A Message from Our CEO – October 2020
Dear Friends,
Imagine its 2019, you are a successful film producer and a screenwriter comes to you with the following story: A global pandemic kills millions, disrupts the global economy, and the President of the United States is hospitalized with the killer virus 30-days before an election. The President's son calls for an "Army" for election security operations on social media while the Senate tries to push through a controversial Supreme Court justice nominee in record time. You might pause after the pitch and say, "Nice try, but that's too outrageous for our audience".
No news is too surprising these days, so you may not be shocked to learn in our latest C-Suite Newswire that corporations are growing a soul and now are feeling "extremely responsible for their employee's financial well being" compared to how they felt a few years ago. Also, in the category of news-that-is-counter-intuitive-to-conventional-thinking, Gen Z is less likely to believe and share fake news. That's real fake news, not fake fake news.
Take a Breath. Take a Walk. Read Fiction.
Warren
October 2020
Many large companies are viewing time away from the office as an opportunity to tackle dramatic workplace remodels, replacing their open offices with dynamic workplaces. While the open office hoped to accommodate the daily grind, the dynamic workplace is designed to be an optimal location for collaborative efforts – with employees working solo welcome to check-in from home. (The Wall Street Journal)
COVID-19 is now being spread primarily by people in their 20s and 30s, but it’s not due to Millennials and Gen Z being unnecessarily irresponsible like one might imagine. Rather, these risk-averse younger adults are simply more likely to be enrolled in school, employed in service jobs, or in dire financial straits, all higher-risk situations that make them more susceptible to catching the virus. (National Geographic)
Workplace diversity initiatives are undergoing a seismic shift as companies have been forced to grapple more seriously with issues related to gender and race. It's about time. Much of this push has come from younger generations of employees (and consumers) who are more inclusive, more diverse, and unhappy with increasingly outdated corporate diversity initiatives. (Bloomberg)
Gen X was the least likely to put their Coronavirus stimulus check towards savings (with only 10% doing so), compared to a quarter of Silent Generation recipients. While older Americans were more likely to save their stimulus, and younger ones were slightly more likely to use it to pay down debt, the “sandwich generation” was again caught in the middle – Gen X was most likely to have used it to pay for expenses. (U.S. Bureau of Labor Statistics)
Fully 62% of employers feel “extremely” responsible for their employees' financial wellbeing, compared to only 13% in 2013. The finding comes amid growing evidence that financial stress hinders worker productivity, and as a trend is likely spurred by Millennial employees who are more welcoming of a holistic approach to mentoring than previous generations. (Bank of America)
Despite getting a majority of their news from social media and digital news sites, Gen Z is less likely to believe or share fake news online. Researchers believe this is at least partially due to their understanding of social media algorithms and their greater exposure to online content, but this generation’s deference to experts and institutions may be another factor. (Axios)
Anne Helen Petersen, author of the new book Can’t Even, believes that much of Millennials’ “generational malaise” stems from Baby Boomers’ style of parenting. While hands-on, sometimes overbearing parenting is characteristic of this generation’s childhood, a good deal of Millennial stress and exhaustion can also be attributed to their coming of age during a period of societal crisis. (The Atlantic)
Research shows that employees tend to respond more negatively to feedback from female bosses compared to male bosses, but that this discrimination is less stark among younger workers and disappears among workers in their 20s. These findings are critical for female managers: Many who have adopted unconventional management strategies to cope in the past may be able to take a fresh approach with a new generation of hires. (IZA Institute of Labor Economics)
A Message from Our CEO – September 2020
Dear Friends
In this month's NewsWire, we are learning more about cognition than ever before (see this incredibly funny Sarah Cooper piece: Person, Woman, Man, Camera, TV.) Can you memorize those words in order? Maybe Trump is a genius compared to his Baby Boomer cohort. A new report in Science Daily suggests that Boomers are scoring lower on cognitive tests compared to previous generations. Dumber, but it turns out more satisfied working from home compared to Millennials and Gen Z, according to new research on remote work by Cushman & Wakefield. For you Xers, it is a most excellent study. These are a few platinum nuggets from this edition of The C-Suite Newswire. Pass this on to your friends if you are learning something new.
Read Fiction. Tell a Joke. Smile More.
Warren
September 2020
Since the outbreak of COVID-19, 37% of employees say their company culture has improved (versus 15% who say it has deteriorated), and 48% say they feel more connected with coworkers (versus 18% who disagree). The top methods respondents say strengthen company culture are: sending regular emails, finding new ways for employees to connect, and encouraging more contact with managers. (Qualtrics & Quartz)
Fully 63% of Millennials say they feel they can trust their employer to respond to an emergency (like a localized COVID outbreak), compared to only 41% of Boomers. These generations’ different views of authority have shaped their responses more than potential health concerns – although older generations are at greater risk of Coronavirus complications, they actually expressed fewer health concerns over returning to work. (Salesforce)
USPS has recently seen a huge surge in merchandise and stamp sales, fueled largely by younger consumers and trending hashtags (e.g. #SaveUSPS.) Optimistic and community-oriented, Millennials and Gen Z are demonstrating yet again a willingness and ability to mobilize as a cohort in support of a civic issue. (Yahoo!)
The CEO of Uber wrote an op-ed purportedly in support of the same increased worker protections that many large gig economy companies have fought against for years. While independent Gen Xers were fine with greater freedom and fewer benefits, calls for more stability and worker protections will only increase as risk-averse Millennials make up a greater share of the labor force. (Tech.co)
Despite their support for remote working options in the abstract, roughly 70% of younger employees report challenges working from home, compared to only 55% of Boomers. The main problems cited by Millennials and Gen Z include lacking a dedicated work area, and needing to navigate a living space shared with parents, roommates, or children. (Cushman & Wakefield)
In a concerning reversal of trends, Baby Boomers are scoring lower on cognitive functioning tests than previous generations. Researchers are struggling to reconcile Boomers’ relatively healthier childhoods with these lower scores, but contributing factors may be obesity, loneliness and depression. (ScienceDaily)
Google recently unveiled “Google Career Certificates,” a program to prepare participants for high-paying, high-growth fields at a fraction of the cost of a standard college experience. Google joins a growing number of large companies in doing away with requirements for a four-year degree, a move that will resonate with young people who have grown skeptical of the value of an expensive, more traditional education. (Inc.)
Among Baby Boomers, those in the middle of the socio-economic spectrum are likely to be the most financially impacted by Coronavirus. While low-earners are at higher risk of losing their jobs, and high-earners’ retirement will take a bigger blow due to market losses, median-earners are being hit from both sides and are most likely to be forced into early retirement. (The New School Retirement Equity Lab)
A Message from Our CEO – August 2020
Dear Friends,
This is the week we are usually on vacation, apparently. Facebook tells me this. They know more about my vacations than I do. A bit scary. In this edition of the C-Suite Newswire, we hear from McKinsey and Gallup about new mask-wearing research showing generational attitude differences. It's not what you would think. Also in this edition, Wired goes on the record as to why a hybrid-remote approach to work is a bad idea (I tend to agree), and WSJ writes the definitive "7 Rules for Zoom Etiquette." Oh, and of course, the U.S. is facing a child-care crisis, a burden for Millennial women, according to Politico. These days, there is never a shortage of important news.
Stay Curious. Listen More. Empower Others.
Warren
August 2020
Younger Americans are more likely to wear masks than older adults, and those masks are more likely to be medical-grade (as opposed to cloth). Millennial respondents were more likely to have returned to work (where higher mask usage was reported), but this discrepancy is also largely due to the importance this generation places on community, and its inherent aversion to risk. (McKinsey & Company)
According to Gallup, when asked, “How often do you wear a mask when outside your home?" Millennials’ responses are largely distributed between “Always,” “Often,” and “Sometimes,” while Boomers’ are more closely clustered at either “Always,” and “Never.” A divided response is typical for this polarized generation of culture warriors, even in times of crisis. (Gallup)
The success of new hybrid-remote work initiatives depends largely on an office’s generational style of leadership. Baby Boomer workaholism and strict hierarchies may lead to inefficient processes and a feeling of exclusion among remote team members, while agile, Xer-style workplaces with flatter organizational structures should be able to accommodate hybrid employees more easily. (Wired)
Summer jobs for young people, which have been scarce since the Great Recession, have virtually disappeared during the pandemic. Over-achieving and over-scheduled, Millennials and Gen Z are either working year-round or spending their summers vying for internships to better compete in tight labor markets. (Vox)
Adults over 60 have coped better emotionally with the pandemic than those aged 18 to 39, reportedly feeling less stressed and less threatened. Much of this variation is due to life-stage rather than generational differences – older adults are less likely to be experiencing the childcare issues, unemployment, or financial stress that have beset Millennials and Xers. (Ladders)
As the pandemic wears on, all generations are adjusting to new zoom meeting etiquette "rules" – punctuality, sitting still, and no multi-tasking or eating are among the best-practice recommendations. This new set of soft skills will help define what it means to be "professional" in the workplace. (The Wall Street Journal)
As white-collar employees grow accustomed to working in sweatpants, the pandemic is set to accelerate changes in what is considered “workplace appropriate” attire. This trend towards casual workwear was already underway, fueled by the growing popularity of athleisure and the ascension of a younger, less fastidious generation into management. (NBC)
The United States is facing a child-care crisis caused by pandemic-related school shutdowns and an upcoming wave of day-care closures and bankruptcies. This burden is borne largely by already over-extended Xers and Millennials (particularly women), as couples reassess the feasibility of a dual-income household and single parents grapple with an impossible catch-22. (Politico)
A Message from Our CEO – July 2020
Dear Friends,
One remarkable consequence of the pandemic is the fast-tracking of a new way to work that we should have been doing all along. In this month's Newswire, we learn that workaholism, a remnant of Boomer work culture, is dead. It is being replaced with autonomy, flexibility, and balance. Finally. And remote workers may have Zoom-fatigue, but their productivity is rising. It took a crisis to figure this out. Another counter-narrative story from a new Deloitte study is that even amidst political divisiveness and a surging coronavirus, our level of empathy and a desire to make an impact on peoples' lives is increasing. There is good with the bad. Beneath the mold is a fine piece of cheese.
Stay Woke. Be Autonomous. Practice Balance.
Warren
July 2020
The author of Under New Management posits that the pandemic has shifted workplace priorities from workaholism to flexibility, autonomy, and balance. Policies that favor working smart over working hard are sure to be popular with younger generations in a post-Boomer work environment. (Forbes)
Millennial and Gen Z anxiety levels actually dropped post-pandemic, according to a recent two-part survey. Despite being the most financially affected, the world’s youngest generations are responding to an unprecedented crisis with an extraordinary optimism and sense of community. (Deloitte)
A sense of suspended animation permeates a series of recent interviews with young Millennials and Gen Z, who feel their lives have been put on hold before they even began. The piece ends by considering a New Deal-style initiative to get young Americans back to work, and in doing so draws a fitting parallel between Millennials and the “selfless” G.I. Generation. (TIME)
The enormous influx of young people moving back home due to Coronavirus closures and layoffs may lead to a shift in how Americans perceive moving in with one's parents. While “boomeranging” has become increasingly common for Millennials over the last decade, the widespread practice still carries a certain stigma of irresponsibility. (The Atlantic)
An examination of the sudden transition to remote work reveals a shift to “short and spartan” procedures that certainly appeal to pragmatic Generation X. The anecdotes reveal the benefits of remote work, including lower real estate costs, lower commute time, improved productivity, and higher employee satisfaction – while also touching on drawbacks, like feelings of isolation, “Zoom fatigue,” and a blurring of the lines between work and leisure. (The New York Times)
Many small businesses who had already adopted policies and systems popular with Millennials found themselves better positioned to adapt to COVID-19 than traditional offices. Cloud-based archives, collaborative technology, and flexible remote work policies are some of the strategies that have helped these companies stay nimble. (The Guardian)
The pandemic has increased empathy and the desire to make a positive impact among Millennials and Gen Z, with three-quarters saying that it “has highlighted new issues for me and made me more sympathetic toward the needs of different people around the world.” Although this generation is facing enormous global challenges, they will tackle injustice, conflict, and adversity with confidence and optimism. (Deloitte)
The CDC has recommended extensive changes to the traditional American office that are designed to mitigate the risks and spread of current and future pandemics. Many smaller businesses will choose to continue working remotely when faced with this enormous cost, while those returning to in-person offices should expect a “far-reaching remaking of the corporate work experience.” (The New York Times)
A Message from Our CEO – June 2020
Dear Friends,
To have one of our top Newswire items be something other than COVID-19 must make it an important story. It is. Pew Research found that Millennials and Gen Z are more likely to believe that blacks are treated less fairly than whites compared to older generations. Meanwhile Millennials and Gen Z are the generations most financially impacted by COVID-19 and over half of Boomers have stopped contributing to their retirement account. It's bad news all around. As we try to make sense of this deepening crisis, we must recognize that we are all hurting, but some are hurting more than others. How can we help each other? We start with this:
Listen. Be compassionate. Have empathy.
Warren Wright
June 2020
Half of Millennials agree with the statement: “Sometimes, it is difficult to work remotely with people from different generations,” compared to only a quarter of Boomers. Further focus group research shows that younger generations tend to equate “remote work” with “technology,” and many feel that older colleagues use tech ineffectively, slowing them down. (Second Wave Learning)
Research from the last few years shows that younger generations are more interested in social equity and equality than older generations – one data point shows that two-thirds of Millennials and Gen Z believe that blacks are treated less fairly than whites in the U.S., compared to roughly half of Gen Xers and Boomers. As the story breaks, it comes as no surprise that younger Americans are at the forefront of protests about racial inequality that are spreading across the nation. (Pew Social Trends)
Millennials have recently been laid off in such disproportionate numbers that Gen X will likely displace them and regain their former position as the largest generation in the workforce. Millennials were overrepresented in the service and hospitality industries that were economically hit hardest by the pandemic, and younger workers will bear the brunt of a slow recovery in these sectors. (The Washington Post)
In an attempt to reduce costs and adapt to a post-Coronavirus reality, businesses may avoid replacing full-time employees by turning to more agile freelancers. Risk-averse Millennials, entrepreneurial Xers, and workaholic Baby Boomers all have unique strengths to position themselves favorably in the gig-economy. (Fast Company)
Faced with a global pandemic and months of isolation, many older adults have had to quickly grapple with new technologies in order to stay connected to the outside world. The Silent Generation (and even older Boomers) are relying on networks of peers and tech-savvy Millennials to learn skills that younger generations take for granted, like how to accept a video call or place an order online. (City Lab)
Nearly 80% of American employees, “feel their manager has been more supportive in managing and communicating work goals since transitioning to remote work,” the highest share of any country surveyed. As lockdowns lift across the nation, managers would do well to bring that same clear communication and sense of empathy from the virtual workplace to the physical one. (Asana)
A reporter spoke with Baby Boomers who have reached the end of their professional lives with no financial savings to speak of – a group that has likely grown considerably given the recent economic downturn. While Boomers have a reputation as workaholics who love their careers, there is no denying that many are still working odd jobs out of necessity rather than passion. (The Washington Post)
Record-high unemployment numbers are affecting workers across the socio-economic spectrum, as even in-demand, high earners are having trouble finding work, starting new ventures, or transitioning to new careers. Many businesses are currently unable to bring on new upper-management, and some of these well-connected, white-collar employees seem acutely aware that their next position will likely not pay as much as the last. (The New York Times)
A Message from Our CEO – May 2020
Dear Friends,
There is nothing like a crisis to get blockbuster news stories. In this edition of The C-Suite Newswire, we learn why Millennials are simply shell shocked, experiencing their third economic crisis in their short lifetime. We learn how each generation plays a role in a crisis – with a special shout out to the rarely recognized GenXers who respond with resilience, pragmatism and valuable results-driven approach. Then there is Boomerland: A University of Chicago study says they are leaving work at "catastrophic" proportions... and they're never coming back. Finally, are "open-office" floor plans finally dead? Please, please! Just Do It.
Wear a mask. Zoom less. Be safe.
Warren Wright
May 2020
Each generation will have a role to play in designing the post-COVID “new normal” based on its unique strengths and age-location, according to generational expert Jesse Newburn. Baby Boomers will be called upon as society’s “moral compass,” Gen Xers will respond with resiliency to act pragmatically while getting results, and Millennials will rise to calls for personal sacrifice with optimism and community-spirit. (Fast Company)
Millennials are experiencing the third major economic shock of their young adult lives, leaving many feeling as though their generation may “never catch a break.” A young adulthood spent amid rising wealth inequality, years of wage stagnation and underemployment, and now another global recession will undoubtedly shape how Millennials view the government's role in society. (The Wall Street Journal)
As many workplaces have transitioned to remote work in a time of unprecedented upheaval, many managers are wondering how to keep their teams engaged and productive. The best tips are straightforward: good communication, common-sense flexibility, and time spent team-building – even over video-conferencing. (Forbes)
The author of The Gen X Code hopes to document his generation’s response to Coronavirus to “help everyone channel some Gen X pragmatism and perspective.” Many Xer “latchkey kids” agree that, in these troubled times, they are falling back on lessons learned during a childhood of being left to their own devices. (The Newport Buzz)
Younger employees are having the most difficulty adjusting to remote work and are feeling less connected and informed than their older coworkers. Despite being more technologically savvy, Millennials and Gen Z still thrive on guidance and feedback; managers can help them transition effectively by providing more context, structure, and updates – more than just video check-ins. (Smartsheet)
Preliminary research suggests that the Coronavirus crisis has led to not only unemployment, but a total departure from the labor force for many Baby Boomers. While it is still too early to be certain, one of the lasting repercussions of this pandemic may be an earlier than anticipated retirement for a generation of workaholics. (University of Chicago)
Many experts believe that the COVID-19 pandemic will bring about the end of the “open office,” a floor plan originally popularized in workspaces hoping to appeal to the collaborative, sociable Millennial generation. As workplaces slowly reopen, managers will need to redesign their office layout to meet public health guidelines, and reassess their approach to team-building amid social distancing. (National Geographic)
Millennials and Gen Z are preparing to see educational and professional opportunities disappear as a result of Coronavirus – one professor notes: “College graduates and people finishing graduate programs this summer...are going to really struggle to find work.” Similar to the Great Recession, those just starting their careers will likely experience broad, long-lasting repercussions. (The Atlantic)
A Message from Our CEO – April 2020
Dear Friends,
What a difference a month makes. In a normal news cycle, we sort through over 300 articles and reports to find most relevant generational trends that leaders can use. The articles rarely have a common theme. This month, every story is Coronavirus-related. And there are some juicy ones here. For example, more than any other generation, Gen Z's 'embrace' social distancing. Who knew? And this scary one: Boomers are the least concerned about the Coronavirus. Ok Boomer. And this: Millennials are the most frugal of them all in the new post-Coronavirus world. Now that we've shattered all the media stereotypes, I invite you to learn more.
Stay inside. Be safe. Stay sane.
Warren Wright
April 2020
The Coronavirus has impacted the purchase decisions of consumers in every age group, but Millennials have cut back most of all – Fully 40% say they have cut back on spending, compared to only 23% of Baby Boomers. Younger Americans had a more precarious financial situation before the pandemic, and higher job losses have only exacerbated their need to pinch pennies. (First Insight)
Older Americans are the least concerned about contracting Coronavirus, despite exposure being much riskier for those 60 and over. Old age today feels culturally very different than it did a few decades ago and, in classic Baby Boomer fashion, this generation still sees themselves as forever young. (Rolling Stone)
Social distancing may be the new, stressful norm, but for some Gen Z employees it brings welcome change regarding physical contact in the workplace. While laidback Millennial and Xer colleagues are more comfortable hugging at work, younger hires choose to forgo casual touching and will likely bring about a return to more traditional professionalism. (Reflektive)
An enterprise columnist examines the difference between great leadership and great management during a time of crisis. While often similar, the contrast lies in the periods between crises, and in long-term strategy versus short-term tactics – in brief: A manager does things right, while a leader does the right thing.” (The Wall Street Journal)
A record high 20% of the US population now lives in a multigenerational home, a common arrangement that has become unexpectedly complicated in an era of stay-at-home orders. “Sandwiched” Xers are the generation most likely to be grappling with the logistical difficulties of working remotely, watching children home from school, and keeping at-risk, elderly parents safe. (Quartz)
Millennials have been largely unaffected by recent market troubles because very few young people actually have retirement and investment accounts. Despite being very risk-averse, this generation’s adulthood has thus far been marred by crises and recessions that have kept them from accumulating significant assets. (CNBC)
A leadership and management professor explains, in snarky Xer fashion, why her generation has all the necessary traits to weather the Covid-19 storm. In many ways, she’s right: Pragmatic and independent, Gen Xers have the work ethic and steadfastness to show other generations how to persevere through a crisis. (NBC)
While blue-collar workers were disproportionately affected by initial Coronavirus lay-offs, recent news shows that white-collar employees are not immune to the economic downturn. Although professionals may have the job description and flexibility necessary to work remotely during the pandemic, a sustained decline in aggregate demand will have far-reaching consequences. (The Washington Post)
March 2020
CEOs appear less sheltered from criticism since Millennials entered the workforce. This younger generation was raised to be more open and transparent with authority figures, and leadership will have to adjust to this openness – as one CEO remarked: “This is a new competency, and I don’t think that it’s just a normal leadership competency that you learn in business school.” (The Wall Street Journal)
When assessing Baby Boomers’ impact on society today, only 5% of Boomers said their generation had a "somewhat negative" or "very negative" impact, compared to 11% of Xers and 27% of Millennials. However, despite generational differences of opinion and tension like that surrounding “OK, Boomer,” a plurality of respondents of all ages still held a positive opinion of the Baby Boomer legacy. (Newsweek)
Millennials are prompting greater transparency about compensation by being increasingly open to discussing their salary with coworkers. While this openness tends to make companies more equitable (and profitable) in the long run, managers and executives need to prepare themselves for dramatic changes in the hiring and negotiation process. (The New York Times)
Despite being older and having more resources, Gen X investors are less likely than Millennial investors to have a financial advisor (48% vs 61%, respectively). This generation of pragmatists will likely never shake the independence and skepticism of authority that has characterized their cohort since childhood. (Nationwide Advisory Solutions)
Many Millennials have grown disillusioned with the traditional college to workplace pipeline, but blue-collar industries are still having a hard time attracting younger workers. Investing in technical upgrades and gamification processes appears to be the best way to make recruiting and training processes appealing to a new generation. (Forbes)
A recent study about brand intimacy found that Millennials’ top ranking brands were also the best overall performers across all age groups. Although Gen Z’s rankings were of interest to researchers, for now they are considered to be “predictors of future success,” as the preferences of the larger Millennial cohort dominate the market. (Adweek)
A lack of tech savvy at the organizational level is a good enough reason to jump ship for Millennial employees, according to a recent study. Older executives should keep in mind that younger workers expect a certain level of technical expertise, even in more traditional industries. (Zapier)
College campuses are beginning to grapple with snow plow Gen X parents by offering programs like CSU’s “Parent Academy.” While helicopter Boomers were willing participants in “parents’ weekends,” and campus tours, Xer parents want to go beyond watching over their children — they are eager to take classes that will enable them to maintain an active role in the lives of their college-age kids. (Los Angeles Times)
February 2020
JPMorgan CEO Jamie Dimon recently commented: “The future of work is about skills, not just degrees.” The soaring cost of higher education is giving many young Americans pause, and companies may want to consider the value of non-traditional educational paths when looking for tomorrow’s best and brightest – JPMorgan certainly is. (Pulse 2.0)
The average age of new Fortune 500 and S&P 500 CEOs has climbed from roughly 46 years old to 58 years old since 2005. While these companies seem determined to hold onto Baby Boomers (despite their shorter tenures and the frustration of qualified Gen Xers waiting in the wings), firms that make the adjustment to a new generation of leadership sooner rather than later will have an advantage over the coming years. (Crist|Kolder Associates)
Generation X reports sleeping fewer hours than any other age cohort, with sleeplessness being particularly common among Gen X women. Although younger workers are often seen as the principle proponents for work-life balance, middle aged Xers, often sandwiched between caring for elderly parents and young children, would likely benefit most from extra time to attend to their home lives. (Time)
Millennials are changing “the American way of death,” talking openly about death and making their own funeral arrangements decades ahead of time. Some examples of this characteristically Millennial optimism include the “death positivity” movement, apps like WeCroak (which reminds users 5 times a day that they will die), and companies with names like Deadhappy and Funeralocity. (Vox)
Mozilla recently released a guide to help students navigate ethical issues in the tech industry, tackling subjects very much in line with those being discussed on university campuses around the country. Bringing company ethics and principles to the forefront of the recruitment process will resonate with the majority of Millennials who hope their values align with those of their employer. (Vice)
Support for mental health issues in the workplace is becoming more common as younger workers prioritize company culture over pay. The resources needed to institute new policies regarding psychological well-being are fortunately more accessible than ever to the many employers hoping to attract (and retain!) top Millennial talent. (Time)
Fully 70% of the variation in a worker’s engagement can be tied back to their immediate supervisor, a statistic that underscores the importance of understanding one’s employees. Many younger workers are looking for mentors, and managers who keep that in mind are vital to improving performance and retention. (Gallup)
A recent study found that 84% of Baby Boomers believe that social media improves their lives, compared to only 72% of Xers and 66% of Millennials. These surprising findings may be explained by the reasons different generations use social media – while younger social media users may feel obligated to have accounts, individualistic Baby Boomers likely logged in entirely of their own volition, predisposing them to hold more favorable views. (Security)
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)
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)