Archive for the ‘The Unretired’ Category
Make 2010 Bad Boss-Free in Your Company
14December 2009
If you run a company or department, or are an HR professional, the thought has probably crossed your mind: how can you boost morale in 2010 after a tumultuous year? I can offer at least one solution. TOT proof your company, and make it safe for success.
Yes…aim to tame the Terrible Office Tyrant (TOT) behavior that lurks in your offices, reducing it at times to a corporate playpen, rife with sandbox politics. Toddler behavior in the boardroom (tantrums, demanding, stubborn and self-centered behavior) costs you. These are some of the 20 traits in my book that many business leaders consider required reading for their managers.
I can also address the topic at greater length in a lively speech for companies and organizations. A preview is available at various sites: LT Speaker clip site, Lynn Taylor Consulting and very soon on YouTube with keywords Lynn Taylor, Author, Speaker, TOTs. You can also contact: 1-800-454-0083.
2010 must be the year of “what’s in it for us,” not “what’s in it for me,” if our economy and businesses are to rebound. P.S. a surprising new sector can help you ratchet down tension with their years of wisdom and corporate savvy. See more on “Gen U”as I call them - Generation Unretired (featured in BusinessWeek) - and read why, at the TameYourTOT.com blog and at another website of Lynn Taylor Consulting’s: www.GenerationUworkforce.com.
Finally, let’s hope that these boss antics are not happening under your nose, but for the sake of levity during the holiday and some helpful awareness, here’s what some some employees reported recently in a national survey, not unlike that shown in an existing, similar YouTube clip!
Introducing “Gen U” – Generation Unretired
6November 2009
There’s been a lot of discussion in recent months about the “unretired” – seniors who are returning to the workforce for economic or personal reasons. I call this formidable group, “Gen U™” because they represent an astounding number of workers – a true generation with a different mindset from previous retired generations.
Now people over 65 (and even under, who thought they could retire early) are asking:
“Is this all there is?”
“Is this all I’ve got?”
Driven by a devastating financial crash, housing market or just plain restlessness, Gen U will make up almost all the growth of the U.S. labor market over the next seven years. According to AARP, eight out of 10 of the 80 million Baby Boomers will work part- or full-time rather than retire. Those 64 million unretiring Americans will constitute the biggest demographic shift in the American workforce since Baby Boomers emerged.
KEY FACTS
1) 93% of the growth in the American labor market from now until 2016 will be from workers 55 and older [because] new estimates show the average retired couple may need more than $300,000 in savings to live comfortably and pay off late-life health care costs. [Based on a recent study by the Pew Research Center].
2) Only 20% of retirees now feel very confident they have enough money to live comfortably throughout their retirement, down from 41% in 2007. [Employee Benefit Research Institute research].
3) Eight out of 10 baby boomers say that they plan to work at least part time after they reach official retirement age, according to the AARP, as noted earlier.
4) 36% of those 56 or older are still working – more than ever. That’s more than twice as many as in 1984 [2007 Bureau of Labor Statistics report].
5) 9.5 million Americans are considering at least a partial return to the workforce because of the economic downturn, according to a recent study by Charles Schwab.
OTHER INTERESTING FACTS
• Only about a quarter of employees 55 and older who were laid off during the past year have found jobs versus 71% of those 25 to 34.
• According to the Social Security Administration, if you are of full retirement age, the government will give you your full Social Security benefits no matter how much money you earn. (Note: If you return to work after you’re receiving Social Security benefits, but are not yet of “full retirement age” - usually 66 years of age - the government will deduct one dollar from your Social Security benefits for every two dollars you earn over $14,160 a year.)
• Baby Boomers are earning online degrees in record numbers to train for unretirement [http://www.allonlineschools.com/online-education-resource-center/adults-online-learning]
• Generational demographics: there are:
• 80 million baby boomers
• 46 million Generation Xers
• 78 million millennials (Gen Y)
THE IMPLICATIONS FOR BUSINESS AND GEN U
This presents an enormous opportunity for companies who wish to tap into this rich resource of skill and experience. While unemployment was at a 26-year high at 10.2 percent in October 2009, there are still a plethora of specialized skills available among Gen U. They laid the foundation for the high technology revolution and challenged the status quo of business in the 1960s. Now, interestingly, they are challenging the status quo of retirement.
Gen U’s contributions reside not only in their skills sets garnered over many years, which can be passed onto Gen X, Gen Y, and Baby Boomers. They have also learned a thing or two about people skills – something often lost on today’s frenzied, high-tech workplace.
Today’s need for a humanized workplace can be well served by such timeless, valued traditions as business etiquette and diplomacy – tenets of business practices applied more extensively in the heyday of the Gen Uers. These skills are the antithesis of what I call Terrible Office Tyrant (TOT) behavior. Suffice to say that their interpersonal skills can help, especially once companies are in a hiring mode again. Just be sure that your managers avoid using TOT management styles when tapping into Gen U for optimum results.
For Gen Uers themselves, this presents an opportunity to re-apply their knowledge, pay off expenses, “give back,” and feel a renewed sense of purpose. While a sense of community can be achieved in a yoga class or golf game, for many of the unretired I have counseled - building something directly impacts the livelihoods of others can be quite rewarding.
This is a truly Gen-U-ine shift that is a win-win for companies and the unretired in the coming months and years ahead.
