Pros And Cons Of Baby Boomers

Baby Boomers are the most powerful demographic group in history. Businesses thrives or fails based on their ability to keep pace with the likes and dislikes of this economic powerhouse known as the baby boomers. At 76 million strong, boomers have the influence to rule the marketplace and make sure they keep a place set just for them as the

Most baby boomers grew up watching their traditionalist parents work very hard to make ends meet and take care of the family unit. As a result of their upbringing many boomers have adopted their parent’s strong work ethics; working hard, long hours trying to climb the corporate ladder. Baby boomers still enjoy personal face to face interactions and building rapport with people

The “pig in the python” describes the role of the baby boomers generation through time. As the baby boomers creep towards retirement age, a problem comes in being able to provide retirement services for a large population from a comparatively smaller population of workers. The baby boomers were a generation that defined America, contributing much to it’s growth but in return created plenty of problems that we will deal with for years to come.

Baby Boomers constructed America in the 1960s, and soon the Millennials will get their chance. Baby boomers are currently the largest generation of active workers. Research has shown that boomers identify their strengths as organizational memory, optimism, and their willingness to work long hours. Many earned, many still earn high incomes. The millennial generation, born between 1980 and 2000, are starting to enter businesses in large numbers. However, they do not have the same views and values when working compared to the Boomers. This Boomers grew up in organizations with large corporate hierarchies, and Millennials grew up with management structures and teamwork based job roles. By 2025, millennials will make up the 75% of the workforce replacing the Boomer generation. But, are they ready for the workforce and is the workforce ready for them? I think they would be ready if businesses are able to change and adapt towards them.

The Baby Boomers were born between 1946 and 1964, and they fall between the ages of 53-71. This generation was subject to the civil rights movements, the Vietnam War and the Cold War, and space travel. Their parents had the highest divorce rate and second marriages in history. “The American Dream” was promised to them as children and they spent their lives pursuing it. As a result some generations see them as being greedy, materialistic and ambitious. This generation believes in working long hours to establish self-worth and identity, they tend to be workaholics and are used to working up to 60 hour work weeks. Working this much caused an imbalance between most work/home life because the workers of this generation were afraid of losing their position at work if they took more time to spend with their families. The preferred work environment for a Baby Boomer is going to be democratic, believe in equal opportunity and be a warm friendly environment. Some pros of the Baby Boomer in the workplace include that they are anxious to please and tend to challenge the status quo. They are mission oriented individuals who will go the extra mile. Some cons of this generation are that they expect everyone to be workaholics like themselves and they don’t like change either after being raised by traditionalists. Some keys to working with these Baby Boomers is understanding how

Following World War II, there was a major cultural shift throughout all of America, as society adjusted from living through the Depression and the War to newfound prosperity and opportunities. The country was thriving with new medical breakthroughs and technologies, as well as new forms of media spreading different ideas throughout the country like never before. This generation, created by the Baby Boom, had the freedom to do things their parents did not, and spend their free time on activities they wanted to. Without having to worry about working to help keep their family afloat or go to war, they were able to concentrate on art, music, sports and other materialistic aspects which has been the outline for our culture since that time. This transition caused the youth to create their own organizations and essentially their own society which looked completely different from anything America had seen in the past, this also created a lot of tension between the youth and their elders.

The aging of the baby boomers is not just a demographic issue. It has important economic implications. Owen and Griffiths (2010) argue that the baby boomers can best be seen as a generational bulge that occurred between 1946 and 1964. This generational bulge is so large that it drives the economy during each state of the baby boomers lives (p. 76). This suggests that the aging of the baby boomers is a demographic issue with important economic implications.

Companies need new strategies to utilize the strengths of each employee. Once boomers do retire there will be a large void in the workforce since there is so many of them. This will create another change in business culture because younger people will be needed to fill those spots.

Their values were shaped primarily by a rise in civil rights activism Vietnam and inflation. Baby Boomers were cherished by parents that had sacrificed and fought a war for the right to bear them raise them, indulge them. Baby boomers tend to be more optimistic and open to change and are also responsible for the “Me Generation” with its pursuit for personal gratification. Baby Boomers value face time in the office and my not welcome workplace flexibility or work/life balance trends. High levels of responsibility, perks, praise and challenges will motivate this Generation. Furthermore, when understanding Boomers, there’s the issue and added complexity of older Boomers and younger Boomers also known as the First half/Second Half. First halfers are those born in the 1940s. They are more idealistic, more likely to be workaholics and more likely to have put career first, family second. The first halfers’ world view was more affected by the 1950s. The late Bloomers or second halfers tend to feel different about work. They graduated from college and went to work during the Reagan era. They got the first taste of downsizing, large scale layoffs. This makes them more cynical and less gung ho about management than early Boomers. They feel that good work habits and positive mental attitude are not always rewarded and often are not enough to save a job regardless of how well it has been

The generation of hard working Americans that innovated our way of life and catapulted us into the twenty first century is aging. This fact alone will lead to skyrocketing medical costs and a compromised lifestyle for those in the Baby Boomer generation. As a result, a large number of diseases will increase, including Alzheimer's. According to The Alzheimer’s Association, “These numbers will escalate rapidly in coming years, as the baby boom generation has begun to reach age 65 and beyond, the age range of greatest risk of Alzheimer's.” A shocking “estimated 10 million baby boomers will develop Alzheimer’s” and “by 2050, an American will develop Alzheimer’s every 33 seconds”

The end of world-war II marked the beginning of a new era in this country. The baby boom era began in 1946 and ended in 1964. During this era, 76 million babies were born according to pew research center. The number of people reaching adulthood in the next decade was tremendous. As a result, the country had to adjust to meet the demands and fulfill its obligations to the citizens. Though, the boomers were sophisticated and wanted to impose their views on the rest of the society. Eventually, the country started to experience some changes and the boomers’ influence was propagating in the society. Cheryl Russell, the Editor-in-Chief of America Demographics Magazine and the author of “100 Predications for the Baby Boom: The next 50 years.” In his

There is no secret that baby boomers are working and living longer. I believe a trend that will impact an organization’s ability to forecast is aging baby boomers. In a new study conducted by the United States Labor Department, “The retirement of aging Baby Boomers will reshape the job market over the next decade, leading to the smallest portion of Americans employed or looking for work since the mid-1970s, barely six in 10” (2013). Additionally, this will result in slower economic growth and less job opportunities for other generations to receive. By 2022, as baby boomers look to retire, the labor force participation rate is projected to fall to nearly sixty-two percent (2013). The industry that will be the most affected the most once they

Baby Boomers have been one of the most powerful forces in shaping the economic environment and are the wealthiest generation in the United States (Kotler and Armstrong, 2015). “In their early years, “Leading Edge” Boomers enjoyed economic prosperity, and their resulting financial power in their prime years drove rising trends in everything. However, the recessionary years of the early 1970’s also added cautionary realities to their youthful consumption and employment dreams” (“America’s Oldest Boomers”, n.d.). Baby boomers control approximately 70% of the disposable income in the United States, therefore, they are known as being one of the most influential financial forces in the marketplace (“Baby Boomers Report”, 2015). As they reach their

“The number of employees over the age of 55 has increased by 30 percent; however, the number of 25- to 54-year-olds has only increased by 1 percent” (Claire, 2009). In 2008 the eldest of the 77 million baby-boomers turned 62. Estimates are that by the end of the decade about 40 percent of the work force will be eligible to retire. As people begin to reach the age of retirement there may be not be enough new employees to fill the gap (Clare, 2009). Companies need to find ways to attract Boomers and Millennials. Companies that want to attract Boomers and Millennials need to be creative in their culture, HR policies and work environments.

The world’s labor force primarily consists of three major generations: the “Baby Boomers,” “Generation X,” and “Generation Y.” The “Baby Boomers” were born during and after the 2nd World War (1940 to 1960). This generation has a legacy of expertise, “old-fashioned” autocratic management, and healthy productivity. “Boomers” are known to work hard, remain loyal to their employers, and receive promotions on the basis of hard work and high skill. Technology was rather limited (Hewitt and Ukpere, 2012).