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Old 08-10-2009, 10:29 AM
 
14,256 posts, read 16,310,868 times
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Quote:
Originally Posted by Alaskapat528 View Post
As for your "Will it make it more difficult for the younger generations to get employed?[/" Yes it will but only for those who don't know what work ethics are and have no idea of how to dress and act in the workplace. Would you say those are accurate perceptions of the younger generation?
That is because the people doing the hiring are usually Baby Boomers and they are looking for the Gen Xers and the Millenials to at least pay lip-service to Baby Boomer expectations in this area.

Gen Xers and Millenials need to understand that it is the Baby Boomers who call the shots in the world of work. We are the ones in the management positions. You need to understand what makes us tick if you want to be successful.
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Old 08-10-2009, 10:33 AM
 
Location: Portland, Oregon
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I can say form my own family (My parents are the boomers, and we have a big family) most are simply living longer in the generations. In my grandparents parents, and their parents, time many did not even live to see retirement...those that did usually had a small pension and lived with their kids. Now I can see my parents and others around their age in my family, and my grandparents, most living till they have passed that mark. My grandparents are in their mid 90's, all of my parents siblings around that age are over the hurdle of 65.

Of course, there seems to be more debt that each of those siblings have as well. The grandparents generation there is nearly no debt, while half of my parents generation still has debt...usually in the house but many also have a good sized credit card payment still. Many have a "live for today attitude" so have little saved up (I'm a finance guy, I get the questions). I see the same spending pattern in people I know, the kids of boomers, where people don't look at total cost but what it costs now...and they want it now.

We can blame others as much as we want, but it comes down to self discipline. Everyone wants what they want now, I certainly do but I make sure I keep myself from that. Delaying gratification and keeping your eye on the future are the skills required to plan and win over time. I think some one called it the flywheel effect for inertia power. The thought is once you get inertia started, little pushes over a long time keeps the inertia going till things happen on their own with minimal effort.
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Old 08-10-2009, 10:36 AM
 
Location: Arizona High Desert
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Isn't it amazing how "young" people think that they will never age ? Newsflash : there will be gray hair, and wrinkles waiting for you. Just keep breathing. People don't have to retire at any age, if they don't wish to. What matters most, is money management, and persistence. It helps to have a good friend base, as well. People can help each other through the rough times.
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Old 08-10-2009, 10:43 AM
 
Location: In My Own Little World. . .
3,238 posts, read 8,230,969 times
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Heard on the radio last week of a man who was celebrating his 101st birthday. He was a practicing lawyer and radio talk show host. He was also a greeter at his church. He regularly puts in 12 hour days. I don't imagine he knows what the word "retirement" means. BTW, when asked what his secret was for longevity (which they always aske these types), his answer was "not dying."

I think his sense of humor has probably kept him going.
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Old 08-10-2009, 11:05 AM
 
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I really don't see much difference form when i was netering the job market in the 60's. i fact back then many more worked their entire life until forced to stop because many more had nothing but a very lao paying social security .I thnik its that many have had to delay their retirement from the crsis or are being careful. But i have never seen so mnay that retire ealry as now.then most retired at 65 which most boomers have not reached yet.Also with many bommers owning small businesses they are unlikely to really fully retire.I also know alot that had to bascailly start over and reinvent themselves after the 70's recession that will be delayed.That is liikely to happen with those in there late 20's thru 40's because of this recession too.
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Old 08-10-2009, 12:05 PM
 
Location: On a Farm & by the sea
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Hey TexDav....Rep to you. I'm just barely 40 so I'm not certain what generation that makes me but I spent a LOT of time with my grandparents who lived through the depression. My grandfather retired at 62 and my grandmother at 60, I believe. She had worked hard, like 16 hours per day, much of her life so my grandfather made it possible for her to retire a bit earlier. They scrimped and saved, but always gave to the church. Those lessons impacted me soooo much growing up. I'm so thankful that I had my mom's example (we were poor so it wasn't like she had a choice ) and theirs. I saw the benefits of my mom and my grandparents starting their own businesses (cafeteria and court reporter) when the economy was bad. I started my own biz 7 years ago and, until this year, did better than I ever did working for a Major Pharma company. This year has been a little tough but still ok. I think it is important for us to reinvent our opportunities, as you say..... if you don't have some diversification in your skills and employment options, you really suffer at the randomness of employment options.
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Old 08-10-2009, 12:15 PM
 
Location: Tennessee
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Quote:
Originally Posted by rubber_factory View Post
What is the basis for your accusation, "lack of work ethic" ?
experience.

And again "you" doesn't mean you personally, we're talking boomers versus younger generation with "you" meaning younger generation and in my case I'm talking about new people coming into the workforce, not 40 year olds.

Younger workers:

Think education trumps experience.

Think it's okay to job hop after employers put so much time and money into training them.

Think they are entitled to promotion and great evaluations. Maybe this is because they are used to over-inflated grades.

Think everything is a team effort and are more concerned with good team process than good results.

Think everything should be measured by fairness and that they're being picked on if they are not afforded equal opportunities.

Overvalue time off over getting a job done.

Think the world revolves around them and their problems and that everyone should get out of their way because they are the center of the universe.

Everyone should wear a helmet and knee pads. (okay, I just put that one in to be funny)
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Old 08-10-2009, 12:22 PM
 
Location: Seattle
1,369 posts, read 3,064,091 times
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When I was an HR consultant a few years ago there was all this talk about a "coming demographic crisis" that was emerging because such a large percentage of the management talent and intellectual capital would be retiring at the same time. So if that really is/was true then I think many boomers delaying retirement is probably an okay thing for the workforce.

All that said, the baby boomer generation has been ridiculously lucky in terms of investments. Housing returns that are 4-5x inflation. Equity markets that have performed better than average since the 70s. Low inflation during most of the time. Dot com booms. Standard of living booms. I really don't feel bad for any boomer that can't retire because they don't have enough money. The fact of the matter is that generation will almost certainly get WAY better luck with housing and equity returns than either Gen X or Gen Y (housing and stocks are generally the two asset classes most consumers retire on).

If people in their 50s lost 40-50% of the value on their 401k and are underwater on their house that's really terrible financial management on their part. People in their 50s should not be 100% equities and should not have a large mortgage on their house if they intend to retire in a 5-10 year time frame. I think many boomers were extremely ill prepared to deal with a recession in terms of their investment/life situation and have paid the price. Perhaps that's because most of them never really dealt with a recession. Perhaps many boomers are just bad at financial management. Keeping risk under control at a later age is pretty important and a lot of people are learning this the hard way.
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Old 08-10-2009, 12:27 PM
 
14,256 posts, read 16,310,868 times
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Quote:
Originally Posted by LauraC View Post
experience.

And again "you" doesn't mean you personally, we're talking boomers versus younger generation with "you" meaning younger generation and in my case I'm talking about new people coming into the workforce, not 40 year olds.

Younger workers:

Think education trumps experience.

Think it's okay to job hop after employers put so much time and money into training them.

Think they are entitled to promotion and great evaluations. Maybe this is because they are used to over-inflated grades.

Think everything is a team effort and are more concerned with good team process than good results.

Think everything should be measured by fairness and that they're being picked on if they are not afforded equal opportunities.

Overvalue time off over getting a job done.

Think the world revolves around them and their problems and that everyone should get out of their way because they are the center of the universe.

Everyone should wear a helmet and knee pads. (okay, I just put that one in to be funny)
Over 30 years working experience tells me that loyalty is a one way street. If a company is willing to lay workers off why shouldn't they job hop?

They think they are entitled to promotion and great evaluations because we - the baby Boomers - have taught them that entitlement. All their lives they have had parents and teachers protecting their self-esteem, playing sports where everyone is a winner, where you don't fail exams but get "deferred success", etc. etc.

They think everything is a team effort because that is the way they are taught at school and how the courses are set up. They don't get taught how to work on their own any more Who created the courses? Yep ... you got it ... the baby boomers.

They expect fairness cos no-one ever taught them that the world is intrinsically unfair.

They value time off? Imagine not wanting to work 50 weeks a year and 80 hours a week.

They think the world revolves around them? Yep, it is their loving parents that organized and orchestrated every moment of their young lives that taught them that. We even have mothers calling our firm up asking for "lJohnnie's" schedule after we have just hired the 22 year old with his GPA of 3.5

What really annoys me is to see them sitting at their desks with the Ipod on all day and using Sametime to contact me rather than walking 5 yards to my desk.
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Old 08-10-2009, 12:37 PM
 
Location: Seattle
1,369 posts, read 3,064,091 times
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LauraC,

In b-school (MBA) we had professors and visiting executives tell us for two straight years that employees are a "variable cost" and shareholder responsibility and shareholder returns are #1 - not employee welfare or loyalty or some nonsense like that. Management has a fiduciary responsibility to shareholders, not employees. Simple fact is - that's how companies are run - they are run on by management on behalf of shareholders for shareholders (private companies still generally have shareholders too). In today's workforce, being loyal to a company because they trained you is just, quite frankly, stupid. Companies already pay you a fraction of the value you create and will let you go as soon as you no longer make sense for them. There is no reason employees shouldn't do the same.

I mean I don't disagree with you that many younger workers were a bit coddled in life and are ill prepared to deal with the real world. But the people that coddled them are those older workers.
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