Life gets interesting when you have employees from four generations working alongside each other. From the Boomer to Gen Z extremes, understanding how each generation prefers to work, and what motivates them when choosing an employer is critical to their (and your) success. 

This blog explores how each generation shows up in the workplace, and their top motivators for staying or going in 2024. 

In this guide: 

• Gen Z summary and candidate motivators
• Gen Y summary and candidate motivators
• Gen X summary and candidate motivators
• Boomer summary and candidate motivators
• Multi-generational workforces need a multi-dimensional offer

Gen Z working in tech: The numbers

These (re-crowned) digital natives have grown up physically attached to technology and devices, so it shouldn’t come as a surprise that ​​45.45% of those in the workforce are working in the technology industry (according to results from our 2024 Tech Talent Outlook). Here’s a quick intro. 

Age range: roughly 18-28 years old (early and junior career) 

Identified gender split:

• Female 48% 
• Male 50% 

Role seniority: 

• Entry level 28.79% 
• Junior 27.27% 

Gen Z employee insights – mo’ money, mo’ skills

They are the youngest generation in our workplaces with an almost even gender split (which must mean all those women in STEM programs are paying off!). We’ve pulled some telling insights into the work state of mind of Gen Z to understand how they’re working and what they’re expecting from their current employer to help you create a competitive offer. 

Seeking new opportunities 

According to our 2024 Tech Talent Outlook, 62.12% of Gen Z employees plan to change jobs in the next 12 months. They are most concerned about ‘Upskilling’ and ‘Finding a new job’ (both scoring 20.69%). 

Twenty-one per cent of those who recently changed employers received a salary increase of more than 20%, and a further 17.5% of Gen Z employees enjoyed a salary increase of 6-10%. 

Upskilling focused 

Just to demonstrate how important upskilling is to these workers, 43.86% of survey respondents say they used their ​​learning and development budget in the past 12 months (much more than the other generations). 

Let’s now explore motivators when considering their ideal employer. 

What’s motivating Gen Z tech candidates? 

In our 2024 Tech Talent Outlook, we asked respondents to rank their top five elements of an ideal employer. In order of importance, Gen Z talent say: 

1. Offers career progression - 63.79% 
2. Supports a good work-life balance - 53.45% 
3. Long term job security - 46.55% 
4. Flexible working arrangements - 46.55% 
5. Good training - 42.28% 

When you put things into perspective, they’re a generation who have entered the workforce during pandemic-generated economic and social uncertainty and high cost of living (while looking at a future where they may never afford their own home). Security, progression, and work-life balance are key. 

Millennials working in tech: The numbers 

As the 2021 Census results revealed, millennials are overtaking boomers as the country’s largest generation group. Once considered our first digital natives, they test, learn, collaborate, and question the status quo. Here’s a quick summary of the millennials we have working in tech: 

Age range: roughly 29-44 years old 

Identified gender split:

• Female 31.84% 
• Male 64.9% 

Role seniority: 31.84% Senior

Gen Y employee insights – mo’ money, mo’ skills (mo’ benefits) 

Millennial employees are also seeking greener pastures, with 62.19% of our respondents planning to change employers in the next 12 months. For those who recently changed employers, 31.42% received a salary increase of between 6-20%. 

However, interestingly, 79.14% of millennials say non-monetary benefits are important. 

When it comes to learning and development, just under 35% used their L&D budget in the past year but unlike Gen Z, access to training didn’t make their Top 5 motivators. 

What’s motivating Gen Y tech candidates? 

In our 2024 Tech Talent Outlook, we asked respondents to rank their top five elements of an ideal employer. In order of importance, Gen Y talent say: 

1. Offers career progression – 56.56% 
2. Supports a good work-life balance - 53.55% 
3. Provides attractive salary and benefits – 52.46% 
4. Flexible working arrangements – 48.63% 
5. Long term job security - 46.45% 

As McCrindle describes them, Gen Y is the most educated, entertained and materially endowed generation in history, with a novel perspective on work and life integration. They were the first generation to value their time and wellbeing differently, so employers should look at a well-rounded remuneration and benefits package with ease of access to flexible work arrangements that promote a balance of life and career. 

Gen X working in tech: The numbers 

A smaller cohort, Gen X have been much like the forgotten middle child. They are highly educated, flexible, and independent, carrying a ‘work hard, play hard’ mentality. As they came of age during the rise of personal computers and the early Internet / dot com bubble, they have a unique view of technology’s evolution in our lives. It’s also likely that many of Gen X who started their career with tech are still in the industry today (so, plan for the knowledge retention with a mentoring program!). 

Here’s a quick summary of Gen X working in tech: 

Age range: roughly 45-59 years old 

Identified gender split:

• Female 30.11% 
• Male 68.55% 

Role seniority: 

• Manager 30.11% 
• Senior 25.27% 

Position type:

• Employees 63.44% 
• Contractors 36.56%

Gen X employee insights – mo’ money, mo’ opportunities

While traditionally considered more loyal to an employer (at least compared to younger generations, where IT workers under 30 are two and a half times less likely to stay long-term in a job than those over 50), our Tech Talent Outlook data shows that Gen X employees are the most eager to change jobs this year (67.74%). When asked why, 42.62% say their current salary is lower than what they could get elsewhere. 

Is it time to run a salary and reward review? 

What’s motivating Gen X candidates?

In our 2024 Tech Talent Outlook, we asked respondents to rank their top five elements of an ideal employer. In order of importance, Gen X talent say: 

1. Provides attractive salary and benefits – 50% 
2. Flexible working arrangements – 49.44% 
3. Work-life balance – 47.75% 
4. Strong management / leadership – 44.38% 
5. Offers career progression – 40.45% 

When you are at the top of your game, there probably aren’t many more compelling drivers than access to increased compensation and responsibilities and work-life balance and flexibility, which supports their ‘work hard, play hard’ mindset. This will be key for organisations looking to attract and retain these unique and highly valued tech skills and experiences for years to come.

Boomers working in tech: The numbers

Boomers are the oldest generation in the tech workforce and typically the most loyal, known for staying with one employer for their career. They’re known for being goal-oriented with a strong work ethic and top-down leadership style (which is bound to cause friction with the Gen Y and Z preference for collaboration). 

Globally, it’s estimated there are 10,000 Boomers reaching retirement age every day. However, they aren’t all sailing into the sunset, with some continuing to work past the standard retirement age. This presents a lucrative opportunity to tap into and document their knowledge before it disappears (mentoring, anyone?). 

Here’s a quick summary of Boomers in tech: 

Age range: roughly 60-79 years old 

Identified gender split:

• Female 23.88% 
• Male 76.12% 

Role seniority: 

• Execs: 11.94% 
• Manager 23.88% 
• Senior 37.31% 

Position type:

• Contractors 53.73% 

Employees 46.27%

Boomer insights – mo’ balance

While just under 60% of Boomers planning to switch employers this year, almost 37% say any job change is due to a low current salary (is your offer competitive?). When it comes to the stuff keeping them up at night, they are most concerned with maintaining work-life balance (21.54%), Keeping their job (13.85%), and Keeping up with the demands of their job (10.77%). 

What’s motivating Boomer talent?

In our 2024 Tech Talent Outlook, we asked respondents to rank their top five elements of an ideal employer. In order of importance, Boomer talent says: 

1. Work-life balance – 58.46% 
2. Offers interesting job content – 49.23% 
3. Has strong values and moral compass – 44.62% 
4. Is financially healthy – 43.08% 
5. Strong management / leadership – 43.08% 

The top five motivators for the Boomer generation are the most different when compared with subsequent generations, proving that a one-size-fits-all offer won’t cut it in 2024. While Boomers may be aware that they can get a higher salary elsewhere, salary in and of itself is not what’s driving them to accept new opportunities as much as their need for work-life balance and interesting work does.

Multi-generational workforces need a multi-dimensional offer 

Opportunities are rife in the technology industry and these highly skilled employees know their own value that the majority are seeking opportunities elsewhere. This should put employers on notice. Assume that 70% of your tech workforce are currently on seek – how can you use these 2024 Tech Talent Outlook insights to design an inclusive offer worth applying and staying for that will appeal to each and set them up for success? 

Access our full 2024 Tech Talent Outlook data here.