The new generation employees has become the main force in the workplace. How to stimulate the innovation potential of the new generation employees is related to the survival and development of the company. In order to reveal the relationship between charismatic leadership and new generation employees’ innovation performance, this paper constructs a theoretical model of charismatic leadership, work engagement, perceived insider status and employees’ innovation performance. Based on the analysis of 226 sample data from new generation employees, the results show that: charismatic leadership can effectively promote new generation employees’ innovation performance; work engagement plays a mediating role in the relationship between charismatic leadership and new generation employees’ innovation performance; the interaction between work engagement and perceived insider status has a significant positive impact on new generation employees’ innovation performance.