Xers will work less for more

At least that’s the word according to this article.

Of course, it’s about Canada. So let’s hope what is true for Canada is true for the U.S. And why shouldn’t it be?

Some excerpts:

But from the perspective of members of Generation X – those roughly between the ages of 30 to 45 now, who will essentially be running the show when the boomers bow out – there’s a lot of upside to this. Perhaps it will result in a future where companies are pursuing them for employment, offering generous sums of money, and giving them the chance to call their own shots on when they work, how they work and where they work.

Sounds good to me.
“As these people [Boomers] in their 40s and 50s get older, you’re not going to get an offsetting replacement of young people,” Cross says.

Don Drummond, the outgoing chief economist at TD Bank Financial Group, calls this trend “unambiguously positive for the younger generation.”

Drummon predicts wage increase of up to 3% annually. Boo Ya!

Additionally:

Drummond also says there will be more in the way of flexible work conditions, particularly when one considers an important target for employers will be women with children. Child-care services that are subsidized by employers, he feels, is something that will become more common in Canada.

One would hope that U.S. companies would follow suit but I’m skeptical, and will take a wait and see attitude.
However, I’m more positive about….
….increased flexibility will be a key change in the employment structure of the future. This will result in more people being able to choose to work on a contract basis, part time, from home

I predict that more and more workers will be on contract, jumping from work place to work place, adding more and more to their skill set, making them very  nimble and diversified. And as the article states because of this new environment GenXers will have opportunities to control their own lives in ways Boomers never had. Finally, we get something Boomer don’t. Woo hoo!
Of course, there is not guarantee but lets hope that this is true:
“For Gen Xers, they’re going to write their ticket,” she said. “They can literally be able to say, ‘This is how much money I want to make,’ and the company will give them options on how they can do that.”

Speaking for myself, this would be a nice change to having to accept whatever is offered in salaries as well as raises.

There people who believe that this generational shift, from Boomers in charge to GenX (and to some extent Millennials), will cause a crisis. However, the article puts forth a contrary opinion, suggesting that the transition will be gradual and not a mass exodus, for a number of reasons.

There will be a down side too:

An inconvenient reality Gen Xers must deal with is the increased strain that will be placed on Canada’s social safety net as boomers become less of a lucrative tax base for government, while becoming bigger users of services such as health care.

And one has to assume that this will be as big, if not bigger issue, here in the U.S.

Also, not being able to fill job would likely keep the economy from growing at a rate it might otherwise.

What kind of advice does the article offer Generation X: “Don’t let the 50 and 60-year-olds screw it up for you.”

That’s the X factor isn’t it. You just never know what Boomer’s might do to make things more difficult than they have to be.

The article ends thusly:

“Many boomers still don’t feel balanced, and that’s because they continue to buy into this I’ve-got-to-work-hard thing,'” she says. “Both Gen X and Y are saying, ‘I’m not willing to put in the same hours you’ve put in to get those results. I want to get the results, and I’ll get them, but I don’t think I have to be at the office for 10 hours to get them.'”

Perhaps some Boomers will scoff at this. Let them.  I mean, I don’t know about anyone else but I am totally down with NOT working 10 hours a day. Ugh!

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One response to “Xers will work less for more

  1. I completely agree with the part about more and more Gen X and Gen Y doing contract work. Greater flexibility, more opportunities for work/life balance, all kinds of good things. Our next generation of employees thinks less about long-term employment and more about long-term employability.

    I love my parents to death, but they will definitely be an economic drag.

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