A future-of-work expert said Gen Zers didn’t have the “promise of stability” at work, so they’re putting their personal lives and well-being first.
I just saw Docs, nurses and staff who had pensions for 30+ years just get butchered as the new Hospital system took over. Routed it all to standard 401ks. Why put your soul into a company. They will never come through. That ship has sailed.
My only hope is people look around at the fact that one of the few ways to still get a pension is through union work, and the current unionization wave continues into something bigger, better, and greater than we’ve had in the past.
That’s one of the risks of not being unionized. My employer can’t touch my pension (not that they would want to since they all came up from the union rank and file too) because it’s all managed through our union contract and there’s no chance in hell that we ever approve a contract that gives them that kind of control.
Even that isn’t complete protection. The government can always change the rules as they go. Not to mention a complete breakdown of society wouldn’t exactly do wonders for pensions and 401k’s either.
It’s a good thing that Biden’s NLRB is the most pro-union in living memory then, isn’t it?
Edit; also, contracts are binding. If and when we enter a world in which union contracts are tossed out by authoritarian fiat, we’re in much bigger trouble than simple anti-uion policies.
It reeks of those headlines saying that millenials/gen zs are “losing interest in buying cars and houses”.
Motherfucker, interest has nothing to do with it. We can’t afford it!
Well interest does come into it. Y’all can’t afford the interest payments on the loans you’d need. Can’t even find a decently priced used car.
Oooh, cool word play! I like it.
Also, I find it funny* that we somehow can afford rent but are not qualified to pay a mortgage with monthly payments that costs the same.
*enraging
I think this is a huge part of the problem. Rental property owners are just a liability buffer for the banks. There should be mortgages at a 1% down payment for first time buyers with a proven track record of making rent payments on time. Maybe the rates are a little higher, with the extra interest giving the banks motivation for taking on the extra risk. Then after the first term the owner can renew with a normal rate.
Doesn’t help with the demand issue, but maybe all the rentals will flood the market after nobody is being punished for not having $100k laying around because they’re busy paying someone else’s carrying costs.
Right, like the majority of my millennial friends also work to live, not live to work, it’s just that living is so damn expensive that after we’re done working enough to pay rent, there’s not many hours left in the week to live.
I’m incredibly privileged. I have no debt, no loans, and housemates to split bills with. I only do 20 hours of paid work per week, and my hourly rate is pretty damn decent for my industry (I’m a coordinator in a community centre, I make $32AUD an hour).
I enjoy my work life balance and I wouldn’t have it any other way, I have time to care for my chronic illness properly, and time for friends, and family, and to volunteer in my community for passion projects that could never in a million years pay the bills.
But being in your mid thirties and splitting rent with other people is tough, I fortunately don’t want marriage or kids, but I can’t see how I’d make it work if I did, babies can’t help me split the rent, and most housemates don’t want to live with a crying baby that isn’t theirs.
So when my friend leaves his fun job for a grind company we know sucks our your soul, but it pays 8x as much and it’s “just for 2 years until the deposit is saved for and the baby is born” then it’s completely understandable why the next 24 months of my friends life is consumed with work. Because he needs that work now, so that he can live later.
But 2 years becomes 5 years becomes 10 years because first it’s the GFC, then it’s the housing bubble, then it’s the mini recession, then it’s covid, now it’s whatever the fuck times were living in.
And at some point for millennials (and many younger Gen X’ers) living became surviving and we work to survive, we don’t even know what thriving looks like.
I’m a milennial. I live in a country where we try not to work ourselves to death. Even my employer encourages an active separation between work and personal life. I do not remember what my monthly or yearly salary is, but I am able to have a good personal life with alot of spare time and money for my hobbies.
When I talk to my friends over the pond to the west, I’m always shocked about what I hear. 40+ hour workweeks, hardly any time off from work, etc. I also have a couple of friends in Japan, and their stories are actually worse compared to across the western pond.
Me and my girlfriend rent, which is somewhat unheard of around here. After the war, the economy was based on owning your own home. I made a few stupid choices when I was in my 20s, and I’m paying for them now by renting. The prices of homes are skyrocketing, so that every time I save some money, the prices increase and I have to save more to get a loan. Tough luck, but that’s the way it is. I do not want to get a side hustle just to kill my self getting enough money to buy my home.
I’m curious about how different Gen Z is from Millennials here, because everyone in my age range that I know seems to share this sentiment with them?
Gen x here and we seen it coming as well but no options for us at the time. I don’t blame any of you. Corporate greed and the great 401k lie is bullshit. They want us to work till we’re dead. Screw them.
Can’t speak for OP, but I don’t look at the 401k as a stable retirement vehicle. It’s a vehicle to pump “dumb money” (read: casino chips) into the stock market. If the stock market downturns just before you retire, if the firm managing your 401k makes bad investments, if another 2008-style real estate collapse happens, your retirement fund suddenly has less money in it than you hoped, so you’re gonna have to work longer.
The 401k replaced the pension. It used to be that a company would pay for your retirement, now you pay for your own by being forced to pay into the stock market, and it doesn’t go nearly as far as the pensions used to. People are working well into their 60s or older, because 401k’s often don’t pay out enough to live on. It’s another way that companies have figured out to avoid having to pay their employees while pumping up the value of the stock market at the same time.
In the late 80s and early 90s, all the badly managed companies went bankrupt and convinced business friendly judges to delete pensions, too expensive, you see. This left a lot of boomers and their parents with nothing all of a sudden.
The 401k problem is that you are now responsible for managing things and all the liability that brings. Pensions were managed by professionals.
As a millennial: I think it’s the dichotomy between “I play the game even though I hate it because it genuinely feels like the only viable option to have a remotely satisfying life” and “fuck the game”.
As an older Gen Z I concur. Even those of us who aren’t completely fucked are extremely anti-corporate with little loyalty to any job. There’s a guy named Jordan Howlett who I feel sums up the average Gen Z attitude towards all the bullshit in the world really well.
Don’t get me wrong I still work hard and try to do well at my job, but the second I hit my time for the day I’m gone. Work is strictly transactional. No one expects their employer to give them money for time they didn’t work, so I ain’t about to give my employer time for money they didn’t give me. They’ll also fire my ass the second they need a stock bump, so I’ll be damned if I’m gonna stick around if I find something better.
I’m a millennial too, and I see some of this but it only seems to be some industries. I’m a programmer and my coworkers are like 90% about “the grindset”, but people I meet who are in health and wellness are 90% the other way. I also feel like cities and large metros tend to be more focused on work, and less urban areas are more focused on living.
I would say a lot of millenials are this way too, and it’s not fair to say it’s just a gem z thing, but it’s far from the majority… At least around me. There seem to at least be pockets of it, but overall I feel like it’s closer to 20%.
With gen z, I feel like the people are way more heavily skewed the other way. I’ve had gen z general contractors and such just cut the bullshit, tell it like it is, and show that they value ME more than THEIR BOSS. It seems much more universal in their generation.
But that’s just my experience. I dunno which is more universal.
Actually the biggest difference I’ve seen isn’t in effort but ability. I work with everyone from Boomers to Gen Z and by far my Gen Z coworkers have the hardest time with being given a general task and completing it without detailed instructions. Even with detailed instructions, I often have to repeat the instructions due to mistakes and check my younger colleagues’ work more closely.
I think this is, in part, because Gen Z grew up with things that just worked or that they needed to go to a third party to fix if there were issues. Boomers fixed their own cars and did a lot of DIY home repair, Gen X and Millenials both learned to navigate computers and the internet before there were any real instructional guides or helpful UIs. Shit, we used to program games on our calculators for fun. I think many in Gen Z just never had that because many of those DIY elements require proprietary tools now. A smartphone just works and is designed to be so intuitive a baby can figure it out. It’s not their fault, but it does mean that some critical thinking skills are absent because they’re used to outsourcing the solutions to those problems.
But, again, I have never perceived that they’re not hard workers. On the contrary, I’d argue my Gen Z coworkers, when they’re on their game, are way more efficient than everyone else and definitely work smarter, not harder, which I try to learn from them.
I manage teams at a university. Gen Z types tend to be very motivated but won’t easily do useless busy work just cuz you think they should. You need to motivate them. That’s the boss’ job, though.
The real problem was the previous generations who happily devoted themselves to their bosses getting richer.
That’s pretty true of every generation. If you give anyone a seemingly boring task with no explanation why it matters, they’re going to suck at it. What I’m saying is I can’t give my Gen Z coworkers an open ended task without detailed instructions, even when I explain why it’s important.
I want to put the effort I give earning money to be put towards bettering my life. All my lemons are being juiced for someone else’s lemonade.
I agree. And I got extreme with it. because when it comes to making sure all the money we earn goes to ourselves and to our own betterment, the biggest obstacle in the way is the egregious cost of housing. In order to get on top of that hurdle, we either have to become part of the real estate industry, or entirely opt out of it. Well I entirely opted out of it.
VanLife. Yup I’ve been doing van life for the last 3 years. Complete with Solar panels, plumbing, climate control, bedroom, kitchen, storage space. I am in my van right now in one of my membership gym’s parking lot. Every dime I earn goes to me and to whatever I choose, NOT to the extortionate housing industry.
I’ve lost all trust in employers. From large corporations to non-profits to mom and pop to tech startups- I’ve been in it all and I learned businesses do 2 things to their employees:
- They lie to you
- They underpay you
I’m now freelance musician and teacher and I’m on track to make more than any employer paid me. I’m still in debt after having the rug pulled from under me from my last job, but I’m digging my way out on my own. I will never let one person be in control of my income ever again.
Yeah no…So every communist either: !) Figures out how to not be a worker and then abandons the thought 2)Actually manages to be in the revolutionary council but may get assassinated later on 3)Never had any motivation at all, writes articles like this.
Bro, stop saying “communist” you are just embarrassing yourself.
Can I put forward a motion that we start treating this cringe McCarthist shit like the edgelord fodder it properly is and make those who use Communist scarecrows the laughingstock they deserve to be ? Like these idiots can’t grasp Market Socialism to save their life and are still high on gas lighting from the 1980’s.
I’m not American or a fan of market socialism, because I understand it perfectly well, not because of a lack of understanding. Socialism always leads to greater restrictions on the person, and you can’t deny that, your cronies literally advocate for it. Take socialized medicine, politicians immediately start passing laws and regulations to restrict your choices in order to keep costs down, and present it as ethical because “we’re all in this together”. Next thing you know, a workers compensation board has reached the level of petty that a carpenter can be fined for wearing a sleeveless shirt in July, a rule passed because of the risk of sunburn to the shoulder. I am not making this up, I was the carpenter.
America isn’t a country, it’s just a business. That business minded model for society has drained all decency out of it. The US is a kleptocratic, psychopathic, oligarchy that has rotted out the brains of formerly decent people who have become the monsters we all see in stories like these. It will take multiple generations to fix this, if that is even possible.
Your brainwashed mesmerized grandparents and their lazy non-voting baby boomer children let Reagan through the door in no uncertain terms, and in that environment the 80s “hostile corporate takeover” and junk bonds fever set in; with bottomless greed as the virus, which like herpes, seems to stick around forever.
EDIT: a word
Lazy voters stayed home and let Trump in. (With a strong assist from the Democratic party.). That’s not what happened with Reagan. Reagan had incredibly broad popular support. I don’t know if that’s more or less damning of American voters, but no amount of additional turnout would have saved Carter.
It’s both.
Most CEOs match all the criteria for psychopathy or sociopathy
You’re just wrong. Psychopath is just a less skilled version of the same damn thing. They don’t make it CEO’s except that rare instance of inheriting the wealth. Then, sure, we get a great example of it like Elon. But then they’re just that.