May 2021
Over the past few decades, the overall number of “prime-age” men participating in the labor force has tanked – between 1980 and 2019, the labor force participation rate for men ages 25-54 fell from 94% to 89%. Other long-term trends related to this seismic shift include the rise of part-time employment, a greater reliance on families and roommates to make ends meet, and the ongoing opioid epidemic. (Emsi)
While working their way up the corporate ladder, many younger employees have begun to reconsider the traditional definition of professional success. Taking on a management role often calls for sacrificing work-life balance and overall flexibility, perks that Millennials care about more than the higher salaries and prestigious titles that tend to accompany promotions. (CNBC)
Microsoft reports that the “digital intensity” of workers' days increased dramatically between February 2020 and February 2021, a trend that should concern any manager worried about employee burnout. Among their findings: Time spent in Microsoft Teams meetings has more than doubled, the average Teams meeting is 10 minutes longer, and the average Teams user is sending 42% more chats per person after hours. (2021 Work Trend Index)
As AI and data science jobs grow in demand and importance across nearly every industry, one executive makes a strong case for a “Blue-Collar AI Workforce.” Hiring a specialized roster of two- and four-year grads with newer, ultra-focused certifications can help companies scale faster and more efficiently than bringing on only a handful of engineers and PhDs. (Forbes)
Yet another study suggests that remote work increases productivity: Fully 55% of surveyed managers say that their direct reports have become more productive, with their younger employees in particular being most likely to agree. More than half of Millennial and Gen Z employees believe that they are more productive when working remotely, compared to 48% of Gen Xers and only 34% of Boomers. (Qualtrics)
As the economy begins to reopen across the country, employers are having difficulty filling low-wage jobs in spite of high unemployment rates. Myriad pandemic-related factors (ranging from childcare issues to higher unemployment benefits) have made low-income workers hard to retain, and small business owners looking to stay competitive should consider raising wages – at least in the short term. (Chicago Tribune)
While most people appreciate positive comments on their work, employees in fields such as health care, social work, and education may be more motivated by symbolic recognition than their counterparts in the private sector. The messenger, the timing, and whether the comments are public or private are all important factors to consider when offering this style of feedback. (Harvard Business Review)
A recent survey of Utah middle and high school students revealed that the vast majority of them want to eventually live in a single family home in a suburb. This trend isn’t limited to more conservative states: Risk-averse and conventional, many Gen Zers and Millennials have chosen to pursue more traditional lifestyles at an age where previous generations often rebelled. (Deseret News)