Gen X oft-overlooked, but potentially valuable market

Gen X oft-overlooked, but potentially valuable market

Posted On June 27, 2013

In a recently issued report, “Life insurers cast the net wider net for growth: Enter Gen X” the Deloitte Center for Financial Services touches on many of the reasons why life insurers should put more resources behind targeting Generation X buyers, a  market segment they have typically eschewed. The report is applicable beyond the life insurance industry, however, as it hits on several of the stereotypes that have kept Gen X out of the spotlight for many professional services. Namely, they have a different buying structure and skeptical nature, which makes for a longer, less easily controlled sales process. But… Read More

Categories: Blog, Product Design

Buying process goes from grass roots to social circles

Posted On June 25, 2013

If Gen X put buying power in the hand of the consumer – relying more on independent research and word of mouth referrals from friends than on company-crafted advertising – then Millennials are putting it in the hands of everyone. That is, not just their family and friends, but their Facebook friends, Twitter followers, etc. In fact, according to NBC News, a recent study conducted by eBay indicated that 20% of young motorists would be willing to conduct a car purchase entirely via a mobile device. While that may be a more extreme stance, the survey results underscore the younger… Read More

Categories: Automotive, Blog

Boomer suicide rate on the rise – generational norms may play a part

Posted On June 25, 2013

The Washington Post published an interesting – and alarming – story about the increase in suicide attempts among the Baby Boomer generation. According to the article, some of this increase follows a natural trend toward suicide among older individuals, however the actual rate of suicide has also increased – in some cases by as much as 50 percent – between 1999 and 2010. The article goes on to speculate on some of the generational norms that may contribute to this increase. Interestingly, these are the same norms that have shaped how Boomers perform and behave in the workplace. I am… Read More

Categories: Baby Boomers, Training Industry

Generational mix-up? Bloomberg Businessweek campaign causes a stir

Posted On June 20, 2013

The first rule of advertising is to know your target audience. The second rule should be a no-brainer:  don’t actively offend them. Somewhere on the way to being creative Bloomberg Businessweek advertisers seem to have forgotten rule number two. In a “funny if it didn’t happen to you” subscription campaign, the Bloomberg affiliate encourages parents, friends and family members of Millennials to send the young workforce a pithy e-card and a 12-month subscription to Businessweek. Problem is, the e-cards appeared more pithy to the givers than to the intended recipients. What I find particularly odd about this campaign is that… Read More

Categories: Advertising, Generations, Recession Economy

From trophy kids to one trick ponies – can youth sports predict the future?

Posted On June 18, 2013

Social commentary about Gen Xers and Millennials frequently point out the somewhat recent phenomena of “participation trophies” in youth sports – there may be a winner, but everyone takes home a trophy just for showing up.   When those hyper-celebrated kids began entering the workforce they – and their bosses – were in for a rude awakening.  Just showing up simply doesn’t impress. So what might we be able to predict about the next generation in the workforce based on their youth sports tendencies today? The fall-out of the hyper-celebrated child is the hyper-specialized athlete.  If everyone is awesome, how is… Read More

Categories: Parenting

This guy gets it.

Posted On June 13, 2013

Came across this commentary on inspiring Millennial employees in Forbes the other day and thought it was worth sharing.  The theory and tips and “story behind the story” of managing across the generations that our team provides to clients around the country is important.  But sometimes it’s helpful to hear it straight from the folks in the trenches figuring out how to make things work.  This guy gets it – and what’s even better, he admits he didn’t always get it.  Change can lead to good things. Author Ty Kiisel confirms the experiences I’ve had over the years and what… Read More

Categories: Financial Services, Generations, Workplace

Millennials showing another hint of Mature-like behavior

Posted On June 11, 2013

One of the core theories in generational management is that generational norms exist based largely in response to the world environment during a group’s formative years.  For the older half of the millennial generation (those currently 18 – 34) the rollercoaster economy seems to be making its mark. According to a report in the Los Angeles Times, Millennials are more cautious about debt than is typically expected of twenty somethings. In fact, in the past 12 years, the average debt in young households was reduced by almost half. I was especially interested in the author’s comment that this behavior is… Read More

Categories: Generations, Matures, Recession Economy

Millennials more conservative than you might think

Posted On June 6, 2013

Merrill Lynch recently released a white paper Millennials and Money that surveyed some of the most affluent members of the youngest generation currently in the workforce and found them to be at odds with many of the stereotypes typically applied to this group. Michael Liersch, director of behavioral science for Merrill Lynch writes: These young people aren’t rebelling against the traditional investment approaches advocated by their parents—not only do most say they would have no objection to using their parents’ financial advisors, they are also most likely to describe their investment philosophy as “buy and hold.” They aren’t turning to… Read More

Categories: Blog, Financial Services

What do Millennials want? More awesome.

Posted On June 4, 2013

Even while being diagnosed as the most narcissistic generation ever, Millennials continue to have an altruistic streak which showed up in the results of a study by the National Society of High School Scholars, which published its 6th Annual Career Survey Results last week. Yes, the Millennials heading to college this fall have big dreams for 2017.  They want to work for Apple, DreamWorks, Disney and Google.  But their number one preferred company to work for:  St. Jude’s Children’s Research Hospital.  True to their generational traits, it is not just about the paycheck – they want to feel good about… Read More

Categories: Generation Y / Millennials, Generations