November 2019
The importance of transferring tribal knowledge from Boomers to Millennials should not be underestimated, particularly in “hands-on” fields like manufacturing. Recording previously undocumented information, encouraging traditional mentoring, and implementing increasingly popular apprenticeship models can help bridge the experience gap during these last few years before Boomers age out. (IndustryWeek)
A recent survey of affluent Millennials shows that 40% view investing as risky, while 25% see it as “overwhelming.” Despite having a longer window to invest and recoup losses, this risk averse generation is less likely to hold stocks and more likely to allocate money into low-yield savings accounts than the older Generation X. (Investopedia)
An op-ed speculates as to whether recent impeachment struggles represent a “last gasp of Baby Boomer politics.” This values-based generation has polarized the U.S. for decades with “Culture Wars,” and if the current crop of presidential candidates is any indication, this won’t be the last political controversy involving a septuagenarian. (The Hill)
Generational expert Warren Wright describes how life experiences shape generations, from workaholic Boomers and pragmatic Xers, to collaborative Millennials and overstressed Gen Z. The bottom line: In the workplace, understanding these diverse perspectives is key to effective management. (Medium)
Half of Millennials and 75% of Generation Z have voluntarily left their jobs in the past for mental health reasons, compared to only 20% of respondents overall. These startling results speak to higher levels of mental health awareness among younger respondents, and further demonstrate that providing employees with psychological support can improve not only engagement, but recruitment and retention as well. (Harvard Business Review)
A professor of communications argues that we have reached a generational tipping point and managers must adjust to the newer methods of younger employees. While the piece’s Millennial narrative is a bit misleading, it is indisputable that the demographics of the workforce have changed – and that younger employees will disengage and leave if their needs are not met. (The Express)
Uber is launching a new app called UberWorks that matches blue collar workers with businesses looking to fill temporary or shift positions. While Boomers may not understand the appeal, Gen X already makes up the majority of Uber’s core driving workforce and is sure to love this no-nonsense approach to finding a gig. (Financial Times)
Nearly 75% of Millennial attorneys would trade some pay for time off, a more flexible work schedule, or a cut in billable hours. Even the highly competitive and inflexible legal profession is beginning to adapt to a generation for whom “workplace flexibility, social consciousness, and the opportunity to have a say in the company are increasingly valued over compensation alone.” (Major, Lindsey & Africa)