As you look around your office do you begin to feel like a dinosaur? Are you becoming the bitter old person? When is it time to step down and let the next generation take the reigns? Advisors, counselors, placeholders are all titles that the elders receive when the new blood comes in. Is this evolution or the end of an era? If your organization is thinking about it’s future, it should be the beginning of an evolution or they are going to miss out. Let me explain.
Did you know there is a name for the older workforce “perennials”? Who knew?! It’s not the plant but this group has been described as ever-blooming, knows what’s happening in the world, stays current with technology and has friends of all ages. If you are wondering the research states this person is 55+ years of age. Well, this segment of the workforce is geared to be the largest working population by 2024. This topic reminds me of a great movie called The Intern, watch it great stuff.
Organizations are beginning to see the value in retaining institutional knowledge and have developed a new culture for the perennials. Better work stations, softer floors, ergonomic chairs, flexible work hours, better vacation packages. The list goes on and it is due to the amount of perennials that are in the workforce and the lack of workforce availability. Who knew that with all the fuss over millennials the perennials would take over. There is something to be said about wisdom and the research is proving this.
There are several reasons why this is happening. There is the obvious, increased life expectancy across the industrialized world. Or to put is frankly, people are basically living longer and want to continue to secure the bag beyond the age of 65. Females that put their careers on hold to raise a family enter the workforce later in life and reach their professional stride at about 50. This group of women have mastered a lot of life skills through running a household and conquering the world will go past the next 15 years in the workplace. Then there is the move that many organizations made in the retirement plans, moving from defined-benefit to defined-contribution. Which means the workers have to save to retire comfortably and let’s be honest ain’t nobody got time for that. Most people spend when they get it and if they save it’s for emergencies. Just saying, the research shows that we are not good at saving the coins, just spending. Therefore we work longer.
I read somewhere that the perennials will be the segment that changes and disrupts the workplace more than the millennials. Research has shown that perennials take fewer sick days, have stronger problem solving skills, and more likely to be satisfied at work. Let’s not forget the loyalty to the organizations. Think about the person you go to for advice at work. Are they older than you and have they been at the organization longer than you? Wiser, knowledgeable, guidance counselors, awesome employees, and hardworking. Gives us all something to look forward to in our older years if we decide to continue working. Like I stated last week, know your worth!