"Boomerang" At The Office

Baby Boomers are back.
After years of a youth movement in the employment market, it appears old is “in” as employers rethink their strategy of who to keep on the job and who to let go.
The numbers alone are forcing the issue and it’s the Baby Boom generation that is driving the equation. For starters, more than 40 million Baby Boomers are now past the age of 50. Every day, 8,000 Boomers turn 60.
We’re also an educated and motivated group that is not retiring at the same age our parents did. The Census Bureau estimates 70 percent of men and 58 percent of women between the ages of 55 and 64 are still working.
Part of the reason is money. The average lifespan in the United States has increased by 30 years since 1900. That’s a lot of extra post-career time. In fact, a century ago, the average retirement lasted two years. Now, it’s 20 years.
In addition, Baby Boomers are not the type to sit on the porch and rock away their golden years. A lot of us are learning retirement is overrated. Many Boomers enjoy their jobs and a lot of them get their identity from their work.
Add to this mix the divergent populations between generations.
The number of 55- to 64-year-olds in this country is expected to increase by 11 million by 2025. The number of people ages 25 to 54 will rise by only 5 million.
The math is obvious. There simply aren’t enough younger employees to fill the shoes of retiring older workers. It’s a trend the General Accounting Office says is creating a “skills gap” in the workplace.
Executives have noticed. They can see that if Baby Boomers retired in bulk the next decade, there would be gaping holes in their employee ranks.
So, how are companies enticing us to stick around a little longer? There are several popular alternatives, none of which involve paying older workers significantly more money.
Experts say Baby Boomers are looking for flexibility in their jobs. That can include part-time hours, seasonal work or telecommuting.
Boomers are also looking for something meaningful and perhaps even something different in their jobs. A new aspect to their profession or perhaps a new career altogether.
Now, this isn’t true in all industries. The hi-tech sector still feels youth is king as does the media industry.
Nonetheless, enough companies are eyeing their seasoned employees as their short-term saviors to give our generation a definite advantage in the coming years.
Yes, it appears the ball has bounced back into the Baby Boomers’ court. Company executives, it seems, need to show an interest in their older employees and treat them as if they’re valuable.
So, Baby Boomers look around. Decide what you’d like to do the next 10 to 15 years. Depending on your situation, you might just be in a position to negotiate.
For, the new power color at work might not yellow purple. It could be gray.