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)
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)
October 2019
The Business Roundtable has shifted its priorities from shareholders to employee and community welfare in a groundbreaking statement signed by 181 CEOs. Given that over 40% of younger generations support active corporate engagement, compared to only 25% of Silents and Boomers, the statement is “consistent with a historic generational shift toward corporate activism.” (PRWeek)
Younger employees are increasingly pushing back against “workaholism,” rejecting prestigious titles and salaries and opting for jobs with increased flexibility. Baby Boomers may have defined themselves with rigid career goals and long hours, but the Millennials searching for work-life balance are no less passionate about their chosen fields. (The New York Times)
Fully 88% of Gen Z says it is important to them that a future employer offers some type of structured training program. This overprotected generation is just starting to enter the workforce—their lack of soft skills and need for guidance mean that informal, learning on-the-job just won’t cut it anymore. (Sitel)
More than four in 10 Gen Zers admit they have avoided asking their employer for training on a specific topic or activity. Sheltered Gen Z is completely unfamiliar with unstructured projects and managers would do well to check in more frequently with younger employees who are accustomed to constant guidance. (Sitel)
Marking the start of another school year, the most recent “Mindset List” has been released. Some of the most striking observations for the class of 2023: “Like Pearl Harbor for their grandparents, and the Kennedy assassination for their parents, 9/11 is an historical event,” and, “Apple iPods have always been nostalgic.” (Marist)
A recent viral tweet suggested a reality show in which Baby Boomers follow their own 30-year-old advice on a modern job hunt. While the post was a joke, parents advising Millennial children should take note: “If you base your tips on your own decades-old job search experiences, you risk doing more harm than good.” (Next Avenue)
In the last year, smartphone ownership and social media usage has increased more among the Silent generation than any other. Their numbers are still far lower than Millennials, Xers, or Boomers, however, and some roadblocks to their adoption of new technologies include a lack of confidence and a physical difficulty manipulating devices. (Pew Research Center)
Friends and its cast and creators have tried to avoid it being called a “Gen X show,” with Matt LeBlanc (Joey Tribbiani) even going so far as to say: “I don’t like it as a label. I’ve heard it used as ‘lazy,’ ‘unfocused,’ ‘drifty.’” Xers have always felt a desire to distance themselves from their generation, and this famous group of 20-somethings from the 1990s is no different. (Vulture)
September 2019
Fully 75% of Millennials and Gen Z say they would leave their jobs if companies do not work to prioritize diversity and inclusion within five years. When it comes to building loyalty and stability among a younger workforce, diversity and equity is at least as important as a company’s self-proclaimed mission statement. (Deloitte)
“It’s time to stop celebrating the Baby Boomers,” proclaims a Gen X author, in a snarky piece that could have been written by almost anyone under 55. Although some of the cited data is questionable, Xers have certainly been overlooked due to the demographic behemoth that preceded them. (New York Post)
Grey collar workers foresee higher demand for their jobs in the future than blue or white collar workers, 45% versus 32% and 31% respectively. They’re not wrong to be more optimistic: Because grey collar work combines manual labor with interpersonal or technical expertise, these industries are among the least likely to experience automation in the near future. (Express Employment Professionals)
Walmart introduced new education benefits for its workers, a major step forward for a company hoping to appeal to Millennial employees. Their debt-free college plans are sure to be a hit with younger recruits who are watching friends and siblings struggle with student loans. (CBS News)
Virtual reality is quickly becoming an effective tool to teach soft skills in the workplace, with simulations that can remove the awkwardness of roleplaying, include tutorials, and allow for repetitive practice. Tech-savvy Millennials are in desperate need of soft skills, and gamifying professional interactions might be the next big trend – for companies that can afford it. (The Los Angeles Times)
A university dean claims that technology has changed how Millennials communicate with authority figures. Millennials, like all generations, actually formed their relationship with authority well before they ever got online: Their Boomer parents raised them as special and valued their opinions more than previous generations of parents. (FenderBender)
Fully 67% of Americans ages 18-35 approve of unions (compared to only 61% of adults 55+). After decades of low approval ratings, team-playing Millennials’ new attitude towards organized labor could lead to a new wave of union memberships. (Gallup)
Wage satisfaction among workers under 35 rose an astonishing 9.8% in the last year, a phenomenon attributed to entry-level salaries being more sensitive to market fluctuations. However, a shift in perception could also be due to lower expectations: Millennials’ job experience has been largely post-recession, and they may simply be awe-struck by their first experience of a tighter labor market. (The Conference Board)