According to 60 Minutes, some 80 million "millenials" are descending on Corporate America with aplomb. Tech savvy and self-obsessed, these 20 somethings are creating all sorts of challenges for button down HR departments. Key questions arise.
- What kinds of retirement plans make sense, especially if your workforce is an age barbell (with more younger and older workers and fewer in between)?
- How does a manager motivate the "me" moguls in waiting? ("No, you won't be promoted by the end of the week.)
- What kind of financial education must a plan sponsor provide when the younger set overspends and believes in now power? According to acclaimed author of "My Reality Check Bounced: The Gen-Y Guide to Cashing In On Your Real-World Dreams," Jason Ryan Dorsey repeats what many surveys show. Few individuals under 30 think Social Security is a reality for them.
- For parents and their employers, how do you properly plan for looming retirement when grown-up children have returned home to nest for awhile?
Despite a job slump in some industries, the future is going to be grim for those employers who fail to recognize the coming demographic time bomb. Watch "The Age of the Millenials" (May 25, 2008, CBSNews.com) and learn about youth power in the workforce.