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Changing Demographics Mean New Challenges in Technology Management

Posted by Henry Cheang | November 21, 2014 7:00 AM

How do we categorize generations?

There are many ways to organize information about the population. One way is by birth year. Using this method, Statistics Canada divides citizens into 7 (current) groups:

Generation

Date

Description

1

1918 and before

≤1918

A mix of the Lost Generation (people old enough to have fought in World War 1) and the Greatest Generation (people old enough to have fought in World War 2 and who grew up in the grip of the Great Depression).

 

2

Parents of Baby Boomers

1919-1940

Mainly composed of the Silent Generation – people born during the Great Depression and World War 2.

 

3

World War 2 Generation

1941-1945

Also from the Silent Generation, but specifically those born during World War 2.

 

4

Baby Boomers

1946-1965

Born after the end of World War 2. This is a huge group. They’re known for rejecting what were then traditional values and were able to make many changes to a wide array of institutions.

5

Baby Busters

1966-1971

After the high birth rates of Baby Boomers, a sharp decline in birth rates produced the Busters.

 

6

Children of Baby Boomers

1972-1992

A mix of Generation X and Generation Y (or Millennials). Generation X is known for their high levels of education, family orientation, and hardworking mantra. Generation Y is recognised for their affinity for technology and being the first cohort to adopt the internet on a large scale.

 

7

Generation Z

1993+

People who grew up with massive political, financial, and technological changes on a global scale. Due to this, this group has the greatest focus on social justice.

 

How much of each group is in the populace?

Statistics taken in 2011 show that pre-Baby Boomers are dwindling. They only make up a combined total of 13.8% of the population. That’s in wide contrast to those who came after. Baby Boomers are still the largest segment of the populace (28.6%), while their children (Generations X and Y combined) only just trail behind (27.3%). A sizable number of Canadians also belong to Generation Z (21.9%). If we do the math, the children of Boomers and Gen Z make up almost half (49.2%) of all Canadians.

Generations

 

 

 

 

 

 

 

 

 

 

 

 

 

If we look at this 49.2% another way, we can say that most of them fall between the ages of 0-39 and either grew up or were born into the age of the internet and widespread connectivity.

What kind of trends do we see in younger Canadians?

Because of their experiences, younger Canadians use ever more technology in their daily lives. The older members in this group have taken or are taking over positions of power. They’re driving the world towards a more global market, and at a breakneck pace. Meanwhile, the younger ones are either in the work force or just entering (as they come of age).

All of this is happening because Baby Boomers are starting to retire in great numbers. They’re being replaced by their children (and even grandchildren), all of which is leading to faster changes in the archetypal office environment. There are new attitudes and ways of thinking as the old guard moves on.

These wouldn’t be the only changes, however. Note that each generation in the chart above is smaller than the last. That means that there aren’t enough people to replace all the retiring Boomers. There’s going to be a greater need for automation to help offset by the shrinking workforce.

On the one hand, the younger generation is open to the quick adoption of technology. In fact, they’re likely to attempt adoption bring-your-own-device (BYOD) even if it’s against the wishes of their bosses. Many show a distinct preference for using their own phones, tablets, and computers for their daily work routine. Certainly, this helps plug some of the resource needs created by a contracted staff pool.

On the other hand, the embrace of technology by younger workers – especially personal items not sanctioned by employers – also presents huge security risks. This brings about a rise in IT spends for the companies in which they work.

What does this all mean?

The trends are plain for all to see. More software and technology will be adopted and integrated into all modern workplaces in the coming years. This is the reality facing CIOs. They must be aware of all the issues this will bring and make plans to minimize the IT debt that will come from adapting to new technology trends that make up new workflows. Actually, the smarter thing to do would be to stay as far ahead of all this as possible.

CIOs must adopt a strategy that uses advanced software to both automate and simplify their jobs. One promising method would be to use a better framework to manage everything. That’s exactly what we have created, at Cimpl. Christopher Thierry, our founder, built Enterprise Asset Management 2.0 (EAM 2.0). It’s a new framework that neatly categorizes all IT assets using a single, simple structure. Because everything is managed in an easy to understand space, CIOs can work much smarter than before!

EAM 2.0 will help companies keep better track of all their assets and put money back into their balance sheets. It helps stretch IT budgets. Our software, Cimpl, has been developed to help you manage all the IT and Telecom assets in your workplace. If you know that stretching the IT budget and easily managing all your technology, then you should contact us! As Canada’s leader in IT and telecom expense management we have been helping give companies greater visibility over all their IT and telecom assets for nearly 15 years. We can help you get the most out of your IT spend!

Bank Case study on Expense Management

 

Related Articles: 

Topics: Security, Enterprise Asset Management 2.0, IT Budget, Technology Expense Management, Statistics

Written by Henry Cheang

Henry has a lifelong passion for science and technology. This enthusiasm is put to good use in a cutting-edge software company like Cimpl. As product marketer, Henry researches market and user needs to develop user and buyer personas, contributes to product design, and helps coordinate product messaging. Henry also writes nearly the entirety of all documentation for Cimpl’s many successful platforms. In his spare time, Henry devotes much energy to family, friends, and martial arts. Henry recently completed his Master’s in Business and Administration from Concordia University, where he specialized in the study of marketing, organizational behavior, and corporate governance. He has authored academic papers on the latter two subjects; these papers form part of his bibliography of over 20 professional research publications.

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