What’s Old is New Again. And Again. And Again.
Posted On July 8, 2016
Eleven years ago, in 2005, the Work and Family Researchers Network presented the findings of researcher Paulette R. Gerkovich, who’d studied the views of Generation X professionals. At the time, Gerkovich touted her study as breaking new ground, noting that much of the information available about Generation X prior to her work was “mostly anecdotal” or “gleaned from marketing studies.” Among her findings: There was a widespread belief that Generation X was not committed to their organizations, but this impression was false. Generation X placed a higher priority on personal and family-related goals than career goals. Generation X might be… Read More
Categories: Generation X, Work
Middle Child Syndrome of Gen X
Posted On June 29, 2016
“Marsha, Marsha, Marsha!” Most Generation Xers know exactly where that phrase came from and who said it – Jan Brady on the Brady Bunch. With her whiny lament for attention and jealousy of her sisters, Jan came to be a symbol of the archetypal middle child. In the generational household, it’s Generation X that is playing the role of Jan Brady, stuck between the bigger Baby Boom generation and the up-and-coming millennials. In a recent Forbes article, Cynthia Meyer notes that Gen-Xers are often overlooked when it comes to financial security, their concerns wedged between the impending retirement of the… Read More
Categories: Financial Services, Generation X, Wealth
25% of the US Population and Spending $200 Billion Annually by 2017
Posted On June 26, 2016
I’ve written a lot in this space about the millennial workplace, but appealing to employees is only part of a company’s challenge in dealing with generational transition. Even more important is adjusting to the millennial consumer. Forbes contributor Micah Solomon is calling 2016 “The Year of the Millennial Consumer,” noting that millennials make up 25 percent of the U.S. population and are expected to be spending $200 billion annually by 2017. How to appeal to a growing demographic that is wielding an increasing share of the nation’s buying power? You’ll need more than hip ad campaigns and catchy Twitter hashtags…. Read More
Categories: Generation Y / Millennials, Product Design
Millennial CEO of Millennial Company staffed entirely by Millennials
Posted On May 31, 2016
We’ve given quite a bit of attention in past blogs to the concept of a millennial workplace. Although some millennial expectations may border on the absurd and seismic change may alienate older workers, many companies are transitioning toward a working environment that caters to a younger workforce. But what if millennials are running the company? Not only are millennials now the largest segment of the workforce, many are either moving into leadership roles or starting their own firms. Hoverboards for everybody! A Keurig and a basket of granola bars in every room and a basketball goal outside the CEO’s office!… Read More
Categories: Generation Y / Millennials
Boomers delaying retirement? Not wanted. Needed.
Posted On May 24, 2016
Retirement? What’s that? Though there is some disagreement as to the degree of this phenomenon, it appears that Baby Boomers are typically working longer than their forebears and retiring later in life. TheStreet.com cited a Northwestern Mutual study that found our typical target retirement age is now 68. A Wall Street Journal examination of the trend in 2014 found that 25 percent of 70-year-old men were still in the workforce or looking for work, compared to 20 percent in 2000. The 20 percent of 70-year-old women still in the workforce in 2013 was nearly double that of 2000. Why are… Read More
Categories: Baby Boomers, Retirement
Succession Planning – The Time is Now
Posted On May 17, 2016
The Great Recession of the late 2000s wreaked havoc on most of our plans in some way. Plans to buy or sell a house, plans to fund a college education, plans to move up in our careers to a better job – all had to be postponed, downsized, or even abandoned until the economy started moving again. The downturn also affected succession planning for Baby Boomers, many of whom set aside long-term necessities while dealing with short-term realities. A recent story at campdenfb.com cited a 2016 Kreischer Miller report, which surveyed family businesses in Pennsylvania, New Jersey and Delaware, and… Read More
Categories: Baby Boomers, Retirement, Succession Planning, Workplace
The Millennial Fascination with Sanders
Posted On May 5, 2016
If there’s two things we’ve learned during this election cycle, it’s that Donald Trump doesn’t care for protesters and millennials love them some Bernie Sanders. A recent Harvard IOP poll found that Sanders is the only presidential candidate with a net positive favorability rating among voters between the ages of 18 and 29. Well of course, you may say: The entitled generation wants free stuff. Of course, they are supporting a man who refers to himself as a democratic socialist. It’s interesting, however, that the same Harvard poll found that two-thirds of its millennial respondents did not support socialism. While… Read More
Categories: Generation Y / Millennials
Boomers as Workplace Loyalty Role Models? Hardly.
Posted On April 27, 2016
If you’re an employer you might worry about retaining workers, and the difficulties that high job turnover presents to your bottom line – such as the costs of finding and training new workers. Millennials, in particular, can’t hold down a steady job because they don’t know how to, and/or they don’t want to, or so we’re told. They are just too selfish to commit to anything or anyone, including the people who sign their pay-checks. Fret not! Recent research highlighted on fivethirtyeight.com under the heading Millennials found that Millennial disloyalty is – a bit of a myth. Researchers from the… Read More
Categories: Baby Boomers, Generation Y / Millennials, Work, Workplace
Should employers care what employees think?
Posted On April 17, 2016
I’ve written in recent months about the wisdom in moving slowly when modernizing a workplace with millennial touches, if one doesn’t want to alienate Generation X workers. One Gen-Xer’s experience, however, has been that some employers could care less about turning off employees. Dan Lyons went to work for a start-up software firm after being laid off from a 25-year journalism career and, as he noted in a recent piece in the New York Times, found a “surreal, and cruel” culture that chewed up and spit out employees, simply replacing them with fresh crops of new recruits. Lyons initially found… Read More
Categories: Generation Y / Millennials, Work, Workplace
Against the Freebies – VA Beach Official: “Move to Norfolk.” Amazing…
Posted On April 1, 2016
Unsure whether to convert your workplace to a more millennial-friendly space or avoid the expense and stick with the tried and true? Virginia Beach knows how you feel. According to a recent story in the Virginian-Pilot, efforts have been underway in the Hampton Roads, Va., area — which includes Virginia Beach, Norfolk and Newport News in southern Virginia — to enhance public transit, including light rail. It makes sense, since Virginia Beach has one of the highest percentages of residents between 20 and 29 of any city in the nation, and data tells us that public transit is important to… Read More
Categories: Generation Y / Millennials, Workplace