Retirement, Communication And The Generational Shift

Retirement affects us all—personally, professionally and within an organization. On a personal level, you may be planning for that magical age, figuring out your financial goals. On a professional level, you may want to hit a certain mark in your career, leave your résumé with a stellar position on top as your last hurrah. But as an organization? Does retirement really affect you now?

Retirement affects us all—personally, professionally and within an organization. On a personal level, you may be planning for that magical age, figuring out your financial goals. On a professional level, you may want to hit a certain mark in your career, leave your résumé with a stellar position on top as your last hurrah. But as an organization? Does retirement really affect you now?

You bet it does.

Over the next few years, 40 percent of America’s workforce will be eligible to retire. With each passing year, this number will increase. This means that the Baby Boomers who are now sustaining your organization are heading out the door. What are you planning to do about that? Who will you turn to when the Boomers are snow birding in Florida and practicing their golf swing?

If you already have a good showing of Generations X, Y and Z within your organization, you’re off to a good start. Now you need to continue your engagement with these groups in order to keep the momentum of your organization strong. If you’re like most associations, however, you are probably new to this crowd—their needs, their wants—and may need some help determining how they figure into your equation.

A good place to start is with your communication strategies. Do yours match up with the generations you’re trying to reach?

L2 Think Tank just released its Gen Y Affluents Media Study which, based on responses of 535 young adults, said that digital media is replacing traditional channels at enormous rates. In fact, 81 percent of affluent Gen-Ys said they used Facebook every day. This was double the percentage of Gen-Ys who watched TV or read the newspaper. Even more telling? More than half of these Gen-Ys said that Facebook has a hand in shaping their attitudes about brands.

Statistics like this are everywhere and they are not going away anytime soon. Do your research. Educate yourself and those at your organization. As the retirement age creeps closer for Boomers, it becomes even more essential for you to have a game plan for the next generations—or three. Just as you would with someone you’re going to hire, do some background checking. Scope them out. See what they’re like, where they work, what they do for fun. Get into their social scenes and listen to what entices them to become a part of something.

Bottom line: Get to know the X, Y and Z Generations before you’ve missed the mark. They’re fast movers and won’t stand still for long.