I recently wrote here about multigenerational marketing and mentioned that marketers often view generations as homogenous target groups that share common social, political, economic, and historical perspectives shaped by the fact that they traveled through life alongside each other.
In the post I mentioned the Y Generation, which refers to people born sometime between 1977 and 1995. Well, it seems that Generation Y is being redefined and is also getting a new, more appropriate name: Generation C. Rating and research company Nielsen, in its State of the Media report, refers to Americans aged 18–34 as the Connected Generation. Explaining that this is the more suitable name for a generation of people who are “taking their personal connection—with each other and content—to new levels, new devices and new experiences like no other age group.”
Consulting firm Booz & Company analyzed how the rise of Generation C will reshape the world by 2020. In a dedicated report, the authors analyze the current situations in different parts of the world and attempt to predict how they will change by 2020 with the help of Generation C members. While the report refers to many social, political, and economic issues, I would like to focus on Generation C’s impact on the business environment.
Social Virtualization: 24/7 connectivity, social media, and empowered attitudes of personal freedom and control will lead to the disintegration of corporate life in its current shape. The hierarchical structure of organizations today will be replaced with fluid, flexible, and virtual work groups.
Consumerization of Corporate IT: “Bring your own device” will become the dominant policy regarding IT equipment. Organizations will be able to save significant amounts of money by minimizing their IT expenses.
Talent Injection: Through the formation of virtual communities, non-Western knowledge workers will be able to join organizations in developed countries. These workers will fertilize the Western business environment with innovative ideas and business behaviors typical of their countries of origin.
Face-Time Bonus: Business travel will become a luxury reserved only for executives, as the need to meet face-to-face will become almost non-existent. Instead, sophisticated technologies and tools will make it easy for colleagues to cooperate and communicate remotely.
While the name, or shall I say letter, of C Generation might change a few more times in the future, the impact of its members on the business world will remain stable and significant.