Generations in the News

 

 

Generation Z (Gen i)

  • N.C. colleges nurture Generation Z entrepreneurs:  N.C. State University’s Institute for Emerging Issues is hosting a forum on Monday and Tuesday to discuss the impact of Generation Z on North Carolina’s economic and workforce development. For its purposes, the institute defines the generation as those born between 1990 and 2002.While opinions vary on who should be included in Generation Z, the institute chose its range based on the youngest of North Carolina’s 2020 workforce, which will be mainly composed of 18-year-olds to 30-year-olds. “For the first time, we face a scenario where one generation is likely to be less well off than their parents’ generation on a number of criteria including earnings, overall quality of life, health and life expectancy.” http://bit.ly/xTyoAm

 

Millennials (Gen Y)

  • Millennials Prefer Digital to TV Ads:  A new study by comScore shows that Millennials are more responsive to ads they view when watching “digital” content than they are to ads they see on TV.   In general, the study shows, younger generations are less impressed with TV ads than older generations. In fact the average “lift” for Boomers and Matures is almost 50% higher than for Millennials for TV ads.   It shows that while Millennials are less likely to influenced by advertising than any other generation, that difference disappears in the case of digital advertising. http://bit.ly/AxgkLd
  • Is an MBA worth the cost?  An MBA just ain’t what it used to be, “If [an MBA] is something that you’re doing because you want to make more money, rather than because you’re really interested in how businesses function, you’ll probably be disappointed.” http://bit.ly/xWNNtS
  • Impact of Recession Formative to Millennials:    According to a recent Pew survey, Millennials see their own generation as hardest-hit by the downturn. Only 20% report themselves “very satisfied” with their economic condition. And the recession is affecting their life choices: 35% report going back to school because of the economy, 24% report moving back in with their parents, and over 20% report postponing marriage and family for economic reasons. February 2012 http://bit.ly/zEXNoU
  • Millennials Looking for Training and Promotions:   Millennials are looking for jobs that offer training and the chance to move up, according to new survey by PricewaterhouseCoopers (PwC). “Opportunities for career progression” is the most attractive feature of a prospective employer.  Most of them (59%) said they were still looking for employers who shared their values of corporate responsibility and most of them (70%) expect some flexibility in their working hours. http://bit.ly/xk2VPw
  • Economy Toughest on Millenials:  As the nation climbs slowly out of the Great Recession, millennials appear to be having the toughest time of any age group gaining a foothold in the recovering economy. Those difficulties, in turn, are shaping their decisions about careers, schooling, marriage and parenthood, according to a new report.  The analysis by the Pew Research Center, released Thursday, examines the effects of the recession on the lives and attitudes of young Americans ages 18 to 34. http://lat.ms/AyJd48
  • Good advice for Millennials in Business and those they work for: “Quick B2B Tips For Millennials & for those For Those Managing / Working With Millenials” ~ Markabull.com
  • Recession taking toll on Millennials:”We have a monster jobs problem, and young people are the biggest losers,” said Andrew Sum, an economist and director of the Center for Labor Market Studies at Northeastern University. He noted that for recent college grads now getting by with waitressing, bartending and odd jobs, they will have to compete with new graduates for entry-level career positions when the job market eventually does improve.Without work, young adults aren’t starting careers and lives in new cities, instead they are hanging out with their parents. Opting to stay put, roughly 5.9 million Americans 25-34 last year lived with their parents, an increase of 25 percent from before the recession. ~ Miami Herald – November 2011
  • Marketing to Millennials: You’d Better Learn to Keep Up – Businesses that can’t keep pace with Millennials are missing out on a huge market, according to Tina Wells, CEO and founder of Philadelphia-based Buzz Marketing Group and author of Chasing Youth Culture and Getting It Right. The Millennial Generation is an 80-million-strong legion of Americans born between 1982 and 2000 and already exceeds the baby boomers in size and influence — and someday will rival them in affluence.  ~ All Business – November 2011
  • Coaching Millennial (or Gen Y) Employees: What to Do When They Think They’re Ready to Advance … and You Don’t:
  • You need to first shift your millennial employee from Unconscious Incompetence to Conscious Incompetence. http://bit.ly/tSNyVb

Gen X

  • Global Traveling:  Marriott predicts 1 billion global travelers in 2012 – “Biggest number ever. It’s a massive number, and it continues to grow.” Marriott will invest between US$550 Million & US$750 Million in hotels during 2012 http://bit.ly/yHYeM1
  • PODCAST:  Unraveling the Mystery of Gen X – A Podcast Interview With Tim Moore: “Who are they, what are they like?” http://bit.ly/A7eNhY
  • In Super Bowl ads, Gen X nostalgia rules:  The advertisements of Super Bowl XLVI on Sunday were notable for nonstop cameos, most catering to a Generation X entering middle age.   Matthew Broderick and Elton John were headliners on a night when pretty much everyone made a comeback in a commercial – including the guy who played the Soup Nazi on “Seinfeld.” http://bit.ly/yuylrj
  • Gen X Surpassing Boomers in Cosmetic Surgery:   Although Baby Boomers are known as the “forever young” generation, Generation X has now surpassed them in seeking cosmetic surgery and other procedures that help maintain a youthful appearance. According to the American Society for Aesthetic Plastic Surgery, Gen Xers (now aged 31-45) accounted for 43% of all aesthetic surgical procedures last year. Baby Boomers accounted for just 28%.    Read More: http://bit.ly/uhqnVZ
  • Generation X, Millennials Boosting Business Travel:Business travel is projected to rebound in 2012, with Millennial and Gen X business travelers leading the way. In a new Deloitte survey, 27% of Gen X and Millennials say they will travel more for business next year, nearly twice the percentage of Boomers and Matures who plan to take more trips.When traveling for business, younger generations tend be more loyal to their favorite hotel brands with nearly half saying they like to stick with the same brand regardless of location or convenience. Only about a third of travelers over 45 share that brand loyalty. http://bit.ly/v6j4Pd

 

Baby Boomers

  • More retired Baby Boomers moved to North Carolina last year than any other state, according to U.S. Census data. About 9,000 retirees relocated to North Carolina last year. ~ Business Leader Triangle – November 2011
  • Millennials (Gen Y) vs. Boomers: Workplace Conflict Heats Up:  The recession has put a damper on the Millennials’ career goals—55.3 percent of those 16-29 were employed in 2010, down from 67.3 percent in 2000. All while statistics show that baby boomers are delaying retirement. The number of older workers in the next few years will increase by 11.9 million, meaning nearly 25 percent of employees will be seniors by 2016. This backlog of older workers has heightened potential workplace conflict between the generations. ~ The Fiscal Times – November 2011
  • Boomers Surge Into Lead With Spending Online:  Up until a year or so ago, members of Generation X have led the way in buying things online. Now, according to a new study by Forrester Research, Baby Boomers have become avid online shoppers and the biggest online spenders.  Older Boomers (age 55-65) are now the biggest online spenders, reporting having spent an average of $367 online within the last three months. ~ Generational Insights, 2011
  • Boomers Funding Millennial Homeownership: At least 20% of Baby Boomers are helping their Millennial children or grandchildren realize the dream of homeownership, according to a Better Homes and Gardens survey. One in five Boomers surveyed had gifted, loaned, or co-signed in support of a Millennial’s purchase of a home.  This points to the generational affinity between Millennials and their Boomer parents, a basic principle of generational marketing and selling. When it comes to “life” purchases such as homes, cars, and investments, you will often need to be able sell to Millennial buyers AND to their Boomer parents. http://www.generationalinsights.com/blog/

Matures

  • Census Finds Reaching Age 90 More Likely Than Ever.  First-ever census figures on the 90-plus population show it’s nearly tripled in size since 1980, to 1.9 million. One of the nation’s fastest growing groups, the 90-plus population is projected to reach 8 million by midcentury, representing 2 percent of the U.S. population.  That’s a big change from over a century ago, when fewer than 100,000 people reached age 90. ~ Associated Press – November 2011