financial crisis of 2008
and high unemployment
Social media,
election of Barack
Obama, financial
crisis of 2008 and
high
unemployment
Broad
Traits
Patriotic, loyal,
disciplined, conformist,
possessed of a high
work ethic and respect
for authority
Workaholic,
idealistic,
competitive,
materialistic,
possessed of a high
work ethic, in search
of personal
fulfillment
Self-reliant,
adaptable, cynical,
independent,
technologically
savvy, distrustful of
authority, in search
of work–life balance
Entitled, civic minded,
close parental
involvement,
cyberliteracy, appreciate
diversity, multitasking,
in search of work–life
balance, technologically
savvy
Multitasking,
online life,
cyberliteracy,
communicate fast
and online
Defining
Invention
Fax machine
Personal computer
Mobile phone
Google and Facebook
Social media and
iPhone apps
SOURCE: Adapted from J. C. Meister and K. Willyerd,
The 2020 Workplace
(New York: Harper Collins, 2010), 54–55; and R.
Alsop,
The Trophy Kids Grow Up
(San Francisco: Jossey-Bass, 2008), 5.
Table 4.3
summarizes generational differences using common labels: traditionalists, baby
boomers, Gen Xers, Millennials/Gen Ys, and the incoming Gen 2020s
. We use such labels (and
resulting generalizations) for sake of discussion. There are always exceptions to the
characterizations shown in
Table 4.3
.
77
Millennials account for the largest block of employees in the workforce, followed by baby
boomers. Thus Millennials are often managed by boomers, who possess very different values and
personal traits. Conflicting values and traits are likely to create friction between people.
Millennials also tend to change jobs more frequently than other categories of workers. For
example, the median job tenure of people between 20 and 24 is less than 16 months. This puts
pressure on companies to find ways to retain this talented segment of the workforce.
78
Goldman Sachs Group Inc. is addressing the issue head on. According to
The
Wall Street
Journal
the firm is “rethinking the way it structures bankers’ early years at the firm. The bank is
dangling carrots, including promises to speed the path to promotions and eliminating some of the
grunt work that often falls to younger employees.” In addition to lightening workloads, the
company started having “town-hall-style meetings to address grievances to keep young people on
board.”
79
Will other groups of employees view these changes as unfair? Time will tell.
Have age-related differences at school or work caused any conflicts for you? The following Self-
Assessment was created to assess your attitudes toward older employees. Because the
term
older
is relative, define
older employees
in your own terms when completing the
assessment.
Educational Levels: Mismatch between Education and Organizational Needs
There are three potential education–work mismatches:
College graduates may be in jobs for which they are overqualified.
The US Census
Bureau estimates that
26.8 percent of the US workforce has at least a college
degree.
