Reply to What Happens when all the Adults Retire at Work?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP I Like  Gen X a lot. I think the last generation that actually grew up and remembers  when work was hard and economy really sucked like from mid 70s till early 90s as kids for most part and as adults internet crash of 2001 and financial crisis. They grew up pre-iphone, internet era where as kids or young could figure stuff out for them selves.

There big downside is entering being born 1965 to 1980 they missed most of Booming Spring 1995- 2000 to really move up ladder and in part of career 2008-2013 they got hit with Financial Crisis. 35-45 are most important years when making jump to VP.

The other issue is the Boomers and Work career longevity. I had an excellent right hand man at my old company and today a women. The man was ten years younger and women 20 years younger. They dont want to work till 67. They also have dual income more than baby boomers so had more savings for retirements (two 401Ks) and often less kids. My last job everyone around 50-65 had 3-5 kids, the folks  30-50 had around 1-2 kids. My right hand man planned to retire by 55. My current right hand women plans to retire or scale back by late 40s.

Working like a dog to be CEO takes years. Usually mid 50s before you get a big CEO job. That does not align with a workforce that wants to start winding down at mid 50s.

Last week I interviewed two candidates. Both Qualified. Job is pretty cushy, 9-5, work from home one day a week, we give a months vacation, ten holidays, if early dismissal or snow I can let folks work from home. Really not bad.

The one who graduated college in 2007 who was only around 33 was looking to "scale back" She worked big four, had a great degree, worked for an amazing firm for resume. In great shape for someone her age. Her husband has a great job, they bought a condo a few years ago DC before prices took off and she had her first kid. Fine but she is looking to scale back.

Second candidate graduated college in 1984. He is looking for next big opportunity. Wants to roll up sleeves get to              work and loves managing and mentoring young people. His last kid just graduated college and was ready to go.

A few weeks ago I fired a 42 year old, person had attendance issues and could not make it to work, showed up late, work project was sloppy,  when I was writing them up they were like I am burnt out from this crap, 20 years of work.

I envy them they are not trapped at work like me. But also it takes 20-25 years to move up ladder, get MBA, get certificates, work at blue chip companies, manage multiple staff and work through various crisis and firedrills so by mid 40s you are in perfect shape to get an SVP or Managing director, but they are getting burnt out right when they should be even more motivated.    [/quote]

Motivated for what?  Continuing to tread water until some unknown time in the future when the Boomers in senior management finally retire and there’s room to advance?  Clearly whatever your company is offering them professionally isn’t very appealing.  Perhaps senior management needs to consider why that is.[/quote]

OP - I Actually gave my retirement plans so the current person knows exactly when they can get my job, I did succession planning and named her, I like her and I even told her. I also plan on sending her to Sr. Managerial training and start to attend Board meetings and regulator meetings. She is only like 37. I am retiring between 7-8 years from now. If I get pushed out early or quit she is lined up. She is two levels away, so I plan on promoting her in next 2-3 years, sets her up perfect. But I got eye-roll at 7-8 years. But meanwhile my level is normally the youngest you can get it is 43-45.

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How long has she been with you? $5 she’s gone in 5 years.[/quote]

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