MEDIA |
NOVEMBER 2022
Generations Think Differently
Bill Boyajian
Unless you have been living under a rock or on a lonely island somewhere, you know that the thinking of multiple generations in our work force differs markedly. This isn’t necessarily a bad thing. It’s more a function of the times people live in during their formative years.
Every generation has been shaped by its times. Those in the traditionalist generation – often called The Greatest Generation – were shaped by the Great Depression and World War II. Born from 1925-1945, they are rarely still in our workforce, but they had a big impact on how Baby Boomers – shaped by the Vietnam War, the Civil Rights Movement, and Watergate – think and act.
Michou
Sterling & 22K Vermeil,
topaz, kyanite, pearl and quartz necklace
MSRP $595
530.525.3320
Many jewelry businesses today are owned by Baby Boomers born between 1946 and 1964. They are motivated by a sense of duty, honor, teamwork, and company loyalty. They believe in sacrificing for success and that whatever they have achieved is a result of paying their dues.
When Boomers look to the next generation (Gen Xers – a much smaller group demographically, born between 1965 and 1980 and shaped by the AIDs epidemic, the Fall of the Berlin Wall, and the Dot-Com Boom), they see some similar traits, but with a bent toward greater life balance, a bias toward diversity, and a lesser adherence to life-long company loyalty. It’s nothing personal. They would simply like to differentiate between personal and professional interests.
Generation Y (Millennials) is now the most dominant generation in our workforce. They are demographically similar to Boomers in population. After all, they are the sons and daughters of Boomers born between 1981 and 2000. They are highly opinionated about workplace experiences and the quality and attitudes of their superiors. They take work-life balance to a new level and seek flexible schedules and unique work experiences that Boomers and Xers only dream about. They, like all generations, have been shaped by the times they live in. For Millennials, the key issues were 9/11, the Internet, and the emergence of social media.
Generation Y (Millennials) is now the most dominant generation in our workforce. They are demographically similar to Boomers in population. After all, they are the sons and daughters of Boomers born between 1981 and 2000. They are highly opinionated about workplace experiences and the quality and attitudes of their superiors. They take work-life balance to a new level and seek flexible schedules and unique work experiences that Boomers and Xers only dream about. They, like all generations, have been shaped by the times they live in. For Millennials, the key issues were 9/11, the Internet, and the emergence of social media.
Then enter Generation Z, those born beginning in 2001, who are now graduating from college and entering the workforce. Shaped by The Great Recession and access to technology almost from birth, they are progressive, independent, innovative, entrepreneurial, diversity focused, and digitally adept. And they prefer to work with Millennial managers who understand them better than most other generations.
Then enter Generation Z, those born beginning in 2001, who are now graduating from college and entering the workforce. Shaped by The Great Recession and access to technology almost from birth, they are progressive, independent, innovative, entrepreneurial, diversity focused, and digitally adept. And they prefer to work with Millennial managers who understand them better than most other generations.
Boomer owners long for the times and the people they grew up with, who think and act like they did. But there is no return to “normal,” or even a “new normal,” especially after the pandemic. There are only new realities, and jewelry retailers’ ability to adapt quickly and decisively is what will separate them from the crowd.
Many jewelry stores not only have Boomer owners, but they also have Boomer sales staff who, like their owners, are similarly close to retirement. The younger people they hire are varied – from Xers, to Millennials, to Gen Zers. The ability to adapt and learn from these younger generations is a key to the longevity of the businesses themselves.
There is a reason generations need to transfer ownership and leadership over time. As a jewelry retailer, you need a mix of generations selling your jewelry. Customers in different age groups are more inclined to want a salesperson in their age group. Younger people are more in tune with today’s fashion and styles, and you need to attract those bridal customers to your store who will become your new customers over time.
Martha Seely
Blue hour 14ky with
Ethiopian opal & diamond pendant
MSRP $1,835
617.899.2162
Jewelry Innovations
Serinium® Bourbon oak
barrel inlay ring with
carved finish
MSRP $636
800.872.6840
Learning the characteristics and traits of all generations is wise, and knowing how to lead, motivate, and even cope with their idiosyncrasies is equally important.
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