Julia Chung, CFP, CLU, FEA, TEP’s Post

What generations are you likely to employ in your business? If you’ve ever found yourself scratching your head over the difference between Gen X, Millennials, Gen Z… and wondering if it matters, then I’m going to suggest that it does. As an employer/business owner, understanding generational cohorts, and the positive impact of generational diversity, is good for business. So, what are generational cohorts? Well, they are groups of people based on a person’s year of birth. 📅 They’ve become increasingly relevant in today’s professional landscape, because of the way each generation has its unique set of behaviours, thoughts and values. And how they engage with each other. Imagine, an entire workforce with a mix of people, not only from different backgrounds, but from all age groups. How cool would that be? You’d have the best of everything. 😎 Let’s consider the impact of technology, how different generations use it and communicate with each other through it. 🤔 Here’s a quick rundown… 👉 Baby Boomers (1947-1964) That’s me! ☺️ We are typically known for being hardworking and valuing face-to-face communication, with a wealth of life experience – not to be sniffed at. We aren’t ‘past it’, and we certainly are not ‘dead wood’. 👉 Generation X (1965-1980) This group possess a great work ethic but seek work/life balance and people who share these values. 👉 Millennials (1981-2000) These individuals want to make a difference, and view their job as more than just salary, but they need personal development in return. 👉 Generation Z (2001-2020) This group wants constant entertainment and a progressive environment to grow in, having always had tech by their side. Fascinating, isn’t it? And, as you know, your people are your greatest asset and if you get to know what motivates them you could unlock their full potential. Food for thought? If you'd like to explore how we can support you in better understanding your generational cohorts and tailoring your approach and workplace culture, get in touch.

With a staggering 250 million individuals born between 1997 and 2012, Generation Z is rapidly asserting its influence in current-day society. In fact, it won't be long before the number of full-time Gen Z employees surpasses that of baby boomers, marking a significant shift in workplace demographics. But how might the Gen Zers affect the future economy and workforce? Thanks to booming job markets and higher wages, Gen Z faces lower youth unemployment rates and greater financial prosperity compared to previous generations at this age. With more purchasing power, this generation will likely be driving innovation and pushing businesses to adapt, particularly in the digital economy, where their tech-savvy nature fuels growth in e-commerce, online services, and digital entertainment sectors. Moreover, Gen Z's economic empowerment is reshaping their approach to work, prioritising self-care, personal fulfilment, and leisure time over traditional career advancement. As such, organisations may need to reevaluate their structures and offerings to attract and retain talent from this generation. What changes do you think Gen Z will bring in the future? More information here:  https://lnkd.in/gPwyeV3q #GenerationZ #FutureOfWork #Economy

Might be inspiring by implementing #ISO 45001:2024 and CSR/ESG. This shows also the real challenge for employers and team leaders how to deal with differences. To recognise the real needs of each group is the first step only. To find a way to implement without the feeling of inequity, so disruptive for people's commitment, might be the real challenge.

A Glassdoor report says Gen Z will overtake Boomers in the workplace next year. From the late 1970s until late 2011, Boomers held more positions in the workplace than any other generation. Gen X, a small generation, was only the largest presence from 2012-2018 when Millennials took over. Millennials outnumber all the other generations in the U.S. Glassdoor projects Gen Z will outnumber Millennials sometime in the early 2040s. #GenZ #boomer #2024

Once upon a time, when millennials were the new kids on the block, someone said this: “The workplace has become a psychological battlefield and the millennials have the upper hand, because they are tech-savvy, with every gadget imaginable almost becoming an extension of their bodies. They multitask, talk, walk, listen and type, and text. And their priorities are simple: they come first.” He obviously hadn’t met Gen Z yet! Someone put it perfectly when they said that Millennials are tech-savvy, Gen Z are tech natives. The discussion around Gen Zs in the workplace is always bound to be emotive, sometimes divisive but unfailingly fascinating. As someone who firmly falls in the ancestors category, how does it feel to hire and work with Gen Z's? My answer to this question can best be described by my belief that any organization, any manager, or any professional who struggles with working with Gen Z's is probably toxic... Before you lynch me, we are looking forward to hearing your thoughts in the upcoming discussion on Gen Z in the workplace on Wednesday at 7:00 pm EAT. Come join Yusuf S. Saleh, Otieno Victor and yours truly,moderated by Pillie Nkasara in what will no doubt be an evening for the books! Set a reminder here:https://lnkd.in/d9h3vSmC

Gen Z workers - Christina Gnozzo discusses how to manage the first fully digitally connected generation: "Today, the workplace is composed of 19% baby boomers, 35.5% Gen Xers, and 39.4% millennials. However, according to research by Johns Hopkins University, Gen Z is slated to make up 30% of the workforce by 2030. It is therefore vitally important for leaders to be in tune with the motivating trends, behaviors, and values of this growing demographic—especially if they wish to stay competitive in the world of recruitment and retention." Great advice from Christina - 30% of the workforce by 2030............ #purposedriven #datadriven #projectlighthouse #employeeexperience #customerexperience #fastcompany

Millennials are already making up the largest percentage of the global workforce, and by 2030 Gen Z will represent a third. Although there is some conjecture about the exact years of Gen Alpha, it won't be long before they also enter the workforce leading to the possibility of 5 generations working together. It's already a unique time in workplaces with potentially 4 generations working together each offering unique perspectives, bringing varied experience and #DiversityOfThought. But, are you already having trouble understanding the different generations? Ngl navigating the different generational lingo in the workplace can be tricky. Fear not as there is a universal language that can break down these barriers - the language of strengths! Imagine a workplace where Baby Boomers, (the often forgotten) Gen X, Millennials, Gen Z and even Gen Alpha can connect effortlessly. By focusing on each individual's strengths, we build a bridge of understanding that spans across generations. Embracing strengths-based communication allows us to appreciate diverse perspectives and skills, whether it's the tech-savviness of Gen Z or the experience of Baby Boomers. Let's celebrate what each generation brings to the table. By valuing strengths over stereotypes, we can collaborate, learn from each other, and create a workplace where everyone shines. ✨ To find out how we can help your workplace speak the universal language of strengths, book a free demo with us here https://buff.ly/3W4DczC #PlayToYourStrengths #PositivePsychology #GenerationalDiversity #EveryoneMatters

Gen Z is not the problem.  The problem is employers stuck in the past. The same criticisms Gen Z is receiving now are the same ones I experienced as a millennial when I first entered the workforce. Even Boomers were criticized as entitled by the generation above them. Gen Z refuses to be exploited like previous generations. Gen Z has set firm boundaries which they learned by seeing how easy it was for companies to exploit millennials. They want the exact same perks that the boomers took advantage of and then erased for all that followed. Gen Z is not the problem but I hope they become the solution.

Each employee's needs and motivations are influenced by more than just their generational label, says recruiter Steve Diamant. Today's workspace is composed of four different generations, he says. "How do you deal with millennials, gen X, gen Z and boomers in the same company?" asks Diamant. "I understand the difficulties you must face as a manager, navigating the needs and expectations of everyone, while trying to keep it fair and equal for everyone," he says. "But the reality is. It's not supposed to be equal anymore. I challenge you to think about equality v equity." How do you think managers can embrace people of all generations? Share your thoughts in the comments below.

Each employee's needs and motivations are influenced by more than just their generational label, says recruiter Steve Diamant. Today's workspace is composed of four different generations, he says. "How do you deal with millennials, gen X, gen Z and boomers in the same company?" asks Diamant. "I understand the difficulties you must face as a manager, navigating the needs and expectations of everyone, while trying to keep it fair and equal for everyone," he says. "But the reality is. It's not supposed to be equal anymore. I challenge you to think about equality v equity." How do you think managers can embrace people of all generations? Share your thoughts in the comments below.