Tuesday, June 9, 2009
Baby Boomers and the Economy
Let's look at this in a macro-sense. The U.S. economy is struggling. Our new graduates are going into the workforce competing fiercely against one another for low paying entry positions.
The babyboomers, my parents, who have been in the workforce are deciding to stay working and not retire--although, many are over eligible to retire. Probably they are avoiding retirement because of the economy. However, this is placing a burden on our young generation.
Those of us in middle-management positions are unable to advance, preventing others from move up the ladder, and eventually limiting openings to new employees. Put aside the office politics, this is causing stress in the job market.
Should we ask our babyboomers to retire? I wouldn't. There is a reason companies, agencies, and businesses succeed. It is because of the establishments--those individuals who have dedicated years of their lives to the profession. The foundation of a corporation is in those individuals who have been the seeds of the organization since its inception.
On the other hand, babyboomers should realize that retirement is inevitable. Passing that baton of knowledge to the next generation can help a company's legacy continue onward to success.