Tag: millennials

South Africans welcome the StatsSA announcement that inflation has fallen to 3.8%, the lowest since March 2021. However, this decrease will not necessarily lead to immediate price reductions. As a result, consumers will keep searching for specials, loyalty programmes, and discounts. These strategies help them stretch their money further.

In today's competitive business landscape, retaining top talent is essential for growth and success. One of the most impactful ways companies are keeping their best performers engaged and motivated is through group incentive travel. Unlike cash bonuses, incentive travel blends personal rewards with team bonding and brand loyalty, making it a key tool in corporate reward strategies.

Different life stages mean employees have different needs which require focused attention. Most companies in SA are feeling the pinch of a skills shortage. In the battle for talent, optimising benefits is an important lever that many organisations can do more with.

In my formative years in the 1990s and 2000s, the picture of a successful career was well-defined: a corner office, a tailored suit, a big house and, of course, a fast red sportscar in the garage.

For the first time in history, there are five generations in the workplace. From Generation Z (Gen Z) to the silent generation, the diversity of life stages is the most complicated it's been in history. In the same way that corporate culture and policies are evolving to stamp out issues like the “wage gap”, organisations need to address the issues created by the “age gap”.

Despite getting a bad rap in the past, millennials – defined as those born between 1981 – 1986 – are now all grown up. And, for an age group that was once unfairly dubbed the most narcissistic generation of all time, they’re actually pretty good parents.

I find it interesting to learn about the different perspectives that each generation has on the generational divide. As a member of the baby boomer generation, I remember living through the "generation gap" of the 1960s and early 1970s, where there was much turmoil, anguish, and misunderstanding caused by the length of hair gap between fathers and sons, not to mention the business of burning bras, which divided mothers and daughters.

Throughout the business world, old assumptions about what makes a good leader and what success in the workplace looks like are being discarded. As Gen Z and Millennials - loosely defined as those born between the early 1980s and early 2000s - continue to advance up the career ladder, their distinctly different outlook on work and life is changing age-old notions of success and leadership.

Read our exclusive cover story titled SUITS & SNEAKERS - A MILLENNIAL PERSPECTIVE ON WORKPLACE LEADERSHIP by Wayne Meisel, Business Manager, SAP Africa as well a host of other topical management articles written by professionals, consultants and academics in the August/September 2022 edition of BusinessBrief.

In 2021 alone, The Great Resignation saw 47 percent of high-performing employees leave companies to join another - for better perks, for greater resonance with their values or for more flexible, remote working - or to seek the fertile, fast-growing pastures of digital nomadism. And in terms of those who stayed?