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The Baby Boomers (1945-1964) vowed to change the world. Generation X (1964-1984) saw no significant change. This new generation is emerging, less naïve than the boomers, more confident than the X-ers.
The largest generation of young people since the 1960’s, those born between 1984 and 1996 (nearly 80 million of them) will be entering the work force and high school respectively. As the Baby Boom generation commanded attention because of the size, the same will hold true for their echo. It accounts for 26 percent of the U.S. population, compared with 29 percent saturation by the original generation. Generation X represents only 16 percent.
They’ve been called Generation Y and Millennials. As more research takes place a new name makes more sense and tags the entire generation. They are called Echo-Boomers because they’re the genetic offspring and the demographic echo of their parents, the baby boomers.
As 74 million Baby Boomers leave the workplace over the next 7-10 years, their progeny will be filling the gap over the same period. As this population ages they will become, as their parents before them, the next dominant generation. Advertisers, demographers, sociologists, retailers, are reaching over Generation X (now in their 30’s and 40’s) to engage and embrace this fresh, easy going generation.
Few are eligible to vote, few are old enough for positions of authority yet they are one of the most studied groups in history. Clients like NBC, Chanel, Nike, Coca- Cola, Discover Card and Levi Strauss hire marketing consultants to gather information.
What does this mean to employers? Why are some large corporations developing hiring practices and training programs to target this group rather than “re-tool” their current work force of Baby Boomers and Generation X?
Baby Boomers are staying the workplace longer. Some because they love to work (the mantra of that generation) and because they have not nurtured non-work activities or hobbies to a great extent. Some Boomers have been forced to delay retirement due to the recent economic debacle that left their savings decimated and their plans on indefinite hold.
Employers like the idea of keeping Boomers at their desks for another 5 years. Where does that leave the Generation X? It leaves them biding their time waiting for a “desk” to open up. However, some companies have decided that Generation X doesn’t have the same work ethic and drive as Boomers. Generation X doesn’t have the natural “plugged in” affinity as does the Echo-Boomer generation.
Echo-Boomers are a reflection of the changes in American over the last quarter century. They are the first to grow up with computers in their homes, in a universe of 500 channels. They are natural multi-taskers with cells phones, IPods, Twitter, Facebook and Instant Messaging.
Employers also like the demographic data that tags this generation as an echo of the Baby Boomer group they value. This generation tends to over-achieve and be over-managed and extremely pressured. Of this generation on the whole, 63% rated their parents in a positive, 29% were neutral and only 7% held a negative view. This statistic tells employers that Echo-Boomers are respectful in general and more easily assimilated into structure.
Volunteerism is very high in this group. Where the Baby Boomers were going to change the world, the Echo Boomers seem to focus on things closer to home: family and community. This desire to contribute works well in companies with strong community involvement. Mentoring programs work better with that mind set.
A contrast from Gen X (the first latch key kid generation) Echo-Boomers have been scheduled from toddler hood and whisked off to organized group activities or structured play dates by parents who felt their children needed to learn time management and diversity skills.
This constant scheduling and herding has had as much to do with shaping this generation as technology. They have been programmed by adults with a mission to keep them safe, keep them engaged in everything from martial arts, to music, to religious studies. Because of this total adult supervision and involvement this is a generation that aims to please. They wanted to please their parents, their friends, their teachers and now their bosses.
Information gathered from focus groups implies that Echo-Boomers have listened to what their Woodstock, Sex, Drugs and Rock ‘n Roll Baby Boomer parents said rather than followed their footsteps. Rules for Echo-Boomers seem to have replaced rebellion. Convention (group achievement) seems to be leading individualism. Their values are more traditional than Gen X who on the demographic whole was told to “fend for itself”.
Again, what is the benefit to employers to skip over Gen X and focus on this younger generation? Employers see a diverse population (more than ever in the workplace): 35 percent are non-white. Their life style is extremely tolerant, believing in inclusion for all in whatever community they become involved. This translates to a work force that wants to get along with co-workers, wants to please their bosses, and feels obligated to help their team achieve success.
The trend seems to be following a preference for this younger group. The explanation from some consulting firms is that companies will be able to leap frog the higher salaries of the Gen X workforce. Companies are also looking at reducing benefits and pension/retirement funding. Rather than take benefits away from their existing workforce, companies find it easier to recruit new employees and offering their leaner benefit package.
The Gen X workforce has, more than the Boomers, left the structure of Corporate America to strike out on their own. Since they are the smallest workforce this entrepreneurial exodus contributes to their dwindling numbers. Some of the ‘cusp’ (mid – late forties) Gen X employees are taking offered packages thereby lowering their numbers even more as an available workforce.
Employers are poised at a unique junction in workplace history. They are able to re-design company goals and policies around a work force that promises the ‘throwback’ qualities of stability and loyalty and the cutting edge technological skills that are as natural to them as breathing. This ‘best of both worlds’ blend might be the generation of American workers ideally suited to carry America forward in a wired world where the pace of competition ever accelerates.
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