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Millennials, Gen X Dominate Workforce in 2020

by Olufisayo
Millennials, Gen X Dominate Workforce in 2020

The human lifespan has grown significantly in the last century. Since 1900, the average life expectancy of humans has grown well over 70 years, leading to a very interesting situation: there are now several generations (demographics) involved in the workforce.

Today, we have people in their sixties working alongside their much younger counterparts in a business world that’s changing rapidly, shifting toward a much more digital, automated, and connected nature.

For each of the demographics active today, there are different things to keep in mind when it comes to their aspirations and attitudes toward work.

Demographics at the workplace

Most of the “Baby boomers”, the generation born between 1946 and 1961, have already retired or are close to retiring. The generations coming after the “Boomers” are Generation X (born between 1965 and 1980), the elusive “Xennials” (Gen X-ers who qualify as digital natives), Millennials (born between 1981 and 1996), and Generation Z, the newest demographic to enter the workforce, born between the mid-1990s and the mid-2000s.

Each of these demographics has a different attitude toward the increasingly connected world we live in today. According to a recent study, the workforce in 2020 will consist of Millennials and Generation Z (about 70% in total), with Baby boomers making up only about 6% of the active workforce.

       

The attitude toward work, the aspirations, and skills of each of these demographics differ, quite significantly in many cases. The things to keep in mind when hiring Gen-Z-ers set them apart from other demographics. And they don’t keep their opinions to themselves either – they know all the platforms where they can share their opinions about their employers.

Different aspirations

Millennials have been accused of “killing” many industries over the last decade – actually, they simply refuse to conform with the “norms”, following their own way instead, and making “experiences” the focus of their lives rather than mere products. This aspiration to follow their own way reflects in their attitude at work, too: they seek flexibility and freedom.

They no longer believe in the “9 to 5”, preferring a flexible schedule instead, and they are interested in “telecommuting” and flexible hours. Many of them prefer shared spaces and hot-desking (a system where workers don’t have their own desk but use one only when needed) to the rows of desks or cubicles preferred by the previous generations.

There are, in turn, many things that all demographics have in common: they want to be appreciated, to be proud to be working for a certain organization, and feel accomplished by doing so. This makes them happier at work and, if combined with recognition of their merits, will make them more loyal to their employer. In most cases, even a simple “thank you” will do.

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