Connect with us

Culture

How Different Generations Approach Work

Published

on

View the full-size version of the infographic

How Different Generations Approach Work

How Different Generations Approach Work

View the full-size version of the infographic by clicking here

The first representatives of Generation Z have started to trickle into the workplace – and like generations before them, they are bringing a different perspective to things.

Did you know that there are now up to five generations now working under any given roof, ranging all the way from the Silent Generation (born Pre-WWII) to the aforementioned Gen Z?

Let’s see how these generational groups differ in their approaches to communication, career priorities, and company loyalty.

Generational Differences at Work

Today’s infographic comes to us from Raconteur, and it breaks down some key differences in how generational groups are thinking about the workplace.

Let’s dive deeper into the data for each category.

Communication

How people prefer to communicate is one major and obvious difference that manifests itself between generations.

While many in older generations have dabbled in new technologies and trends around communications, it’s less likely that they will internalize those methods as habits. Meanwhile, for younger folks, these newer methods (chat, texting, etc.) are what they grew up with.

Top three communication methods by generation:

  • Baby Boomers:
    40% of communication is in person, 35% by email, and 13% by phone
  • Gen X:
    34% of communication is in person, 34% by email, and 13% by phone
  • Millennials:
    33% of communication is by email, 31% is in person, and 12% by chat
  • Gen Z:
    31% of communication is by chat, 26% is in person, and 16% by emails

Motivators

Meanwhile, the generations are divided on what motivates them in the workplace. Boomers place health insurance as an important decision factor, while younger groups view salary and pursuing a passion as being key elements to a successful career.

Three most important work motivators by generation (in order):

  • Baby Boomers:
    Health insurance, a boss worthy of respect, and salary
  • Gen X:
    Salary, job security, and job challenges/excitement
  • Millennials:
    Salary, job challenges/excitement, and ability to pursue passion
  • Gen Z:
    Salary, ability to pursue passion, and job security

Loyalty

Finally, generational groups have varying perspectives on how long they would be willing to stay in any one role.

  • Baby Boomers: 8 years
  • Gen X: 7 years
  • Millennials: 5 years
  • Gen Z: 3 years

Given the above differences, employers will have to think clearly about how to attract and retain talent across a wide scope of generations. Further, employers will have to learn what motivates each group, as well as what makes them each feel the most comfortable in the workplace.

Subscribe to Visual Capitalist

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Continue Reading
Comments

Chart of the Week

Ranked: The Most Valuable Nation Brands

A country’s national image can have a big impact on its economic fortunes. See which countries have the highest ranked nation brands.

Published

on

nation brands 2019

Ranked: The Most Valuable Nation Brands

Talent and capital are increasingly mobile, so a country’s image and reputation — its brand — can have a big impact on the country’s economic fortunes.

This is particularly true in smaller nations such as Singapore, Switzerland, and the United Arab Emirates, which have all cultivated an investment and tourism-friendly image. Whether it’s attracting talent or wooing investment dollars, highly ranked nation brands can often outperform their rivals in the global marketplace.

The effect of a country’s image on the brands based there and the economy as a whole makes a nation brand the most important asset of any state.

– David Haigh, CEO, Brand Finance

Today’s Chart of the Week uses data from Brand Finance’s Nation Brands report, which attempts to quantify the reputations of various countries around the world.

Quantifying Perception

The report breaks down the methodology in more detail, but here how the scoring system works. Brand Finance uses three pillars to calculate a Brand Strength Index (BSI) score:

  1. Goods & Services: Includes factors such as openness to tourism, market size, and trade rules
  2. Society: Includes factors such as quality of life, corruption, and cultural image
  3. Investment: Includes items such as talent retention, use of technology, R&D, taxation, and regulation

The BSI score is then used to calculate a hypothetical royalty rate, and to forecast revenues to ultimately derive a brand value (post-tax revenues discounted to calculate a net present value). This calculation produces the “Brand Value” of a country.

The Most Valuable Nation Brands

One of most impressive gains came from second-ranked China, which is rapidly closing the gap separating them from the United States. China’s brand value surged over 40% to $19.4 trillion — more than the cumulative brand value of the next five countries.

Not to be outdone, the United States also posted impressive numbers. Despite being a mature economy, the country’s brand value grew by 7.2% over the last year.

Here is the full top 10 list:

RankCountryNation Brand ValueChange vs 2018
1🇺🇸 United States$27.8T+7.2%
2🇨🇳 China$19.5T+40.5%
3🇩🇪 Germany$4.9T-5.7%
4🇯🇵 Japan$4.5T+26.0%
5🇬🇧 United Kingdom$3.9T+2.7%
6🇫🇷 France$3.1T-4.0%
7🇮🇳 India$2.6T+18.7%
8🇨🇦 Canada$2.2T-1.8%
9🇰🇷 South Korea$2.1T+6.7%
10🇮🇹 Italy$2.1T-4.7%

Top Countries by Brand Strength

One characteristic of the brand value score is that it’s heavily weighted towards the world’s larger economies. The BSI score, by contrast, may be a more accurate reflection of a government’s guidance of its nation brand as it eliminates the inherent GDP advantage that these bigger economies have.

Using the BSI scoring method, Singapore comes out on top — as it has every year since it supplanted Germany in 2015. The highly prosperous city-state serves as the business hub of Southeast Asia and is renowned for its world-class education, healthcare, transport, and low crime levels. These factors, paired with the nation’s unwavering political stability and commitment to its ‘Future Economy’ strategy, makes the island a very strong and stable nation on the global stage.

The top 10 strongest nation brands:

RankCountryBrand Strength Index (BSI) ScoreChange vs 2018BSI Rating
1🇸🇬 Singapore90.5-1.9AAA+
2🇨🇭 Switzerland89.9-0.3AAA+
3🇳🇱 Netherlands89.6+1.9AAA+
4🇩🇪 Germany88.2+3.5AAA
5🇱🇺 Luxembourg86.9+2.1AAA
6🇦🇪 U.A.E.86.6-1.9AAA
7🇫🇮 Finland86.4-1.0AAA
8🇯🇵 Japan85.8+1.9AAA
9🇺🇸 United States85.7+0.1AAA
10🇩🇰 Denmark85.6+2.6AAA

The United States makes the top 10, but has fallen in the rankings since sitting at fourth place in 2014. That isn’t necessarily an indictment of the U.S. though — the country’s rating has improved somewhat, moving from AA+ to AAA over that same time period.

Turkey was one of the success stories of 2019. The country’s BSI score rebounded by nearly 50% after experiencing a large drop in 2018.

Subscribe to Visual Capitalist

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Continue Reading

Cannabis

Visualizing the Boom in the CBD Beverage Market

CBD-infused beverages are considered to be the fastest growing segment in the overall cannabis market. How did this partnership of brews and bud come to be?

Published

on

Visualizing the Boom in the CBD Beverage Market

It’s safe to say that the cascade of cannabis legislation has sent the world into a constant state of flux. We are witnessing a seismic shift in culture, as cannabis steps out of the black market and into unexpected industries—from big pharma, to beauty, and now to beverages.

According to Zenith Global, the U.S. CBD-infused drinks market will reach an estimated $1.4 billion by 2023, making it one of the fastest-growing segments in the overall industry.

Today’s infographic comes to us from Trait Biosciences, and outlines the magnitude of the CBD-infused beverage segment, along with some of the subsequent challenges and opportunities that will shape the future of cannabis.

CBD and its Benefits

CBD is an abbreviated term for cannabidiol, a type of cannabinoid that makes up 40% of a cannabis plant’s extract. It has become increasingly popular for relieving pain, promoting relaxation, and lifting mood without the psychoactive properties that come with THC (Tetrahydrocannabinol), the other major cannabinoid.

Recent studies suggest that CBD’s properties may be useful in combating a variety of health conditions such as epilepsy, schizophrenia, multiple sclerosis, migraines, arthritis, and even side effects of cancer.

The New Wave of Beverages

CBD-infused beverages will open the floodgates to new audiences who want to consume cannabis in different formats. They have many benefits, that will rival other methods of ingestion:

  • Easy to Administer
    Beverages are seen as the healthier way to consume CBD, especially compared to smoking.
  • More Accessible
    They are becoming more easily available in restaurants, bars, supermarkets, and online sites.
  • Functionality
    There is some evidence to suggest that CBD in caffeinated products can curtail the feeling of being on “edge”.
  • Higher Precision
    Dosage is controlled and, much like alcohol, consumers will be able to determine how much CBD content they want.
    • Both alcoholic and non-alcoholic product categories are currently being explored, resulting in some unexpected partnerships, such as Molson Coors—the world’s seventh largest brewer—and Hexo Corp, a Canadian cannabis product company.

      Trends Shaping the Future of CBD Beverages

      The CBD product landscape is constantly evolving. Demand for CBD-infused beverages will be fueled by three key trends.

      1. Changing Consumer Preferences: The decline of alcohol sales globally is evidence of changing consumer tastes. Sales are expected to fall further as more people exchange alcohol for cannabis products.
      2. Product Innovation: Sustainable packaging, transparency around ingredients, more convenient ready-to-drink solutions, and personalized strains are driving the furious pace of product innovation.
      3. Big Players and Influencers: Growing knowledge and increasing brand/celebrity endorsements are creating an established CBD industry in mainstream culture. Already, singer Willie Nelson and former NFL star Terrell Davis have put their names to two seperate lines of CBD-infused beverages.

      As these trends evolve, consumers will benefit from more education around CBD, which could lead to more CBD products, like beverages, entering the mainstream across numerous industries.

      What’s Next for the CBD-infused Beverage Market?

      CBD purity is a primary focus area of current scientific studies. For consumers, more transparency is needed around ingredients, dosage levels, and product labeling. For example, the state of Indiana now mandates that manufacturers must label CBD products with QR codes that can be scanned to show whether they contain acceptable levels of THC, CBD, pesticides, and other compounds.

      Most notably, new methods of CBD infusion will transform the beverages market. Many industry players have used nano-emulsion to infuse CBD. However, these fat-based nanoparticles have been known to accumulate in organs, causing health concerns. That’s why creating water-soluble CBD has been an emerging industry priority.

      CBD-infused beverages are poised to become the next big thing and create massive economic growth—despite strict industry regulations. Scientific advancements and changing laws will unlock the potential of the CBD market, potentially disrupting the entire beverage industry.

      Subscribe to Visual Capitalist

      Thank you!
      Given email address is already subscribed, thank you!
      Please provide a valid email address.
      Please complete the CAPTCHA.
      Oops. Something went wrong. Please try again later.

Continue Reading
Cartier Resources Company Spotlight

Subscribe

Join the 130,000+ subscribers who receive our daily email

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Popular