Tammy Erickson Associates Issues Study Results on Expected Societal Influences of a New Generation
Research Reveals the ‘Re-Generation’ is Poised To Bring Unique Approach to Life As They Move Into SpotlightApril 04, 2013 - Boston – Tammy Erickson Associates (TEA) has released results of a new study on the next influential generation – one with a significant impact on today’s social and business environments. The research shows the new generation – the Re-Generation – born after 1995, is steeped in reality, bounded by finite limits, and weaned on mobile technology. Already they are showing a commitment to stewardship of shared resources, a sense of fiscal conservatism, an innate appreciation of compromise, and an unconscious reliance on ubiquitous connectivity.
The TEA study is the result of a proprietary online survey of 1077 members of the Re-Generation – teens, ages 13, 14, 15, and 16, which was conducted at the end of 2012 and administered by Carbonview Research, as well as numerous personal interviews.
Tammy Erickson, founder and CEO of TEA, is an expert on workforce complexities and author of a trilogy that reveals why Boomers, Generation X and Generation Y bring different attributes to work. In her work, she encourages corporate leaders to leverage their workplace differences to maximize innovation. This newest research spotlights the “Re-Generation” and is a natural extension of her ongoing examination of the generations, their influence on the changing workplace, and the challenges they bring to businesses. It is the subject of a forthcoming book.
“This new, important generation will have a significant impact on society and the workplace. Today they are our children and grandchildren, our students and customers. Soon they will be our employees and colleagues in the workplace,” said Erickson. “What they want and the way they operate is very different from the generations that precede them. Smart leaders will prepare their businesses today to succeed with this new cohort.”
According to Erickson the lens from which each generation sees the world – their beliefs and behavior – is shaped by the social, political, and economic events they experience as youth. She added that “in most cases, it is between the ages of 11 and 15 when specific views and attitudes that stay with us as adults are developed.”
“Children who are 17-and-under today, have been influenced by a very different set of global events than those that shaped the ideas and preferences of previous generations,” Erickson said. “These youth have formed their attitudes in a time of worldwide financial crisis, resource limits, shifting economic power, and environmental decline.”
Erickson’s ground-breaking research provides the first detailed look at what the Re-Generation is all about – with well-informed extrapolations to what the world can expect as this generation enters adulthood.
“Our newest study shows that the dominant behaviors of the Re-Generation have significant implications for business, business leaders, and educators,” said Erickson. “For example, they save and defer gratification. Already, 56% of the respondents in our research are saving for a specific purchase they hope to make in the future. The financial industry will have to re-think their credit and financing strategies with ReGens, because they will prefer the old-fashioned lay-away purchase plans, debit cards and pre-loaded purchase cards, over credit.”
Their pragmatism was reflected in their views about school and learning. Offered a wide array of options, the number one thing Re-Gens wish they were learning in school today is how to get a job. Over a third, 37%, believe they learn more outside the classroom than they do in school.
As they move toward adulthood, Erickson believes the Re-Gens present opportunities for innovative new business models. “They view homes and automobiles as utilities. Only 12% strongly agree that a nice home is an important status symbol; only 9% strongly agree that a nice car is. Only 44% believe they are likely to ever have a mortgage.”
Erickson notes that these early preferences presage new purchasing behavior. “Re-Gens will rent, barter and trade to spread costs over a broad network of individuals. Avis’ recent acquisition of Zip Car is a savvy recognition of this trend. The bicycle rental models appearing in many major cities and online options for renting luxury apparel are other examples.”
“The Re-Gens will be strong additions to the workforce – and demanding consumers,” warns Erickson. “Leaders should prepare now to meet the needs and maximize the productivity of this new generation.”
For additional information: Celia Doremus, 781.648.2953
Tammy Erickson Associates, based in the Boston area, explores organizational change, develops unique insights, works in partnership with businesses to disseminate and leverage new ideas within their organization, and offers a specific set of hands-on services that help re-shape key organizational practices.