January 2020
An article about how the workplace has changed in the last decade observes: “For the first time ever, there are four generations in the workplace.” By and large however, the number of generations in the workforce at any one time has remained the same over the years – what has actually changed is our awareness of inter-generational dynamics. (Ladders)
The largest-ever study on narcissism found that Boomers are the real “snowflakes,” turning the stereotype of the “entitled Millennial” on its head. Boomers showed a more “inflated sense of self-importance,” according to the study, which is commonly associated with Boomers’ generational archetype, particularly as they enter elderhood. Are you OK, Boomer? (Insider)
The future of Millennials’ health is grim, as they are expected to age less healthily despite being at the forefront of wellness fads and healthier lifestyle trends. The data forecast severe blows to employers’ healthcare costs, employee productivity, Millennials’ personal finances, and the U.S. economy as a whole. (Blue Cross Blue Shield)
Fully 90% of Millennials say that it is at least “somewhat important,” that their work has a positive impact on the world. This community-oriented generation is especially averse to work they believe is inherently exploitative: Those who believe their work is exploitative rate their happiness at a 4.1 out of 10 versus the average Millennial rating of 7 out of 10. (Olivet Nazarene University)
Two common themes listed in “10 ways the workplace has changed since 2010,” are the growing importance of collaboration, and the shrinking emphasis on large paychecks. Work-life balance is in, while competition and hierarchy are out: Both trends come directly from Millennials’ expanding influence in the workplace over the last decade. (Ladders)
A “technology gap,” may be partly to blame for the lack of Millennials interested in blue-collar jobs. Companies that are able to leverage AI and predictive analytics technologies will be better placed to both attract younger workers and handle future changes in the industry. (Forbes)
Only 17% of workers aged 18 to 34 believe that all of their company’s employees have a fair chance to advance, less than any other generation. Companies hoping to retain Millennials need to provide them with stability and a clear plan for advancement, keeping in mind that this risk-averse generation came-of-age during a recession and record high unemployment. (Clutch)
A recent piece posits that Boomers are actually fairly well prepared for their retirement, with more saved in individual accounts and better systemic coverage than their elders 25 years ago. Despite having more saved, Boomers are still facing a “looming retirement crisis,” with people living longer and retirement expenses climbing (particularly for healthcare). (Quartz)