Employee Incentive ESOPs: An Equity Tool to Promote Engagement and Performance

Employee stock ownership plans (ESOPs) are experiencing renewed interest in America. In recent years, new ESOP formation was largely driven by the aging of the Baby Boomer generation (widely defined as those born between 1946 and 1964), and their desire to liquify their ownership in closely held businesses while rewarding their employees. There are other new forces driving this trend—the quest for equitable solutions for the growing divide between have and have-nots, the need for employers to retain and reward employees in a competitive talent market, and succession planning. In this article, I will discuss how an Employee Incentive ESOP can be used to promote performance and engagement in a broad-based manner.

Effects of Relative Leisure Deprivation between Regions on Life Satisfaction in Koreans: Focusing on Baby Boomers

Regional disparities in leisure facilities deprive residents of opportunities to participate in leisure. This study aimed to provide basic data for establishing public leisure welfare policies to reduce the leisure gap among different regions and to verify the effects of relative leisure deprivation (RLD) on the life satisfaction of Koreans, with a focus on the baby boomer generation. For this purpose, 7 items of demographic characteristics related to gender, age, marital status, job status, residence area, monthly income, and educational background, 18 items of relative leisure deprivation consisting of egoistical, resourceful, cognitive, and emotional leisure deprivation, and 5 items of life satisfaction were investigated. The questionnaire consisted of a total of 30 questions and a mobile survey was conducted in October 2020, and a total of 412 copies were used for the final analysis. The results showed that there were differences in RLD and life satisfaction depending on where the participants lived; RLD (M = 3.21, M = 2.95) was higher and life satisfaction (M = 3.36, M = 3.72) was lower in rural areas, as compared with urban areas. Second, baby boomers’ RLD had a negative effect (β = −0.5391, p < 0.001) on life satisfaction. Third, the place of residence moderated (β = 0.5240, p < 0.001) the relationship between RLD and life satisfaction; a higher RLD led to a lower level of life satisfaction for baby boomers living in rural areas (95% CI: −0.7369~−0.3413), whereas the RLD of those in urban areas did not affect their life satisfaction. Therefore, central or local governments must effectively narrow the regional gap through a balanced distribution of leisure resources to remote and underdeveloped environments, thereby minimizing the RLD of citizens and seeking improvement in life satisfaction. Finally, the part that the psychological aspect of the individual study was not considered due to the limitations of quantitative research suggests the direction of subsequent research.

Age and the City

<p>Social isolation and loneliness affecting a large number of older persons and elderly is a prevalent issue in today’s society. Current older persons and the Baby Boomer generation approaching this age are far more independent than previous generations. Their perception of ‘retirement’ has a negative connotation due to society’s pressures and value placed in remaining independent and useful. The current model of aged care housing, although existing in many forms catered towards different levels of care, is generally seen as a last resort and an acceptance of being dependent on others for day-to-day things. This has led to a trend of ageing in place, in homes which are arguably too big for a single person or couple and often not equipped to adapt to bodily decline. With reducing mobility, this can restrict the residents’ ability to socially interact and engage with their communities. This research investigation analyses the role architecture plays in contributing to this issue and looks at opportunities for improvement through the design of a mixed urban housing development designed to meet the physical and social needs of older persons. Four strategic design tactics were formed during the early design investigations. They directly address the researches aims and objectives through social and spatial means. These tactics are: Tactic 1 - Urban Location, connecting residents to the city, parks and a nearby school; Tactic 2 - Social Circulation is developed to facilitate incidental and planned interactions in the circulation spaces of the developments; Tactic 3 - Mixed Housing provides a range of apartments suited to older persons, students and families; Tactic 4 - Shared Amenities provides health services, leisure activities and a cafe for residents and the wider public to enjoy. The design investigation found that making circulation a primary focus allowed for a stronger relationship between the site and building and allowed for more opportunities for interactions between residents and the public. This research argues that these tactics working together, will provide better outcomes for older persons in health and well being and should be considered as a new and better model of older persons housing.</p>

Age and the City

<p>Social isolation and loneliness affecting a large number of older persons and elderly is a prevalent issue in today’s society. Current older persons and the Baby Boomer generation approaching this age are far more independent than previous generations. Their perception of ‘retirement’ has a negative connotation due to society’s pressures and value placed in remaining independent and useful. The current model of aged care housing, although existing in many forms catered towards different levels of care, is generally seen as a last resort and an acceptance of being dependent on others for day-to-day things. This has led to a trend of ageing in place, in homes which are arguably too big for a single person or couple and often not equipped to adapt to bodily decline. With reducing mobility, this can restrict the residents’ ability to socially interact and engage with their communities. This research investigation analyses the role architecture plays in contributing to this issue and looks at opportunities for improvement through the design of a mixed urban housing development designed to meet the physical and social needs of older persons. Four strategic design tactics were formed during the early design investigations. They directly address the researches aims and objectives through social and spatial means. These tactics are: Tactic 1 - Urban Location, connecting residents to the city, parks and a nearby school; Tactic 2 - Social Circulation is developed to facilitate incidental and planned interactions in the circulation spaces of the developments; Tactic 3 - Mixed Housing provides a range of apartments suited to older persons, students and families; Tactic 4 - Shared Amenities provides health services, leisure activities and a cafe for residents and the wider public to enjoy. The design investigation found that making circulation a primary focus allowed for a stronger relationship between the site and building and allowed for more opportunities for interactions between residents and the public. This research argues that these tactics working together, will provide better outcomes for older persons in health and well being and should be considered as a new and better model of older persons housing.</p>

Self-Reported Health, Well-Being, and COVID-19 Vaccination Willingness Across the Generations

The COVID-19 pandemic has impacted the generations’ health and wellbeing across a range of dimensions. In the first survey, the 50+ adopted the smallest number of health behaviors (e.g., handwashing, mask-wearing, etc.) in response to the pandemic compared to younger age groups. In the first and second surveys, the Baby Boomer generation reported less intense worry than other generations, especially regarding their socioemotional health and family members’ health. For younger generations, worries tended to increase from March to June—especially those related to socio-emotional health and COVID-19 in general. In the third survey wave, older generations self-reported better psychological wellbeing, less personal burnout, and better cognitive health compared to younger generations. Willingness to get the COVID-19 vaccine did not vary by generation in this sample; however, implications of this (including additional factors that may be influential such as psychological wellbeing) will be discussed.

Differential Acceptance of Advance Directives Between Millennials and Baby Boomer Generations: A Cross-Sectional Survey Study Among College Students and Their Relatives

Background: This study aims to explore the differentials of knowledge and attitude of advance directives (ADs) between millennials and baby boomer generations, and the effects of the intention to sign the advance directives. Methods: This is a cross-sectional study using a self-administered questionnaire to collect data from 325 students in a health-related college of a University of Science and Technology in Taiwan, and their parents, as total of 226, who are baby boomers. The statistical methods include descriptive statistics and inferential statistics. Results: Only 10 people from the 2 generations signed an AD. The multivariate logistic regression showed that baby boomer generation, AD knowledge, and AD attitude were significant positive associate of willingness to sign AD in the future. Conclusions: The government may enhance promotion of ADs among millennials and improve the connection between millennials’ knowledge of and attitude toward ADs, and their AD signing behavior.

Support for independence: Cross-generational Housing for Elderly & Millennial Students

<p>Statistics New Zealand estimates that by 2031, one in four Canterbury residents will be aged 65+ (Canterbury City Council). Accelerated ‘baby boomer’ population growth has shifted Christchurch’s current age distribution into a period of demographic transition. The implications of this shift means a likely increase in demand for “future proof” housing as dependency ratios accelerate beyond historic records (Davey 1). The term “future proof” factors in the rise in demand for accessible housing and potential for social isolation once an individual is widowed or physically impaired. Housing suitability is equally problematic for today’s millennial cohort. Rising rental prices and limited choice have also become a problem for Christchurch’s student population. Within this group, students at Christchurch’s main polytechnic (ARA) are of greatest concern due to a severe shortage of student accommodation. The institute currently offers 192 beds, a 267 per cent increase than what was available a year ago but an overflow of demand remains (Lee A1). This research proposes the establishment of an aged care facility, which incorporates student accommodation. Following a design-led research approach, this body of work has been developed by first identifying the problems faced by the client cohorts and then actively exploring possible solutions through design. These solutions are supplemented by a process of participatory observation. This involved moving in with my Nan for a period of 6 months. I actively recorded our experiences including the challenges and benefits found within this form of living. Designing an alternative that recognises the needs and wants of the baby boomer generation, could delay the need for social welfare intervention, while providing an option for students facing the harsh reality of New Zealand’s housing market.</p>

Support for independence: Cross-generational Housing for Elderly & Millennial Students

<p>Statistics New Zealand estimates that by 2031, one in four Canterbury residents will be aged 65+ (Canterbury City Council). Accelerated ‘baby boomer’ population growth has shifted Christchurch’s current age distribution into a period of demographic transition. The implications of this shift means a likely increase in demand for “future proof” housing as dependency ratios accelerate beyond historic records (Davey 1). The term “future proof” factors in the rise in demand for accessible housing and potential for social isolation once an individual is widowed or physically impaired. Housing suitability is equally problematic for today’s millennial cohort. Rising rental prices and limited choice have also become a problem for Christchurch’s student population. Within this group, students at Christchurch’s main polytechnic (ARA) are of greatest concern due to a severe shortage of student accommodation. The institute currently offers 192 beds, a 267 per cent increase than what was available a year ago but an overflow of demand remains (Lee A1). This research proposes the establishment of an aged care facility, which incorporates student accommodation. Following a design-led research approach, this body of work has been developed by first identifying the problems faced by the client cohorts and then actively exploring possible solutions through design. These solutions are supplemented by a process of participatory observation. This involved moving in with my Nan for a period of 6 months. I actively recorded our experiences including the challenges and benefits found within this form of living. Designing an alternative that recognises the needs and wants of the baby boomer generation, could delay the need for social welfare intervention, while providing an option for students facing the harsh reality of New Zealand’s housing market.</p>

GENERATION DIFFERENCES IN BUSINESS LIFE AND GENERATION Z

For successful interaction and communication to occur in organizations, it is necessary to understand the characteristics of each generation and what motivates them to be successful and good employees. In an organization, many of the employees' values and attitudes towards work can be quite different from previous generations, and managers need to take these generational differences into account in order to effectively manage the workforce. Strauss and Howe (1991) identified eighteen generations throughout four centuries of American history, dating back to the first New World colonizers. In this study, the differences in working orientations and attitudes between generations within the scope of the Traditional Generation, Baby Boomer Generation, X Generation, Y Generation and Z Generation, which are the generations that affect / will affect today's working life, are discussed. After explaining what kind of environment these generations were born into and how they were affected by social, economic and environmental conditions, it was examined how these generations achieved unity in their working environments. It has been contributed to the recognition of Generation Z by their managers and colleagues, who have just entered or will enter the labor market, and to learn what kind of working group they are/will be faced with, and suggestions are made for the future labor markets.

Generation Y: Incentive and Reward Schemes

<p>Due to the constant changes in workforce and generational composition, employee retention and recruitment has been a major problem. Currently there are three generations working side by side in the workforce namely; the Baby Boomer Generation, Generation X and Generation Y. This research has focused on the most effective ways in which to motivate, attract and retain employees, in particular Generation Y employees. This is important as an employee’s motivation and performance has an impact on the company’s success. Different generational members have different generational characteristics as well as individual differences and failure by mangers to understand the generational and individual differences can result in misunderstandings, miscommunication, conflict and performance issues. By providing managers with the necessary knowledge to understand employees, effective incentive and reward schemes can be designed and implemented. Using Vroom’s Expectancy Theory framework, this study examines Generation Y and X employees in New Zealand accounting and commerce industries in order to understand their preferences, feelings and opinions on the matter of motivation, employee retention and attraction, as well as their perceived generational characteristics. A focus group method was used in order to gather the necessary data. The results illustrate that the characteristics of Generation Y participants did not agree with most of the existing literature on what types of incentive schemes are most effective for these employees, while also pointing out that these employees are also driven by cultural and individual differences. As this study was industry and generational specific, it allowed the gathering of in-depth information, opinions and feelings that contributes to existing literature as well as being the first of its kind due to being executed in New Zealand.</p>