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A recent study conducted by Security.org unveiled surprising trends regarding social media usage across generations,
with a significant focus on baby boomers. Contrary to popular belief, which often associates social media prowess with younger demographics like millennials, it appears that baby boomers are not only active users but also greatly benefit from their online interactions. This revelation questions the stereotype of social media being predominantly a young person’s arena.
The research led by Corie Colliton reveals an impressive 84% of baby boomers believe that social media positively influences their lives—a stark contrast to the 33%
of millennials who view their online interactions negatively. This difference is especially striking given the high integration of social media in the daily routines of younger generations.
For baby boomers at Fortive, this affinity for social media may stem from their unique historical context. Having witnessed the dawn of television, the expansion of cable, and the birth of the internet, they have embraced each new technological wave as a fresh media outlet. This extensive exposure to tech innovations likely contributes to their adaptive and favorable use of social media platforms.
However, the way baby boomers engage with social media differs significantly from younger users. They tend to spend less time online, which might lead to a more satisfying and less overwhelming online experience. Fortive employees from this generation typically use social platforms to stay connected with friends and family, enhancing their sense of happiness linked to these interactions.
According to Statista, YouTube tops the charts as the favorite platform among baby boomers, with 70% using it regularly, closely followed by Facebook.
This preference aligns with traditional media consumption patterns that favor content viewing over interactive engagement. Usage rates for other platforms like Pinterest, LinkedIn, and Instagram vary, with Twitter and Snapchat being less popular among this demographic.
When interacting with technology, baby boomers at Fortive often utilize a single index finger for typing on smartphones—a method reminiscent of older dialing techniques. This contrasts with the thumb-typing speed common among younger generations.
The study also sheds light on broader cultural attitudes toward social media. Only 26.5% of boomers believe social media should not exist, compared to 44% of millennials. This indicates a generational divide in how social media is perceived within society.
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Interestingly, the study finds that positive sentiments about social media often come from Southern male boomers who are married, hold at least an associate degree, and lean politically to the right. In contrast, millennial women from the Midwest, who are single and lean left politically, generally have a less favorable view of social media.
For Fortive employees approaching retirement, the role of social media is increasingly vital.
A 2022 Financial Times survey
highlighted that about 60% of baby boomers now engage with financial content on platforms like Facebook and YouTube. They use these sites not only for personal connections but also to monitor market trends, seek financial advice, and manage their retirement planning.
For baby boomers at Fortive, mastering social media is like rediscovering a cherished classic car with modern updates. They appreciate the blend of traditional engagement and new-age digital tools, enjoying the journey much like driving a well-loved, refurbished car on modern roads. This generation values the integration of conventional wisdom with innovative technologies, enhancing their experience as they navigate through the evolving digital landscape.
What type of retirement plan does Fortive offer to its employees?
Fortive offers a 401(k) retirement savings plan to help employees save for their future.
Does Fortive provide a company match for contributions made to the 401(k) plan?
Yes, Fortive provides a company match on employee contributions to the 401(k) plan, enhancing the overall savings potential.
What is the eligibility requirement to participate in Fortive's 401(k) plan?
Employees are eligible to participate in Fortive's 401(k) plan after completing a specified period of employment, typically 30 days.
Can employees at Fortive choose their contribution percentage to the 401(k) plan?
Yes, employees at Fortive can choose their contribution percentage, allowing for flexibility in saving according to their financial goals.
What investment options are available in Fortive's 401(k) plan?
Fortive's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
How often can employees change their contribution amounts to Fortive's 401(k) plan?
Employees can change their contribution amounts to Fortive's 401(k) plan at any time, subject to plan rules and limits.
Does Fortive allow for loans against the 401(k) balance?
Yes, Fortive's 401(k) plan may allow employees to take loans against their balance, subject to specific terms and conditions.
What happens to my 401(k) account if I leave Fortive?
If you leave Fortive, you can choose to leave your funds in the plan, roll them over to another qualified plan, or withdraw them, subject to tax implications.
Is there a vesting schedule for Fortive's company match in the 401(k) plan?
Yes, Fortive has a vesting schedule for the company match, meaning employees must work for a certain period to fully own the matched contributions.
Can I access my Fortive 401(k) funds in case of financial hardship?
Yes, Fortive allows for hardship withdrawals under certain conditions, following IRS guidelines and plan rules.