Demographics refers to the characteristics of a population used for purposes of social studies. It has a significant impact on how managers manage and include such factors as age, income, sex, race, education level, ethnic makeup, employment status, geographic location, and more.
Age is a particularly important demographic for managers because the workplace often encompasses different age groups.
Baby Boomers are those individuals born between 1946 and 1964. The sheer numbers of people in that cohort means they’ve had a significant impact on every aspect of the external environment (from the educational system to entertainment/lifestyle choices to the Social Security system and so forth) as they’ve gone through various life cycle stages.
Gen X is used to describe those individuals born between 1965 and 1977. It followed the baby boom and is one of the smaller age cohorts.
Gen Y (or the “Millennials”) encompasses those individuals born between 1978 and 1994. From technology to clothing styles to work attitudes, Gen Y is impacting organizational workplaces.
Then, there are the Post-Millennials—the youngest identified age group, basically teens and middle-schoolers.8 This group also has been called the iGeneration, primarily because they’ve grown up with technology that customizes everything to the individual. Another name given to this age group is Generation C, since it’s a group that’s always been digitally connected.
Demographic age cohorts are important to our study of management because large numbers of people at certain stages in the life cycle can constrain decisions and actions taken by businesses, governments, educational institutions, and other organizations