Thursday, February 21, 2008

And Then "Boom" They All Retired

Baby boomer's take up a lot of the upper levels of companies not only filling in as managers and executives but also taking up a large area of the business analyst and technical expert roles and other "brain drain" prone portions of the business as well. Coming up behind them are what social experts say are the disillusioned and selfish x and y generations. It seems that the "up and coming" generations show little loyalty to business because they grew up as latch key children being neglected by parents who worked very hard then were later laid off and were likely to get divorced. The new generations show more family loyalty and are willing to relocate and switch jobs not just for more pay, but also for the opportunity for more leisure time.

This is all disconcerting to baby boomer managers who do not understand the generation of children that they helped raise. Baby Boomers are typically the ones that have lost jobs, been loyal to their jobs more than themselves and their families. It is this hard working sacrificing group that is about to reach their holy grail in life which is retirement. It will be the leisure seeking younger people who will have to fill in the gaps of middle and upper management. The question is, how will this transform business in America at a time when loyalty is needed and strong business knowledge is necessary? The result could be businesses that focus more on their people at the expense of competitiveness and cost cutting.

Regardless of what happens during and after the big exodus of the retiring boomer's we know that government social programs will be hit hard and businesses will lose a large amount of the knowledge holders and the torch will be passed on to those who will not seem as worthy. It is a great time to be an X and Y generation occupant who is looking for upward career movement. There will be plenty of spots to take...though the gaps you leave behind yourself will be sorely missed.

This should make job-hopping more common and will theoretically raise the competitive wages of highly sought after jobs.

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