The definition of a "good" job has changed over the past 60 years, keeping step with the changing values of each new generation, according to a study unveiled Monday at Carleton University.

Professor Sean Lyons, of Carleton's Sprott School of Business, surveyed almost 1,200 workers aged 17 to 69 and found distinct differences between the generations.

In general, he found that employers have diverse workforces and are faced with the challenge of understanding what motivates their workers and what they must do to attract and retain top talent.

As the economy evolves from an industry base to a knowledge base, it becomes increasingly important for employers to understand how their employees think, Lyons said.

He divided his survey group into four broad categories—the "Silent" Generation, born prior to 1945; the Boomers, born between 1945 and 1964; the Generation-Xers, born between 1965 and 1979; and the Millennials, born after 1979.

Lyons found that employees in the Silent Generation want to leave their mark on world with work that makes use of their experience and abilities. The worst thing an employer can do is make these people feel obsolete or irrelevant.

Boomers are focused on trying to find that elusive balance between work, family and leisure. These are people who began their careers in a highly competitive environment who now seek work that suits their lifestyles and moral values. In many cases, that means looking back to the time of the 1960s and 1970s when political activism and "Flower Power" was a way of life for many young people now middle aged.

The Gen-Xers, on the other hand, are eager for intellectually stimulating work, learning opportunities and advancement. If a job doesn't offer these things, they are likely to move on rather than wait.

Lastly, the Millennials focus on cash since they are only just starting out in life. This young group also wants to have fun.

In his report, Lyons emphasized that employers must see the value of every age group, understand their individual strengths and how to combine them to best advantage.