By 2019, Generation X – born from 1965 to 1978 – will have spent two decades seeking a nod from the Boomers holding senior decision-making jobs. But a little over nine years from now, that will end.
Janet Reid, managing partner at Global Lead, a consulting firm that advises companies like PepsiCo and Proctor & Gamble, says, “in 2019, Gen X will finally be in charge.”
What happens to Boomers when Gen X runs the show? Boomers can expect to be wooed, begged, borrowed or job-jacked by those X’ers. For one thing, Generation Y – the tattooed, techno-raised bunch born from 1979 to 2000 – will redefine success. In case you haven’t heard, their ladder for success has been replaced by a revolving door.
According to Bruce Tulgan, head of the consulting firm Rainmaker Thinking, based in New Haven, Conneticut, and author of a book about managing Gen Y ( Not Everyone Gets a Trophy), their success will be defined not by rank or how long you’ve been at the company but what matters to you personally. For some that might mean working hard sometimes then taking a winter off to count pack-ice seals in Antactica – with the kids. All to say, the in-charge X’ers may have a hard time nailing this group to the workplace.
Other changes? Let’s just say that nine years from now, the workplace will be altered almost beyond recognition. Career Sabbatical Programs will have blossomed, women will rule, corner offices disappear (as well as pensions), telecommuting is in high gear and Facebook will ____(what? Disappear after a 20-year run? You fill in the blank).
Increasingly, Boomers have a better handle on how they want to live and work. Take it all into account and here’s a sneak peak at their world-in-the-making.
By 2019, here’s what you can expect to see:
- 40% of the U.S. Workforce is predicted to be independent contractors, up by 26%. People in their 60s and 70s – because of need or desire – will be largely present in the independent contractor group. Great news since companies will need their expertise.
- Expect to see two Boomers sharing a job, especially at the very senior levels. Think Co-CFO positions. This is where Boomer talent and lifestyle cross company need.
- Boomers will freelance –work hard for a period of time with one employer then move to another, or to a period of leisure, learning or another pursuit. Then repeat the cycle. Moving back and forth between working full time and not working is the preference of 49% of the workers. (Called Cyclic Time.)
- Working part time will still be a popular option for Boomers. 39% prefer that arrangement and if the grand kids live around the corner and a person has already seen the entire world – it’s a to-die-for arrangement. (Literally, in my mind.)
Though unemployment is at a 25-year high, work will eventually return. And the workplace of the future promises to be far less secure but offer a frazzle, dazzle new look for every generation.
Boomer or not, what might all this mean for you?
4 Responses (add yours)
The statistic that 40% of the workforce will be independent contractors by 2019 is amazing! I see that we are definitely headed that way, but that is a more rapid change than I expected.
With so much talent leaving the full-time workforce, it seems that the concept of part time executive services and part-time CFO services will be industries that see increased growth, as well.
Thanks for putting together this insightful summary. No matter your political persuasion, the demographics alone speak volumes for the need for affordable healthcare policy options for the self-employed.
My boomer parents have recently retired and are working as freelance contractors when they want too. They are finding it to be a great option to traditional retirement. Thanks for enabling me to see their work from a broader perspective!
Ken,
You are so right to point out that services and industries will be part of the landscape as workplace changes emerge. The business ideas spawned by the workplace changes created by women (moms for hire, transition/network support for re-entry)produced entrepreneurial dreams for many. with the coming changes, it will be interesting times for everyone. Thanks for your comment. Barbara
Chandlee,
As more and more Boomers opt out of “traditional retirement,” they will be looking at people like your parents for how-to and inspiration. Interesting to me that both your mother and father shunned the traditional way and opted for a new approach. Thanks for adding a personal dimension to the post. Barbara