Infographic: How Different Generations Approach Work
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How Different Generations Approach Work

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How Different Generations Approach Work

How Different Generations Approach Work

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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.

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Demographics

Mapped: The Geography of Global Literacy

Global literacy mapped by generation, as well as a look at how the data on literacy has changed over time by country.

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Mapped: The Geography of Global Literacy

Literacy is a fundamental building block that can lead to a strong education, the ability to solve complex problems, and gaining the skills and knowledge to participate meaningfully in society. As a result, it’s also an important facilitator of economic development.

However, it’s estimated that nearly 800 million adults around the world still lack basic literacy skills—and this can create ongoing drag on the economy.

In the U.S., as one example, the people with the lowest literacy scores are 16.5x more likely to receive financial aid from the government. At the same time, they are also more likely to be in the lowest earning wage group, earning less than $300 per week.

Today’s post uses charts from Our World in Data, and it shows what literacy looks like on a global scale, and how is it shifting from generation to generation.

Global Literacy: The Big Picture

Over the past two centuries, global literacy has seen steady growth.

In the year 1800, it’s estimated that a mere 12.1% of the world was able to read and write. The most recent data shows the numbers have actually flipped—and now just 13.8% of the global population is illiterate.

It’s clear that from a high level, progress towards global literacy is being made.

But at the same time, a look at the graph shows that in more recent years, the rate of change has been slowing as we reach the “last mile” of literacy.

The Generational Perspective

Learning to read and write is easiest and most fruitful at a young age, and it’s a skill that is very unlikely to be lost later in life. For that reason, it’s worth looking at the difference between older and younger generations in terms of who is learning these skills.

For this, we zoom into the Middle East and Northern Africa region, which is where the majority of recent gains in literacy have been made:

Illiterate population by generation

Here, the difference in literacy between the 15-24 year age group and those over 65 years is substantial, with countries seeing large, double-digit increases in the ability to read and write:

  • 🇩🇿 Algeria
    The literacy rate is at 92% for the 15-24 age group, compared to 16% of the oldest generation
  • 🇮🇷 Iran
    99% of the 15-24 age group is literate, while 29% of the oldest generation can say the same
  • 🇴🇲 Oman
    98% of those aged 15-24 are literate, compared to just 23% in the 65+ age group
  • 🇸🇦 Saudi Arabia
    98% of those aged 15-24 can read and write, versus 26% of those in the oldest bracket
  • 🇪🇷 Eritrea
    The literacy rate is at 90% for the 15-24 age group, and 18% for those in the 65+ age group

It’s not that surprising then, that the above countries all now sit in the 75-95% percent range for overall literacy—a number that will likely improve further as education systems continue to help younger generations become literate early in life.

The Literacy Opportunity

While some countries have seen obvious generational improvements in literacy, there are places in the world where changes to educational systems have not fully yet manifested yet, or perhaps the data is not yet available for.

According to the interactive map above, here are some places on each continent where progress must still be made:

  • North America
    Literacy rates: 🇭🇹 Haiti (61%), 🇬🇹 Guatemala (79%), 🇳🇮 Nicaragua (82%)
  • South America
    Literacy rates: 🇬🇾 Guyana (88%)
  • Europe
    Literacy rates: 🇽🇰 Kosovo (92%)
  • Asia
    Literacy rates: 🇦🇫 Afghanistan (38%), 🇵🇰 Pakistan (56%), 🇧🇩 Bangladesh (61%), 🇾🇪 Yemen (70%)
  • Africa
    Literacy rates: 🇳🇪 Niger (19%), 🇬🇳 Guinea (30%), 🇸🇸 South Sudan (32%), 🇲🇱 Mali (33%), 🇨🇫 Central African Republic (37%), 🇸🇴 Somalia (38%), 🇧🇯 Benin (38%)
  • Oceania
    Literacy rates: 🇵🇬 Papua New Guinea (62%)

With many NGOs and educators focused on this problem, there is hope that the “last mile” of global literacy can be solved, leading to more economic opportunity in these places—and also the world itself as a whole.

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Demographics

The Richest Women in America in One Graphic

Only 12% of billionaires in the U.S. are women. Who is part of this prestigious group of the richest women in America?

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The Richest Women in America in One Graphic

The majority of the world’s billionaires hail from the United States.

But of the 724 American billionaires whose net worths are tracked daily by Forbes, only 86 are women. That’s just 12% of the country’s billionaires.

This visualization examines the select few who have made the cut into this prestigious list, using data compiled from Forbes’ real-time billionaires list.

Note: All data is as of November 1, 2021 unless otherwise stated.

Top 10 Richest Women in America

Since 2020, MacKenzie Scott has donated over $8.5 billion and counting of her wealth. Yet, she still remains one of the richest women in the world. This is largely due to the Amazon shares that she received in her divorce settlement.

Amazon’s stock performance soared amid the pandemic, which resulted in the initial value of her shares ($38.3 billion) nearly doubling.

Top 10 overallNameNet WorthAgeSource of wealth
#1Alice Walton$68.1 B72Walmart
#2MacKenzie Scott$56.1 B51Amazon
#3Julia Koch & family$52.2 B59Koch Industries
#4Jacqueline Mars$31.5 B82Candy, pet food
#5Miriam Adelson$29.2 B76Casinos
#6Abigail Johnson$26.2 B59Money management
#7Laurene Powell Jobs & family$16.7 B57Apple, Disney
#8Diane Hendricks$11.7 B74Roofing
#9Ann Walton Kroenke$9.3 B72Walmart
#10Blair Parry-Okeden$8.8 B71Media, automotive

Miriam Adelson inherited her late husband’s 57% stake (worth ~$19 billion) in Las Vegas Sands, making her one of the richest newcomers to the Forbes list. The casinos have locations across Las Vegas, Singapore, and Macao.

Several of the women in this top 10 list also share membership with some of the richest families in America—from the Walmart Waltons, to the Johnsons at the helm of Fidelity Investments and Fidelity International.

The Oldest Richest Women in America

The oldest female billionaire in the world, Alice Schwartz, is 95 years old. She co-founded Bio-Rad Laboratories with her husband, which operates in the life sciences research and clinical diagnostics markets. They started the company in 1952 with only $720 in the bank.

OldestNameNet WorthAgeSource of wealth
#1Alice Schwartz$3.0 B95Biotech
#2Wilma Tisch$1.4 B94Diversified
#3Doris Fisher$2.8 B90Gap
#4Johnelle Hunt$4.7 B89Trucking
#5Marian Ilitch$4.4 B88Little Caesars
#6Pauline MacMillan Keinath$8.5 B87Cargill
#7Margot Birmingham Perot$4.2 B87Computer services, real estate
#8Martha Ingram & family$3.9 B86Book distribution, transportation
#9Janice McNair$4.2 B85Energy, sports
#10Norma Lerner$1.1 B85Banking

After her husband’s passing in 2018, Janice McNair (aged 85) took over his 80% stake in the NFL team Houston Texans, which ranks highly as one of the world’s most valuable sports teams. This also subsequently catapulted her position as being among the wealthiest sports owners in the country.

The Youngest Richest Women in America

In the online dating era, Whitney Wolfe Herd has made a name for herself. The female-first dating app she co-founded, Bumble, grew into a formidable competitor for her former employer, Match Group (which owns Tinder and OkCupid, among others).

At age 31, Wolfe Herd became the youngest self-made female CEO in the country after Bumble’s $2.2 billion IPO in February 2021.

YoungestNameNet WorthAgeSource of wealth
#1Whitney Wolfe Herd$1.2 B32Dating app
#2Rihanna$1.7 B33Cosmetics, music
#3Neha Narkhede$1.4 B37Software
#4Lynsi Snyder$4.2 B39In-N-Out Burger
#5Kim Kardashian West$1.2 B41Cosmetics, reality TV
#6Jane Lauder$6.7 B48Estée Lauder
#7Amy Wyss$2.0 B50Medical equipment
#8Sara Blakely$1.2 B50Spanx
#9MacKenzie Scott$56.1 B51Amazon
#10Aerin Lauder$4.2 B51Cosmetics

Wearing many hats from influencer to entrepreneur, socialite Kim Kardashian West’s cosmetics and fashion companies (KKW Beauty and shapewear line Skims) have catapulted her to a newfound billionaire status. She has a set of diverse revenue streams, from reality TV royalties to blue-chip and real estate investments.

Top 20 Self-Made Richest Women in America

The self-made label is an additional fascinating avenue to explore. Forbes defines this category as people who establish a fortune independently, rather than partly or wholly through inheritance.

One of the newest entrants into this mix is Rihanna. She already enjoyed significant success as an entertainer, with her claim to fame being one of the best-selling artists of the 2010s. However, it was her entrepreneurial spirit that put her on the Forbes list in August 2021. Rihanna owns 50% of her cosmetics company, Fenty Beauty. The other half is run by Bernard Arnault, who is among the world’s top billionaires.

Here is the rest of the top 20 self-made richest women in America:

Self-MadeNameNet WorthAgeSource of wealth
#1Diane Hendricks$11.7 B74Roofing
#2Judy Faulkner$6.5 B77Health IT
#3Meg Whitman$6.3 B65eBay
#4Judy Love$5.2 B84Retail and gas stations
#5Marian Ilitch$4.4 B88Little Caesars
#6Johnelle Hunt$4.1 B89Trucking
#7Thai Lee$4.1 B62IT Provider
#8Lynda Resnick$4.0 B78Agriculture
#9Gail Miller$3.2 B77Car dealerships
#10Doris Fisher$2.8 B90Gap
#11Alice Schwartz$3.0 B95Biotech
#12Oprah Winfrey$2.7 B67Media
#13Elaine Wynn$2.2 B79Casinos, hotels
#14Peggy Cherng$2.0 B73Fast food (Panda Express)
#15Sheryl Sandberg$1.9 B51Facebook
#16Rihanna$1.7 B33Cosmetics, music
#17Jayshree Ullal$1.7 B60Computer networking
#18Safra Catz$1.6 B59Software
#19Jenny Just$1.5 B53Fintech
#20Eren Ozmen$1.4 B62Aerospace

Source: Forbes, as of Aug 2021 (latest available)

For those paying attention to the rapid rise of the fintech industry, Jenny Just’s entry on this list will come as no surprise. Her firm, Apex Fintech Solutions powers the trading technology behind companies like SoFi and eToro. In fact, she has started or bought 15 businesses in the space in just 24 years.

As the richest women in America continue to make great strides, this list could look very different in coming years.

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