Boomers Blocking Xers
Posted On September 19, 2011
Just when Generation X is reaching its peak career and earning years, they are finding that the Baby Boomers won’t get out of their way. Many Boomers are delaying retirement due to the recession or simply because they prefer to work. In fact, the participation rate in the labor force among those over 55 is as high as it’s ever been. Xers, contrary to their reputation as slackers, are highly educated, career-oriented, and ambitious, but their path to the top is not clear.
In a recent survey, 40% of them say they are not satisfied with their career progress and half say they are stalled. Part of their frustration is also that they are working harder – nearly a third say they are working more hours than pre-recession. Consequently, one in three surveyed would like to change jobs, more evidence that employers have yet to earn Xers’ loyalty.
Retaining Xers should be a priority for employers. Among their other attributes, they are tech-savvy and flexible. And with 20 or more years in the workforce, they have an abundance of experience and expertise to offer. “These are the next generation of leaders, and if we’re not taking care of their needs and wants, how are we going to retain them?” says Michelle Gadsden-Williams, Credit. “There is definitely a war for talent out there.”