Broker Check

Boomers Proving Valuable to the Workplace

| March 20, 2017
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InfographicA new study finds that baby boomers are among the most motivated and driven members of the workforce today—and likely will be for some time.

In a survey of executives1, 55 percent said they found that boomers are willing to work longer hours than other generations and considered them one of the most productive employee groups, second only to Gen Xers. Additionally, nearly one-third of executives (31 percent) said boomers needed less feedback than their Millennial and Gen X counterparts.

Many executives (54 percent) said boomers were more motivated by opportunities to make an impact on the business, compared to just 28 percent of executives who said the same about Millennials. On top of the desire to drive progress, boomers are noted for being dedicated, hardworking, reliable and standing out from other generations due to their experience. Half of executives (50 percent) said they brought in boomers for their experience and expertise.

Lucky for many executives, those positive traits will likely be around the office for many years to come. Due to the recession, 81 percent of the executives surveyed said they expect their boomer employees will retire at least five years later than planned. Their assumptions aren’t far off: about two-thirds of boomer workers (65 percent) surveyed by Transamerica2 say they plan to work after age 65 or don’t plan to retire ever. Yet, while 62 percent say they’re delaying retirement for income or access to health insurance benefits, others are remaining in the workforce for other reasons. More than one-third (34 percent) plan to work strictly for enjoyment, which might be one of the reasons that baby boomers are some of the most motivated members of the workforce today.

 

1 "Baby Boomers Providing a Backbone to Business." Futurestep. N.p., Sept. 2016. Web.

2 Vernon, Steve. "Will Boomers Really Be Able to Work past 65?" CBS News. CBS Interactive, 06 Jan. 2015. Web.

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