Before they were called Generation X, they had a few other names applied to them, including Latchkey Kids. For the first time in history, kids spent a great deal of time on their own. Great harm to their psyches was predicted thanks to this lack of parental supervision, but it turns out that most of the people who make up Generation X actually turned out ok.
Gen X Members are Engaged in their Communities
According to The Jury Expert, members of Generation X had been criticized unfairly as “slackers,” “unmotivated,” and “unhappy” by Baby Boomer journalists. However, longitudinal studies showed that in actual fact, by 2011, 86% of Gen Xers were employed and were active members of their community. They participated in organizations supporting their children, in book clubs, professional associations and other groups. Their divorce rate was also less than that of their parent’s generation.
That was in 2011.
Gen X Members are Found Half of all Startups and the Majority of Founders are Women
In 2015, Sage surveyed startup businesses and revealed its findings in the 2015: State of the Startup report and their findings showed that 55% of all startups in the past 5 years had been by Gen X. Considering all these startups, 99% of the founders had graduated high school, and 70% had at least a two-year degree. The startups themselves were small – from 1 to 5 employees, and over half of the founders were women.
According to an article in Forbes, “The Undetected Influence of Generation X,” Gen Xers are no Baby Boomers. They aren’t afraid of new technology and embraced computers as soon as they came on the scene.
Gen X is also “changing the nature of work,” according to CNBC. Gen Xers now occupy 51% of all leadership roles in companies as a whole. “With an average of 20 years of workplace experience, they are primed to quickly assume nearly all top executive roles.” In addition, “The oldest Gen X workers will likely still be in the workforce for at least 10 years, and the younger members of the generation may still be working for more than 30, meaning that Gen X will be forming the backbone of organization’s leadership for quite some time.”
Corporations with significant Gen Xers in their workforce – and there are many of them – should embrace these employees now and benefit from their abilities and drive. Companies that cater to start-up businesses would do well to cater to Gen Xers in their marketing campaigns.
Gen X was the last generation to grow up in a “computer-free world.” Millennials, in contrast, are called “digital natives” because they’ve never known a time when there wasn’t a computer or smartphone in every home. Gen X has the spending power that Millennials lack, and the initiative and education to start and run successful businesses. No generation should be neglected, of course, but making a special effort to target Gen Xers would be a wise course.
About Mr. Brown: Mr. Rory Brown is a Managing Partner of NB & Co. and the Chairman of the Board of Directors of Ad Genius, Goods & Services, and Nearshore Technology Company. He works with management teams and experienced leaders on sales and marketing, technology, and strategic initiatives. Mr. Rory Brown is a Certified Public Accountant and received a Master of Business Administration from the University of Charleston, SC.