Generation X Research Articles

Retirement Plans and Prospects for Retirement Income Adequacy

Will Americans have enough to live on in retirement? This paper attempts to address that question for the Baby Boomer and Gen Xer generations. While it is widely accepted that employment-based retirement plans have played a significant role in providing retirement income to American workers, this paper quantifies the impact that those programs have in the determination of retirement income adequacy. The analysis in this paper reveals that one of the most important factors in determining whether Gen Xers would have sufficient retirement resources is eligibility for participation in an employment-based defined contribution plan.

A CONTRIBUTION TO THE THEORY OF FERTILITY AND ECONOMIC DEVELOPMENT

AbstractThe aim of this research is to build on a theory for explaining economic development in a (neoclassical) growth model with endogenous fertility. The economy is inhabited by overlapping generations of rational and identical individuals and identical competitive firms producing with a constant-returns-to-scale technology and no externalities. From a theoretical perspective, the distinguishing feature of this work is that endogenous fertility per se explains the existence of low- and high-development regimes. It provides different reasons (history driven or expectations driven) why some countries enter development trajectories with high GDP and low fertility and others experience underperformances with low GDP and high fertility. The model is also capable to reproduce fertility fluctuations and explain the baby busts and baby booms observed in the last century in some developed countries.

Urban revival by Millennials? Intraurban net migration patterns of young adults, 1980–2010

AbstractThis study investigates neighborhood scale net migration of young adults in the top 20 urbanized areas (UAs) in the United States between 1980 and 2010. Both descriptive and regression analyses show that Generation Xers and Millennials were more likely to net migrate into central locations and less aversive to high density at their young ages than late boomers were in the 1980s. Consumption amenities are a critical factor that distinguishes the net migration patterns between young and old adult groups and became a more important location factor for young adults in the 2000s (late Gen Xers and older Millennials) than in the 1990s (early Gen Xers). There exists a considerable degree of heterogeneity across UAs and neighborhoods even within the same UAs.

Boomers, Millennials—Gen Xers!—and Post-nostalgic American Judaism: A Response to Arnold Eisen’s Sklare Address

In Rethinking Modern Judaism, Arnold Eisen applied five categories of analysis to account for patterns of Jewish observance and non-observance over two centuries. This response applies the same categories to address issues raised in Eisen’s Sklare Award address regarding the Jewish practices of American Jewish millennials. It evaluates the continued validity of Eisen’s categories of analysis, arguing that four of the five still hold. As for the fifth, nostalgia, it suggests that the power of nostalgia to compel American Jewish engagement in Jewish practice may be waning. This response introduces the notion of “post-nostalgic American Judaism,” identifies some of its sources, and frames questions about its possible consequences.

Attitudes towards unions through a generational cohort lens

ABSTRACTStudying a large American union, we report on findings from two studies investigating perceptions of and attitudes towards unions through a generational cohort lens. Study one explores the link between generational cohort and members’ perceptions of unions, employing qualitative analysis of 100 interviews: 30 Millennials, 35 Gen X, and 35 Baby Boomers. Analysis determined that union members focus on either ideological or instrumental explanations to support perceptions that their generation was either pro-union or anti-union. Themes identified in study one were further explored in a quantitative study which involved statistical analysis of survey data (n = 4717) to identify possible differences in pro and anti-union attitudes across three generational cohorts: baby boomer (n = 2857), Gen X (n = 1256), and millennials (n = 304). Data from both studies support the idea that pro-union perceptions and attitudes are more prevalent among those in the baby boomer cohort than Gen Xers, and millennials.

Do generations differ when it comes to green values and products?

Author(s): Squires, Scot | Abstract: Purpose: This study investigates the environmental beliefs of three generations to discover whether their stated beliefs match their actions in regards to green purchases.Design/methodology/approach: 1,215 participants across three generations (Millennials, Generation Xers, and Baby Boomers) answered survey questions regarding their environmental beliefs and were assigned a Green score. They also answered questions regarding the types and quantities of past green purchases. Analyses were performed to determine if there were statically significant differences among the generations.Findings: Baby Boomers were the most environmentally friendly generation. However, there was no statistically significant difference in the types of items purchased by the three generations, and Baby Boomers only slightly outpaced the other two generations in the quantity of green items purchased.Research limitations/implications:Marketers can use this research to market environmentally friendly products differently to the three generations.Originality/value:This research expands on existing work in the areas of generational cohorts and green products.Keywords: generational cohorts, green products, GREEN Consumer Values Scale Paper type: Research paper

How Retirement Readiness Varies by Gender and Family Status: A Retirement Savings Shortfall Assessment of Gen Xers

Measuring retirement security — or retirement income adequacy — is an extremely important topic. In recent years, there has been an increasing emphasis on the retirement income adequacy of widows and single women. EBRI’s Retirement Security Projection Model® (RSPM) can assess the size of households’ retirement deficit by modeling Retirement Savings Shortfalls (RSS). In this Issue Brief, an RSPM® module classifies households by the following gender and marital statuses: single female, widow, single male, and widower. Key findings are: The retirement deficit — or additional savings required to meet basic needs in retirement — is higher for both widows and single females: - The average RSS is $18,476 per individual for married households where the female dies first (widowers). - The average RSS is $22,783 for married households where the male dies first (widows). - The average RSS is $37,690 for single males. - The average RSS is $72,883 for single females. - When households for which no shortfall is projected are excluded from the analysis, the average size of the shortfall is $76,896 for widows vs. $82,937 for widowers. Single females in the lowest pre-retirement wage quartile have an average RSS of $110,412 vs. those in the highest quartile with an average RSS of only $28,951. For single males, the gender discrepancy in average RSS goes from $29,736 for those in the lowest wage quartile to $12,465 for those in the highest quartile. Not only are single females more likely to have retirement deficits, their retirement deficits are likely to be significantly larger than those of other cohorts. - Single females are the only cohort with at least 50 percent of households having a deficit. - The median RSS for this group is $19,900. - 10 percent of single females have an RSS of at least $222,592. Nearly half (48 percent) of single females at the lowest income quartile have at least a $100,000 RSS (connoting serious potential financial complications in retirement). - This compares to a third (33 percent) of single males and 42 percent of widows. - Even in the highest income quartile 13 percent of single females have an RSS of at least $100,000, vs. 7 percent for single males, 4 percent for widows, and 3 percent for widowers. Lack of eligibility for participation in a defined contribution (DC) plan significantly increases savings shortfalls. - Single females with no future eligibility in a DC plan have an average RSS of $97,325 vs. the $24,486 average RSS of those with at least 21–30 years of future eligibility. o - DC plan eligibility. - The discrepancy in average RSS between widows and widowers with no future DC plan eligibility is $6,529. In contrast, future eligibility in DC plans can dramatically reduce serious potential financial complications in retirement. - 42 percent of female households with no future DC plan eligibility have an RSS of at least $100,000 compared with 11 percent of those with 21–30 years of future eligibility. - 13 percent of widows with no future DC plan eligibility have an RSS of at least $100,000, vs. 3 percent with 21–30 years of future eligibility. Auto portability — where a participant’s account from a former employer’s retirement plan would be automatically combined with their active account in a new employer’s plan — can also have a large impact. - For those with 21–30 years of future DC eligibility, auto portability.

Know Your Library Users: How Three Generations Use Digital Tech

To better serve their users, libraries and medical librarians need to be aware of the differences among the three main generations of library patrons: Baby Boomers, Gen Xers, and Millennials. It has been proven that each generation has its own information-seeking preferences, behaviors, and backgrounds. The key to serving each group most effectively is to become knowledgeable about its characteristics, how it approaches and adapts to new technologies, and the most effective ways to communicate with each group. Gaining insight into different generations has implications for library marketing and collection development.

What's Left of Generation X

What's Left of Generation X

Theoretical and conceptual framework for population ageing research

The ageing of the population is a contemporary phenomenon, but its foundations were laid decades ago. Changing age structures and the consequent demographic ageing has only recently become the subject of theoretical (re)consideration, since the theory of demographic transition only values fertility and mortality trajectories. The emergence of ?new? demography takes into account the momentum created by the previous trends in population dynamics and explains the future rejuvenation or ageing of the population. The importance of inherited age structure can be illustrated using an approach that represents distorted cohort flows, showing that baby booms and baby busts can play a crucial role in the future ageing of the population. While in the past it was fertility that predominantly affected age structure, recent research has revealed that changes in life expectancy are becoming a more prominent factor in shaping expected population ageing trends. The general theory of population ageing would have to consider the possible compression of morbidity, dynamic equilibrium, or the expansion of morbidity, since the future course of (healthy) life expectancy is determining the scope of the old and fragile population. The status of theory in demography has long been problematic, since the ?grandiose? theory of demographic transition had to be reevaluated. Modern approaches apply more flexible theoretical frameworks to explain contemporary demographic changes and provide a conceptual background. As such, the important paradigm for the demography of ageing should be the prospective paradigm, which uses information about the longevity of the population and transposes it to population ageing research. The theory of population metabolism seems to adequately define why population ageing is important for cohorts and generation change, especially in cases where distorted cohort flows create prominent cohort oscillation. The need to create adequate policies for changing age composition morphology is highlighted in the domain of institutional adaptation, where the concept of population balance can provide the appropriate framework. Also, as life events tend to take place more often at certain points in the life cycle - for example during adulthood and entering old age - the idea of population densities should be further explored.

The Grunge Effect: Music, Fashion, and the Media During the Rise of Grunge Culture In the Early 1990s

The Grunge Effect: Music, Fashion, and the Media During the Rise of Grunge Culture In the Early 1990s

Implications of generational change: European river cruises and the emerging Gen X market

This article focuses on the Generation X (Gen X) cohort that will replace the baby boomers as the main target market for tourism experiences tailored specifically to the senior/mature market in the coming years. Its context is a successful segment of the cruising industry: the European river cruising sector. The study explores the potential impacts of this generational change on river cruising. Little is currently known about Gen X’s tourism motivations, expectations and behaviour. Generational theory is employed in this study as the framework to identify distinct features of the Gen X cohort. Using a phenomenological research design, 39 in-depth interviews were conducted with participants in two important European river cruise source market countries, Australia and the United States. Findings of this study indicate that Gen Xers have distinct tourism motivations, needs and interests that have evolved from their formative experiences. A range of political, financial and social issues have been identified that may affect Gen Xers’ predisposition towards products aimed for the mature market such as European river cruises in their currently offered format. The study contributes to tourism theory, offering an understanding of Gen Xers’ desire and ability to participate in such tourism activities in the future.

Is there an app for that? A review of mobile apps for information literacy classes

Our learners are as varied as the techniques we employ in information literacy classes. There is, however, one facet common to almost all of them, and it’s technology use. Let’s look at some recent numbers from the Pew Research Center. In the 18 to 29 age group, 94% of Americans own a smartphone, that number drops to just to 89% for ages 30 to 49.1 Tablets are also common, with 64% of Gen Xers and 54% of Millennials owning tablets.2 Spending time online also cuts across generations. In a March 2018 study, Pew reported that 77% of Americans go online daily, with 26% of that group stating that they are “almost constantly” online, and 43% noting that they go online several times a day.3

…From the Editor

In most every aspect of life, there's much to be gained by taking the long view. Also when it comes to business, the experiences of the remarkably long-lived firms in Japan known as shinise offer particular lessons in endurance and adaptability. Beginning on page 6, three U.S.-based management professors, Keiko Krahnke, Isaac Wanasika, and Brandon William Soltwisch, examine the characteristics that have enabled three venerable firms in Kyoto to thrive for so long, and highlight similarities in some traditional, albeit younger, American organizations. Nurturing an enterprise, whether young or old, requires a high degree of passion for business. On page 15, Muhammad Arshad, Omer Farooq, and Sadia Afzal tap into a study of 100 university students in Pakistan to explore the role that business schools can play in cultivating the zeal that's required to succeed in a competitive environment. Essential to any field of endeavor, higher education can have a dark side, however, according to Nick Forster and Daniel W. Lund (page 22). In their analysis of functional psychopathic behavior in institutes of higher learning, they point out the need to address manipulative conduct in colleges and universities, and offer practical guidance on how to foster a professional working environment that's collegial in every sense of the word. This issue spotlights Malaysia with a trio of case studies that detail how a variety of organizations are meeting day-to-day operational challenges in a rapidly developing, multicultural environment that attracts millions of workers from across the Asian continent. On page 32, Yen Loo Tan and Cheng Ling Tan demonstrate how lean techniques offered a toy manufacturer the promise of cutting waste to improve the efficiency of its production processes. For the leaders of a food manufacturing plant, explain Vimalambigai Muthusamy and Siti Zaleha Abdul Rasid (page 41), cutting back on the company's reliance on unskilled migrant workers and revamping its recruitment strategies to attract skilled local personnel helped improve retention rates and reduce the need for costly retraining. Finally, Muhammad Awais Bhatti, Ariff Syah Juhari, and Waheed Ali Umrani show how the HR managers at Aerospace Composites Malaysia achieved their retention goals among Generation Xers and Yers by customizing the company's training and development programs to workers of all ages (page 47). With this issue, we at GBOE bid a fond farewell to a long-time Editorial Advisory Board member and prolific contributor, Yvonne McNulty, and thank her for her dedication and service to the journal over the years. We also welcome three new Editorial Advisory Board members: Thomas E. Conine, Jr., president of TRI Corporation in Easton, Connecticut; Mary Gendron, senior vice president and managing director of Mower in New York City; Sajjad Jasimuddin, professor of management at KEDGE Business School in Marseille, France; and Mark Heymann, chairman and CEO of UniFocus in Dallas, Texas. Taking a long view, we look forward to their valued input in the years to come.

Navigating Generational Differences in Radiology.

Generations are cohorts of individuals born in a particular time period who share similar values or value systems owing to historic events that occurred at crucial times during their development. Generations are defined to study how views and values change over time and to assess the differential impact that formative experiences have on groups. Understanding and navigating generational differences will be a critical skill for radiology leaders in the coming decade, as four distinct generations are working side by side for the first time in history. The four generations currently in the workforce are categorized as traditionalists, baby boomers, Generation Xers, and millennials. Beginning in 2016, millennials became the largest generation in the U.S. workforce, surpassing the number of Generation Xers. This major demographic shift will have a profound impact on workplace culture, recruitment efforts, and trainee education. While each generation has similar basic needs, meeting those needs and motivating individuals of different generations are best accomplished using different approaches. Radiology leaders must encourage and support these varied generations to work harmoniously to foster high-performance organizations. ©RSNA, 2018.

Green DIY store choice among socially responsible consumer generations

The purpose of our empirical investigation, based on the theory of reasoned action and generational theory, is to study the green DIY retail store choice of socially responsible consumer generations (Baby Boomers, Millennials, Gen X-ers and Gen Zs). The authors base their quantitative research on structural equation modelling in an emerging market (Romania) to highlight the socially responsible consumption behavioural factors (education on environmental protection and social responsibility, rational use of resources and financial sacrifice necessary to protect the environment) which drive the customers of international DIY store chains operating in Europe in their choice of retail formats. The results reveal that there is a difference between Romanian and European-based retail chains with respect to the impact of socially responsible consumption behavioural dimensions on the choice of retail format, due to their respective communication of environmental governance strategies and different actions implemented. The research contributes to the development of the literature by establishing a connection between socially responsible consumption behaviour and retail format choice in green DIY retailing. From the management perspective, the paper provides retailers operating in emerging markets with possible directions to adapt their strategies when approaching these markets. The value of the paper lies in the application of socially responsible consumption behaviour scale and generational theory in green DIY retailing to a fast-growing emerging market, with a view to enhancing consumer retail format choice, depending on their attitudes towards social responsibility and propensity towards environmental protection.

Strategies for managing workforce generations that work

This paper analyses and summarises numerous publications about managing professional employees from different generations. Much has been written about the difficulties of having members of three distinct generational cohorts, namely the Baby Boomers, the Generation Xers and the Millennials working together. How do organisations manage these groups? Do they deploy different Human Resource management strategies for different cohorts? Are the workplace needs of each generation significantly different enough that new policies or procedures should be adopted by employers? Or, on the other hand, have these differences between generational cohorts been exaggerated by the media and popular culture? Are generational stereotypes unfairly segmenting individuals into groups based solely on one specific characteristic, namely the year in which they were born? This paper evaluates numerous publications to determine whether generational differences are fact or fiction. On the basis of a review of the literature, the authors make a recommendation on whether to leverage the generational differences and manage groups by the attributes associated with their cohort or utilise an approach that focuses on individual employees. Readers are likely to take away a philosophy for leading and managing professional staff regardless of their generation.

Exploring and Comparing Cognitive Moral Reasoning of Millennials and Across Multiple Generations

AbstractThis research builds on previous investigations seeking to understand how individuals reason about moral problems. Our research includes a preliminary investigation about Millennials and a cross‐generational analysis using secondary research data to understand this emerging generation's moral reasoning and assess trends in moral reasoning over time. This study addresses content‐bias in moral reasoning by using a new instrument with business‐based dilemmas, the Moral Recognition Interview, based on the well‐established moral reasoning framework of Lawrence Kohlberg. Results show that the Millennials in this study exhibit differences in moral reasoning based on gender, intelligence, work experience, and academic major, however not necessarily in an expected manner. Differences in moral reasoning were found when the context or “story pull” of the ethical dilemmas presented is considered. In addition, a comparison to other studies shows that business student Millennials tend to reason at lower levels of cognitive moral reasoning than non‐business college students, as well as college students in the 1960s–1970s (Baby Boomers) and in the 1980s–1990s (Generation Xers).

Deferred Income Annuity Purchases: Optimal Levels for Retirement Income Adequacy

The prospect of outliving retirement savings is a very real risk for many Baby Boomers and Gen Xers. Yet, only a very small percentage of defined contribution (DC) and individual retirement account (IRA) balances are annuitized — and a significant percentage of defined benefit (DB) accruals have been taken as lump-sum distributions when the option was available. Some believe that cost is an issue; Deferred Income Annuities (DIAs) are designed to reduce the probability of outliving savings by providing monthly benefits in the later stages of retirement. Because of their delayed payments, DIAs could be offered for a small fraction of the cost for a similar monthly benefit through an annuity that starts payments immediately at retirement. Many believe that the lower cost would at least partially mitigate retirees’ reluctance to give up control over a large portion of their DC and/or IRA balances at retirement age. New research was prepared for this Issue Brief to explore how the probability of a “successful” retirement, measured by the EBRI Retirement Readiness Rating (RRR), varies with the percentage of the 401(k) balance that is used to purchase a DIA. Results are provided for all households (with a 401(k) balance) combined as well as by simulated age of death. The results are also provided by age-specific wage quartiles. We find that, at current annuity rates, purchases of a DIA at age 65 deferring 20 years with no death benefits result in an overall improvement in RRR (for all ages of death combined) for DIA purchases equal to 5, 10, 15, and 20 percent of the 401(k) balance. However, there is an overall decrease in RRR for DIA purchases equal to 25 and 30 percent — due in part to the interaction with long-term care costs. If a pre-commencement death benefit is added to the DIA, there is an overall improvement in RRR for DIA purchases equal to 5, 10, and 15 percent of the 401(k) balance. When the results are broken out by age at simulated death, we find overall decreases in RRR for those dying before benefits begin (ages 65–84) as well as for those dying soon after benefits begin (ages 85–89). For each of the groups living beyond age 89 we find an increase in RRR, and, as expected, the larger the percentage of 401(k) balance used to purchase a DIA, the larger the percentage increase in RRR. The results are significantly improved by adding a pre-commencement death benefit for those who die before benefits begin, but this is offset by larger decreases in RRR for those dying between ages 85 and 89 and smaller increases in RRR for those living beyond age 89. The need for longevity protection is arguably less for those in the lowest wage quartile given their greater reliance on Social Security. We broke out the overall RRR changes by age-specific wage quartiles and found that in all but the smallest DIA purchase (5 percent of the 401(k) balance), households in the lowest age-specific wage quartiles experienced a decrease in RRR from the purchase of a DIA without a pre-commencement death benefit. However, households with higher wages had a much more positive experience, with those in the second age-specific wage quartile experiencing an increase in RRR for all purchases through the 20 percent value. Households in the third age-specific wage quartile experienced an increase in RRR for all purchases through the 25 percent value, and those in the highest age-specific wage quartile experienced an increase in RRR for all purchases simulated (through the 30 percent level).

Bike sharing differences among Millennials, Gen Xers, and Baby Boomers: Lessons learnt from New York City’s bike share

There is a growing literature on the changing travel patterns in the United States. The changes are largely driven by the emerging shared-mobility services and the travel behavior of the younger generations. This study builds on an investigation of Millennials’, Gen Xers’ and Baby Boomers’ bike sharing ridership in New York City. This study examines station-level bike share use focusing on whether and how the effects of land-use and built environment vary across different population segments. Using New York’s Citi Bike system data, we develop zero-inflated negative binominal models to estimate hourly trip productions at stations for five age cohorts: younger Millennials (born 1995 to 2000), mid Millennials (1989 to 1994), older Millennials (born 1979 to 1988), Generation Xers (born 1965 to 1978), and Baby Boomers (born 1946 to 1964). Consistent with the literature, our results suggest that weather related variables, land-use and built environment characteristics have significant effects on the overall bike sharing usage. Our findings also reveal variations across age cohorts. For example, intersection density is positively related to younger Millennials’ bike share trip production. However, this factor is not statistically significant for other age groups. Our findings provide valuable insights for planners and policy-makers, and set the basis for improving the understanding of cohort differences in bike sharing demand.