Generation X is at its peak in the corporate world, but many Y’s are already on their trail

Generation researchers divide individuals currently living into 6 different generations based on their date of birth. Different generations grew up under significantly different economic and social conditions and also had different experiences in adulthood. Age differences thus naturally define groups with different attitudes. Although personality differences can be significant within a group, a veteran who has survived World War II has different characteristics than a young person born into the information age.

• 1st Veteran Generation: Before 1940
• 2. Baby Boom generation: 1940-1959
• 3. Generation X: 1960-1979
• 4. Generation Y: 1980-1995
• 5. Generation Z: 1996-2007
• 6. Alpha generation: after 2008

"It is also worth examining business owners and managers from a generational point of view, because the attitude of managers fundamentally determines the organizational culture and also sheds light on the issues of generational change," says Richard Pertics, Opten's company information expert.

In terms of numbers, members of the "Generation X" currently lead the way among both owners and registrants. Currently, this is the generation that has accumulated enough experience to run a company and even has a high carrying capacity. However, their role is already declining, as is the decline of the older "Baby Boom generation." The role of these two generations is gradually being taken over by young people. "Generation Y" young people are now taking second place among members of the "Baby Boom" generation among those eligible for registration. For the time being, the members of the "Baby Boom generation" still hold the second place among the owners, but based on the trend, the "Y "s may have the second place here in 1-2 years.

"The distribution sheds light on the current role of the retired or near-retirement Baby Boom generation, and even seems to be less able to withdraw from corporate affairs than was anticipated in previous years," emphasizes Opten. expert. Obviously, among the reasons there is the fact that even this generation is active and strong, on the other hand, unfortunately, it also suggests that the owners cannot or do not dare to fully trust their younger family members.

In larger companies, the role of older generations is even more outlined. Most of the companies with a turnover exceeding HUF 100m have "X generation" owners, but the 1940-1959 generation is still closely behind. This is also natural, as ownership does not necessarily mean that the owner is actively involved in day-to-day affairs, as evidenced by the fact that there are far fewer representatives of the “Baby Boom” generation among the signatories of the same companies. Moreover, among those eligible for company registration, “Generation Y” also precedes members of “Baby Boom,” so the advance of young people here is just as strong as in the entire company base.

"On the other hand, the age distribution of the future is best projected by examining the age of the company founders," says Richard Pertics. In this respect, the "X" and "Y" generations are already going head-to-head, but the representatives of the "Z" generation have already grown to measurable levels, while the Baby Boom generation has almost completely receded. So the present is still X, but the future is more Y and Z. The exchange of generations will hopefully take place peacefully, and both family businesses and larger businesses will successfully take up the resulting barriers and possible changes in their organizational culture.

(Source: marmalade.co.hu; Opten | Image: pixabay.com)