logo
What Gen Z gets right about work – and how we can learn from them

What Gen Z gets right about work – and how we can learn from them

Telegraph17-04-2025

Here's a thing I never thought I'd say. No word of a lie, there's a vein standing out on my forehead as I type, but here goes: Baby Boomers could really learn something from Generation Z.
I know, I know. But hear me out. It's not teaching Granny how to suck avocados or persuading Grandad to wear sliders and pull his white ankle socks up to mid-shin level.
We can safely disregard side-by-side texting instead of talking, situationships instead of relationships, and don't even get me started on the return of the mullet along with ditching booze.
No. Far more astonishingly, this inter-generational wisdom has to do with work. Yes, that dirty little word that makes anyone under the age of 28 shudder.
It turns out that the prospect of employment has pretty much the same effect on people in their 60s – to the detriment of society. The International Monetary Fund (the world's nanny) has just declared that public health improvements mean '70s are the new 50s' and they are urging those of retirement age to keep grafting instead of putting their feet up.
Detailed research into a one million-strong cohort aged 50 and beyond has revealed that someone who celebrated their 70 th birthday in 2022 had the same cognitive function as the average 53-year old in 2000.
Physical tests including grip strength and lung function bears out the evidence that retirees are fitter and sharper today than ever before, which begs the question – over in the IMF at any rate – why on earth are these taxpayers retiring when they could keep working and contributing even more than they have already?
I think we all know the reasons and off the top of my head the first three hit the G-spot multiple times over; golf, gardening, grandchildren. Good books, bad behaviour, surfing like those silver foxes in wealth management adverts. Nordic walking. Repairing stuff. Art history courses. Cruises!
My husband retired last year aged 64 and he's never been busier. Who knew pottering and researching the Durham Light Infantry could take all week? Weekends too! Why, he's off to Belgium with our elder daughter this week to bone up on Bruegel and swoon at the Ghent altarpiece. Beats working for a living. Or does it?
Not according to the scoldy IMF, which is warning that debt-laden governments can't afford to let growing numbers of fit and sharp older people lean back and enjoy a long retirement. Increased life expectancy along with falling birth rates is creating a demographic time bomb that will catastrophically impact the public purse.
And that's my husband's problem, because…? Sorry, the deal was that he and everyone else in his generation put the hours in, dutifully paid their taxes and could thereafter joyfully spend every waking hour in the National Archives.
I know that sounds facetious. In truth, I'm not entirely economically illiterate. I get it. Unfortunately. the IMF doesn't. Like all big institutions, it fails to grasp the single most important variable: human nature.
Thus it is calling on governments to whack up the pension age, slash early retirement benefits and 'encourage' (i.e. bully) us into staying in our jobs for the sake of… fiscal patriotism.
Far better to apply psychology. Sell it to us as a positive choice; studies consistently show that working longer is better for mental health, boosts social engagement and reduces loneliness. But, crucially, those jobs need to be part-time. Oh yes, and available.
I don't know anyone over 50 who has successfully re-entered the workplace after redundancy or a career break. So maybe the IMF could remind employers that age brings wisdom? Along with reliability. Oh, and a wonderfully old-fashioned willingness to actually go into the office. Which brings me back to Generation Z and their preposterous, princessy insistence on a work-life balance to avoid burnout. Preposterous at 25 but not at 65, when there just might be something in it.
Enter (drum roll please) the golden age of micro-retirement. This was coined a while ago but Gen Z are huge converts; it is essentially taking a sabbatical every few years to take selfies in Uzbekistan or make kimchi.
It can be for six weeks or six months but the main thing is that it feeds their souls. Anyway, the young'uns then return to the workplace, refreshed and broke because the kimchi market is, like, already saturated?
So taking a leaf from their book, how does a micro-retirement appeal to all you lively, productive pensioners? Of course micro-retirements are predicated on employers playing ball. But then if they are so desperate for fit and fit-for-purpose older employees, surely they can get creative?
In fact, put a 65-year-old woman in charge of the rota and she'll sort out the logistics; job shares, part-timers, skilled workers on contracts. Complicated? Not at all. In fact, positively simple after bringing up a family, juggling half terms and caring for relatives, all while holding down a full-time job.
But does this sort of hot-desking equate to upheaval? Again, no. Retirees are the generation who still speak to one another, making holiday (oops, sorry, micro-retirement) handovers a breeze.
Sure, the technology may be a challenge initially, but think on this: because they've spent many decades navigating life's big challenges, older workers don't sweat the small stuff. And what employer doesn't dream of that?

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Why baby boomers are the backbone of middle-class Britain
Why baby boomers are the backbone of middle-class Britain

Telegraph

time2 days ago

  • Telegraph

Why baby boomers are the backbone of middle-class Britain

Why do so many younger people feel they are disadvantaged relative to older generations? The narrative of intergenerational 'unfairness' – recently explored in a Telegraph piece on whether boomers are the 'victim generation' – pervades social discourse, and I find it really troubling. Pitting one section of society against another, on the basis of perceived 'fairness', damages the fabric of our country. In truth, there are vast differences in income and wealth throughout the population, both across and within age groups. Many young people are well-paid, and they certainly enjoy far more leisure time and holidays than previous generations, along with flexible working and much better employment protections than the baby-boomers could ever have imagined – which we have fought hard to achieve. Indeed, the post-war baby-boomers are the backbone of middle-class Britain, and have been the bastion of trying to safeguard British values while championing progress. Of course, there are vast differences among people in their 60s and early 70s, but in general, they tend to have a strong work ethic – want to support themselves and their families, avoid living on benefits – and will work even when feeling unwell, because they are loyal to their employer or their business. This is the generation that built the country we know and love today – they are disciplined, self-reliant and resourceful, unafraid of competition, and strive to improve themselves and help their families as much as they can. As Anthony New, a Telegraph reader, puts it: ''When we were growing up, many of us were very poor but we worked hard and balanced our budgets carefully.' The baby-boomers are also the heart of many of our charities and volunteering networks. They take responsibility for others, not just themselves, and want to 'give back' to society. They tend to be very community-minded and want to 'do the right thing' – which sometimes requires self-sacrifice, but baby-boomers have been brought up to believe this is how society works well. Their parents, who went through the war years, had real deprivations, while baby-boomers had very little when young but nevertheless worked hard to rebuild the country, taking advantage of post-war industrial and technological improvements. Despite all of this, too many commentators blame baby-boomers for selfishly gathering more than their 'fair share' of national resources, depriving them of their rightful dues. They accuse them of being 'lucky' to afford their own homes, enjoy free university education, and get big pensions. These accusations are much more perception than reality. Of course those at the end of their career will be better off than those just starting their working life. As Deborah Skinner, another Telegraph reader, puts it: 'We worked bloody hard throughout our life. Never had savings or a rich family to fall back on.' The baby-boomers scrimped and saved to afford sky-high mortgage interest. No holidays, spending cut to the bone, and working for years before they could buy a property. Less than ten per cent of baby-boomers went to university. The vast majority started work at 15, 16 or 18 – with many going into apprenticeships, bringing home an income straight from school. So by the time they reached their late twenties, they had already been earning money and saving for ten to fifteen years. Today's younger people, many of whom have higher education, do not reach this point until their early or mid-thirties. And as for pensions. Well, less than half of baby-boomers – and particularly women – were offered an employer pension. There was no auto-enrolment, no automatic right to a pension or any other workplace benefit. Women could be barred from pensions and generous maternity rights. Even basic employment protections against harassment and unfair dismissal were not the norm – we had to fight for women's working conditions to improve. So, it's time to stop this 'oldie bashing' and start to appreciate that each generation contributes to society, and the intergenerational envy that has crept into conventional thinking for too many younger people does not reflect reality. In fact it builds dangerous resentment. There are inequalities everywhere. Rather than trying to take money away from baby-boomers, who did so much to improve our country, let's work together as a society. It is the turn of younger generations now to carry us forward and build an even better future. Will they rise to the challenge?

‘Why should we have to downsize?': How boomers became the victim generation
‘Why should we have to downsize?': How boomers became the victim generation

Telegraph

time4 days ago

  • Telegraph

‘Why should we have to downsize?': How boomers became the victim generation

We're looking for readers in different generations to talk about change within their families, such as a grandparent and grandchild's experiences of buying their first home. To get involved, email us at money@ Baby boomers have nothing to complain about. Bumper pensions. Free university education. House prices that have gone through the roof. Some of them even got to see The Beatles. This, at least, is the idea that's caught fire over the last 20 years, a period in which the debate about inequality in Britain has been reframed as a tug-of-war between generations. Boomers – the post-war cohort born between 1946 and 1965 – are blamed for hoarding wealth after winning the economic lottery. The losers are said to be Generation Z and millennials – born between 1980 and 2009 – who face sky-high mortgages and record-breaking rents, stagnating wages, massive student debt and outrageous student loan repayments, plus an unstable jobs market. There is a stigma attached to being a 'boomer', which has become shorthand for greedy, entitled and out of touch. Boomers have been accused of 'stealing their children's futures' by taking more than their fair share. Many believe they are unfairly victimised – pilloried for their wealth, and told to downsize out of their house to make way for younger families. But are they right to feel that way? 'Divisive and harmful tensions in society' A report by the House of Commons' Women and Equalities Committee in February confirmed what many older citizens have experienced first-hand. It found 'clear evidence' of ageist stereotyping across British media, with debates about intergenerational fairness tending to pit younger and older generations against each other in a 'perceived fight for limited resources'. The report went on: 'Older people are also frequently stereotyped as wealthy 'boomers' living comfortable lives in homes they own while younger generations struggle on low incomes, unable to afford to enter the housing market and struggling with high rents.' These 'narratives', the committee said, have fuelled 'divisive and harmful tensions in society'. This resentment doesn't come from nowhere. Recent figures released by the Office for National Statistics (ONS) showed that boomers are by far Britain's richest cohort. The average wealth of households aged 65 to 74 is £502,500 – more than 30 times that of Gen Zs aged 16 to 24, who typically have £15,200. Boomers' wealth is also 4.6 times greater than those aged 25 to 34, who are mainly younger millennials, with £109,800. This may not seem very surprising given older people have had a lifetime to accumulate savings, homes and pensions. 'There's an extremely strong life-cycle component to wealth,' says Simon Pittaway, a senior economist at The Resolution Foundation think tank. 'Most people start working lives with very little, build it up through peak working years then run it down in retirement. 'This has been the case for a long time. But we're seeing that profile getting starker.' The gap between the generations has grown since the financial crisis, which is often blamed on the boomers, who, the argument goes, were steering the ship at the time. A Resolution Foundation study found that between 2006-08 and 2018-20, median wealth among Britons in their 60s rose by 55pc in real terms, but median wealth for those in their 30s fell by 34pc. At the same time, the share of Britain's wealth held by the under-40s has fallen from 7.5pc in 2010 to 4pc today. It's statistics like these that mean boomers are often implored to give away their hoarded wealth, or downsize into smaller properties to make room for young families. 'Older people aren't hoarding – they're just afraid of change' John Griffiths, 80, insists his generation is in fact supremely generous – and shouldn't be discriminated against for having done well. 'It's a gimmick in the financial media to blame the boomers,' he says. 'It's not our fault property went up the way it did in the 60s and 70s. [The house price rises] drove most of us out of London.' Griffiths was born shortly after VE Day in May 1945, putting him right on the cusp of the boomer bracket. 'I tend to count myself as one of them,' he says. After training as a chemical engineer, he spent 20 years in the gas industry and the North Sea designing and building offshore oil facilities. He went on to found his own marine energy consultancy, advising clean energy firms and governments on how to best harness the power of waves and tides. He retired five years ago at the age of 75. His successful career has allowed him to pass on lump sums totalling £500,000 to his three children, who are in their 40s and 50s and have children themselves. A large part of his financial security derives from property wealth. The house in Wimbledon that he bought with his wife Valerie in 2006 for £545,000 is now worth £1.3m. Homeowners aged 60 and over hold more than half of the nation's owner-occupied housing wealth, totalling an estimated £2.89 trillion, according to estate agents Savills. Two thirds (67pc) of homeowners aged 65 and over have two or more spare rooms in their property, even as a shortage of affordable housing prevents young families from buying their first home. The Tony Blair Institute think tank has called for larger properties to be taxed more to encourage owners to downsize. But Griffiths believes pressuring older people to vacate their homes is unfair. 'It doesn't sit well with me. I don't think older people are hoarding. They stay where they are because they're afraid of change. 'Many don't have supportive families to help them, and are stuck where they are.' The rise of boomer bashing Dr Jennie Bristow, a reader in sociology at Canterbury Christ Church University, traces boomer bashing back to the collapse of traditional political frameworks at the end of the 20th century. 'From the 1990s, we started trying to explain societal problems that went beyond Left and Right,' she says. 'It's still playing out now in the culture wars.' It was a time when demographic anxieties were spreading across the Western world. Ageing populations mean relatively fewer younger workers supporting the swelling ranks of elderly pensioners through the welfare system. Old-versus-young became the salient faultline. 'The narrative that emerged was that the 2008 financial crisis was due to policy decisions, and also cultural individualism, that was personified by the baby boomer generation. These are the people who are hoarding wealth and will benefit from big pensions. 'For the Right, it's an argument for restructuring the welfare state. And for the Left, it's used as a reason for more welfare and less Thatcherite individualism. It brought those two opposites together.' Bristow believes anti-boomer sentiment peaked in 2010, the year that David Willetts, a former Tory MP turned public intellectual, published an influential book called 'The Pinch: How the Baby Boomers Stole Their Children's Future'. She says the tendency to blame the boomers has turned into a 'frenzy' that ignores inequalities within generational cohorts. 'The boomers associated with the 1960s generation, born straight after the war, did reap a lot of the benefits of that time. There were a lot of possibilities, economic opportunities, and they ended up with good pensions. But not everyone was part of this. It was actually quite a narrow section of society. 'Younger boomers came of age in the far more pessimistic 1970s. Yes, people got grants for university, but only 7pc of the cohort went.' 'I get sick of boomers blaming young people' Richard Merry was born in 1955, putting him right in the middle of the boomer generation. After leaving school at 16, Merry joined the armed forces, eventually becoming a member of a special army unit that sent him all over the world during a 50-year career. He has worked hard to retire three years ago in relative comfort, but acknowledges that younger generations have a tougher ride in many ways. 'People just don't earn that sort of money any more,' the 69-year-old says. 'I get a little bit sick with the boomers saying that it's young people's own fault for not getting on the property ladder.' Merry bought a three-bedroom semi-detached house in south-east London for £77,000 in 1990. It is now worth over £1m. It was easily affordable on his salary of around £32,000, equivalent to £80,000 today. 'My children, both in their 30s, work incredibly hard and lead tough lives. You simply can't compare property prices and deposits now to what they were.' But it's not all plain sailing for his generation. Care costs, for instance, are 'crucifying' the boomers, he says. His own mother's old age care cost £320,000 over three years – money that would have gone to Merry and his sister. They had to sell their mother's home to pay for it. 'All the talk is that boomers are hoarding wealth, but we're going to be skinned alive when it comes to care costs.' On tax and earnings too, it hasn't been the easiest of rides. 'People at the bottom benefitted from increases in the minimum wage, but middle earners like me have had the stuffing kicked out of them.' Boomers have 'rigged the game in their favour' On the contrary, Angus Hanton, of the Intergenerational Foundation think tank, believes boomers have 'heavily rigged the game in their favour' over decades by repeatedly voting in governments that have given them a good deal. 'Boomers have fought tooth and nail to protect their interests,' he says. 'We can see that most starkly in how the tax system is structured – what's taxed heavily is earned income. Younger working people pay income tax at a high rate from a low level of earnings, plus National Insurance and student loan repayments, which is basically a tax. 'But unearned income is taxed very lightly – money in Isas and Sipps, and capital gains tax is half the rate of income tax.' Hanton, a boomer himself, rejects the idea that the focus on competing age groups squeezes out other factors from the conversation – like class, race or gender. 'Generational inequality is a really important lens and we shouldn't refuse to look through it just because there are other lenses available.' Evidence suggests that many younger people are looking at the world – and their claim on the material wealth of their elders – through this lens. Research by Moneyfarm, an investment platform, found that two in five millennials fear their parents were frittering away 'their' inheritance, while a fifth said their 'spendthrift' parents were selfish for failing to consider their children or grandchildren's economic wellbeing. Meanwhile, 61pc of Gen Z feel they have to work harder than their parents did, according to YouGov polling. The reality is that many young people will benefit indirectly from the economic success of their parents and grandparents. A much-cited report from estate agents Knight Frank found that millennials are set to become the 'richest generation in history', thanks to the steep rise in the value of property assets accumulated by the generations before them which will be passed on when they die. Yet Bristow points out that even if millennials as a group are in line for a huge windfall, the only ones who will actually benefit are those with well-off parents who rode the property wave. Boomers, too, all tend to be tarred with the same brush. 'You can look at it two ways, generationally,' she says. 'Not all older people are wealthy. So saying boomers have stolen their children's future doesn't stack up.'

Gen Z say they're 'judged' over how they spend their money - and family are the harshest critics
Gen Z say they're 'judged' over how they spend their money - and family are the harshest critics

Daily Mail​

time6 days ago

  • Daily Mail​

Gen Z say they're 'judged' over how they spend their money - and family are the harshest critics

Almost two thirds of Generation Z said they feel they are judged over how they manage their money, new data shows. Some 63 per cent of 18 to 28 year olds felt the way they spent money was viewed critically, with the majority (39 per cent) of those saying this came from their family members. Another 31 per cent felt judged by their friends, and 17 per cent by people on social media, according to data from Young Enterprise and HSBC. In comparison, just 33 per cent of the overall population said they felt judged over how they spent their money. It is often touted that younger generations splurge their money on avocado toast, flat whites and music festivals. Some do, of course, but many others are doing their best to build their savings and achieve financial security. While just over 40 per cent of Gen Z are actively saving money, only 42 per cent said they feel financially secure, compared with 54 per cent of the general population. As many as a quarter, 25 per cent, of the generation don't think their income is sufficient to meet their daily living expenses, notably higher than 17 per cent for the population as a whole. According to HSBC's data, this comes down to an absence of financial education. Around half of the overall population think a lack of financial education in schools is the reason so many struggle to build positive financial habits. Sarah Porretta, chief executive of Young Enterprise, said: 'The myth that young people are careless with money just doesn't hold up. Gen Z want to be financially capable, but they don't feel supported. 'From chats at the dinner table to scrolling on social media, we need to give young people better tools, better guidance, and a better emotional foundation for managing money.' Just 13 per cent of young people would turn to their school or college to learn how to manage their money, with even social media influencers a more obvious port of call for 22 per cent of the generation. In fact, a fifth said they weren't taught how to manage their money at school, with almost two thirds using their family as their main source of financial advice instead. Natalie Gregoire-Skeete, head of societal purpose and sustainability at HSBC UK, said: 'This research highlights just how important it is that we work together as a society – across public and private sectors and with charities, educators, young people and their parents – to break down the stigma around money and ensure every young person has access to clear, relatable, and judgement-free financial education.' Gregoire-Skeete added: 'Financial habits are formed at an early age, so to be truly effective, financial education needs to start in primary school, and continue on through the various stages of life. 'You are never too young – or too old – to learn new skills and make the most of your money now and in the future.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store