Page 2
— Office Properties Quarterly — June 2016
CONTENTS
Letter from the Editor
W
ithin this issue, you’ll
find several articles about
catering to the newest
generation of workers.
Specifically, I wanted to
share some findings from an April
U.S. Bureau of Labor Statistics report
that shed light on some of the
notions about those born into the
millennial generation.
The term millennial often is used
in conversations
about Denver to
describe the influx
of young, college-
educated, urban
professionals. The
study, from the
National Longi-
tudinal Survey of
Youth 1997, sur-
veyed 9,000 men
and women born between 1980 and
1984, 16 times between 1997 and
2014. The study focused on edu-
cational attainment, employment
experiences and partner status.
It is common to hear the com-
plaint that this generation lacks
job loyalty. In this issue, you’ll read
about ways to retain your best
young employees on Page 28. It is
worth the read because the study
found that this stereotype holds
true. In the 10-year span, these indi-
viduals held an average of 7.2 jobs.
The study notes that employees
held more jobs when they were
younger than older. When I think
about personal experience, this
makes sense. I had a different job
almost every summer and most
school years while in college. Once
I graduated and entered my career,
my job hopping diminished.
The level of education also
impacts loyalty. “Almost 50 percent
of jobs held by high school dropouts
from ages 18 to 28 were held for less
than six months,” the report found.
“For those with a bachelor’s degree
and higher, 34 percent of jobs were
held for less than six months.”
Education is a common expecta-
tion when discussing Colorado’s
millennials. But while 72 percent
of women and 63 percent of men
attended college, by age 29, only 47
percent of women and 41 percent of
men had received bachelor degrees.
When examining educational
attainment among racial and eth-
nic groups, whites were more than
twice as likely as blacks and His-
panics to receive a bachelor’s degree
by age 29.
The final component the study
was partner status. While the gen-
eration is waiting longer to get
married than previous genera-
tions, which could impact job/loca-
tion loyalty, by age 29, 60 percent
were either married (40 percent) or
cohabitating (20 percent).
These observations into the labor
market are important because ideal
tenants have a loyal employee base.
With this generation representing a
larger percent of the workforce each
year, it’s important to understand
which generalizations hold true
when considering your office prop-
erty’s future health.
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