December 2019
Workers aged 65+ will be the fastest growing demographic in the workforce in 2020 as second-wave Baby Boomers show no signs of retiring. Many companies that are currently working on attracting Millennials may find it advantageous to also focus on intergenerational cooperation – because for now, Baby Boomers aren’t going anywhere. (Glassdoor)
The head of AARP responded to recent intergenerational tensions: “OK, Millennials. But we’re the people that actually have the money,” a quip many are calling the most “OK, Boomer,” response to “OK, Boomer.” Twitter users of all ages have been quick to point out that disproportionate wealth and lack of empathy are precisely what prompted younger generations’ rallying cry in the first place. (MarketWatch)
As “OK, Boomer” conflict boils over, one author chooses instead to focus on “the generation everyone stopped complaining about.” She aptly points out that, although no one seems to have a problem with the Silent Generation today, there was a time when this cohort was seen as, “too agreeable, too pliable, and too silent.” (Considerable)
Various investment associations are calling on the LSE to shorten trading hours, hoping to “improve culture, diversity, and wellbeing on trading floors and create more efficient markets.” In addition to conferring practical benefits, these changes would allow financial firms to access a wider-pool of Millennial talent due to the premium this generation places on work-life balance. (Sky News)
Younger generations need to realize that older coworkers don’t mean to offend when responding to messages with a simple “OK.” While an Xer might think they are being casual, collaborative Millennials tend to see this response as overly harsh in the workplace, preferring to respond to Slack DMs and emails with a more congenial “kk” or “OK!” (Inc.)
Workers in their 40s and 50s are far more likely to say they plan to continue paid employment through their retirements – 92% and 86% respectively, compared to only 66% of workers in their 60s. While Boomers on the whole find meaning in their work and may choose to remain employed, younger Xers are well aware that they will be financially constrained to work past 65. (The Harris Poll)
A group of psychologists published an academic paper exploring why a “kids these days” bias continues to plague every age cohort. The paper delves into some interesting ideas – such as a memory bias called “presentism” – but it pointedly avoids any explanations that take into account shifting generational characteristics. (Vox)
As older Millennials approach middle age, their lifestyles are becoming less attributable to youth culture and are better explained by factors like the Great Recession, rising wealth inequality, and increasingly rigorous educational requirements. “For many aging millennials, the lifestyle of extended adolescence...is probably beginning to seem less like a never-ending party than a trap.” (Bloomberg Opinion)