Whether 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, WorkThe folks at BuzzFeed got a lot of response to a recent post about the small slice of young adults caught between the associated norms of the Millennials and Generation X. So much reaction, in fact, that they decided to run a poll and let the members of the group name itself. If you were born between 1975 and 1982, what do you think your generational name should be? Now, mind you, I don’t think this is a very necessary task. Generations always blur at the edges and generational norms are just that – norms. No single person is defined… Read More
Categories: GenerationsFor 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, WorkThis is terrific. Also bordering on narcissistic and indulgent, but mostly terrific. If you aren’t tempted to click the link just because I said it’s terrific, here’s a preview. The link takes you to CNN where a young Gen X editorial cartoonist (and Pulitzer-prize finalist) takes on the Millennial-bashing and analyzing that he feels is bringing down the greatest generation. As someone who makes a living analyzing the generations and helping businesses understand how they work – and work together – I’d take offense to the rant, except he is correct. We have been looking at and fretting over differences… Read More
Categories: GenerationsI 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 IndustryThe 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 EconomyCame 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