Here’s an interesting new trend – Baby Boomers are beginning to settle down in the big city. According to a report in the Seattle Times, more and more Baby Boomers are walking away from the homes and yards in the suburbs to spend their empty-nester and retirement (or semi-retirement) years in the metro bustle that had once been the playground of the fresh-from-college crowd. It makes a lot of sense – smaller spaces, less time and money on maintenance, no worries about school districts – and it creates some interesting opportunities for employers and businesses. Besides the overall real estate… Read More
Categories: Baby Boomers, WorkI’ve posted about this phenomenon before, and talked about it with clients over the years, but still people have a hard time believing it is true. Yes, I’m talking about parents getting all up in their grown children’s employment business. The topic is back thanks to an article in Huffington Post Business “Millennials Now Bring Their Parents along to Job Interviews.” HuffPost is reporting out statistics that say 3% of job seekers have their parents sit in on an interview – a number that seems statistically insignificant until you realize that until a few years ago not only would the… Read More
Categories: Baby Boomers, Parenting, WorkplaceYou can barely pick up the paper these days without hearing about the 10,000 Baby Boomers who are reaching retirement age every day and how they will a) be a drain on the social security system and b) not “go gently into that good night.” Yet whether it is for the flexibility to visit with grandchildren and pursue travel dreams, the need for added income, or simply the desire not to be seen as past their prime, more and more Boomers are taking post-retirement careers. Boomers that achieved executive status often return to the workforce as consultants – working flexible… Read More
Categories: Baby Boomers, Work, WorkplaceTarget marketing based on age groupings is nothing new – advertising companies have been doing it for ages. However, this approach by Heineken struck me as particularly interesting from a generational perspective. The Heineken Ideas Brewery is in itself a great concept for the younger generations as it is allows consumers to share thoughts directly with the brewery and plays into the Xer and Millennial desire to be recognized as individuals with individual wants. Apparently the company wasn’t satisfied with its sales to the Boomer generation and decided to ask consumers their ideas for new products that would attract this… Read More
Categories: Baby Boomers, Blog, Product DesignWhether it is due to fears about the economy, finally getting tired of the corporate grind, or simply a desire to stay busy in retirement, it seems more and more Baby Boomers are putting on the entrepreneur’s cap. In fact, the Rapid City Journal recently profiled a Boomer entrepreneur whose bright idea for business is a support service company specifically for helping Boomer entrepreneurs get their businesses off the ground. Talk about niche. And yet he already has 50 businesses signed up. What does this trend mean to your business? Are you losing experienced professionals because they are ready to… Read More
Categories: Baby Boomers, WorkFor years, economists and generational experts have been talking about the business impact that will come as Baby Boomers retire in droves. Entire industries have emerged to handle the needs of this enormous generation as it ages out of the work world and into some semblance of retirement – be that semi-retired or active senior living or long term care. But Boomers are affecting established industries as well. A recent story on NBC News highlights how restaurateurs are catering to the Boomer clientele. When we think of restaurants and other B2C business, the trends have historically shifted toward the youth. … Read More
Categories: Baby Boomers, Blog, WorkI work with a good deal of financial advisory firms, many of which are grappling with how to attract and engage younger investors to maintain a strong continuity of client base. And while this is increasingly important, it is also worth noting that the financial advisory needs of the Baby Boomers are not going away. In fact, they are likely to grow. Relationship-oriented service businesses should not assume that all Boomers have established relationships with providers. An article in U-T San Diego quotes a 2013 study by the PNC Financial Services Group states that only 43% of Boomers surveyed have… Read More
Categories: Baby Boomers, Financial ServicesI’ve long recommended that employees connect younger employees with the elder statesmen (and women) of the company – either in addition to or instead of the traditional “next level up” mentor system. From a generational perspective, it seems that this youngest generation in the workforce has a sense of idealism that resonates with older generations – and is wholly lost on the Gen Xers in between. At MoSoConf – Canada’s mobile and social conference held in Saskatchewan last month – marketing exec Michael Douma delivered the keynote address with a speech titled “Thinking Like a Millennial in an Industry of… Read More
Categories: Baby Boomers, Generations, Product Design, WorkplaceA lot of HR time is spent figuring out how to attract the best and brightest young talent – what are the perks and expectations that can bring the next workforce stars to your business? The AARP, however, wanted to know who was doing a good job attracting the bright, experienced talent that is already available in the Baby Boomer generation. In their recent ranking of the Best Employers for Workers over 50, the National Institutes for Health topped the list. The NIH is joined by four more health care companies in the top five. The AARP attributes the dominance… Read More
Categories: Baby Boomers, Generation Y / Millennials, WorkplaceThe 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