¶ … formation on the topic of baby boomers and their impact on organizations and businesses. The articles of focus are "Last Boomer Turns 50 but This G-G-Generation Ain't Done Yet" by Dan Kadlec and "Peace, Love, And No Retirement In Sight: Why So Many Baby Boomers Must Keep Working" by Martha T.S. Laham that are a commentary on the predicaments that the generation fast approaching retirement faces.
As Landon Jones, the historian, described the trend 'the cry of the baby was heard across the land,' the end of World War II brought in a trend of baby boomers. As compared to 1945, 3.4 million babies were born in 1946 which was twenty percent more. 1946 was the start of baby boomers after which in 1947, 3.8 million and in 1952, 3.9 million babies were born. During 1954 to 1964, more than four million babies were born after which the trend somehow came to a halt. By 1964, America was home to 76.4 million babies which made up forty percent of the population of U.S. (Baby Boomers - Facts & Summary - HISTORY.com). Baby boom occurred for multiple, concurrent reasons; the Americans who got older had postponed childbirth and marriage during WWII and the Great Depression joined the young people in the maternity wards. In the 1940s, an average age for the woman who got married was twenty two, in 1956 it was twenty. In the 1940s, only eight percent of the women chose not to have children as compared to the women in 1930s, which is fifteen percent more. Many people after the war planned to have children because they were sure that the future now would be peaceful, prosperous and comfortable and they were correct too. Corporations in America grew profitable and larger than before, the labor unions started giving more benefits and wages to the members and the consumer goods were now affordable and plentiful than the previous years (Baby Boomers - Facts & Summary - HISTORY.com).
The Americans now felt that they could provide a good future to their families and the time was different than before. Many articles talk about the effect of baby boomers from which two of them are chosen for review. The articles "Peace, Love, And No Retirement In Sight: Why So Many Baby Boomers Must Keep Working" by Martha T.S. Laham, and "Last Boomer Turns 50 but This G-G-Generation Ain't Done Yet" by Dan Kadlec highlight the topic that the baby boomers might be reaching their golden time but they are still active and do not want to retire (Writer Thoughts).
Article Summaries
The Last Boomer Turns 50 but This G-G-Generation Ain't Done Yet" by Dan Kadlec
The article "The Last Boomer Turns 50 but This G-G-Generation Ain't Done Yet" by Kadlec talks about the idea of baby boomers turning fifty but that does not necessarily imply that they are seeking retirement. Kadlec calls the latest generation "millennials" and starts the article by stating that the adults and young adults of the present times have passed the "boomers" in the main metric which makes them an important gist for mill of the marketers and also guarantees demographers and sociologists would analyze them and talk about them for a lot of time to come. The millennials, according to Kadlec, have already affected the workplace as well as the industries like real estate, auto etc. (Kadlec2015). Kadlec, however, also argues that this does not make the baby boomers less impactful as seventy five percent of the wealth of America is controlled by people who are 55 years old. Healthcare is also very costly and is part of seventeen percent of the country's economy that is one main area where the baby boomers have created a lot of change. Retirement is also discussed in the article where Kadlec states that the boomers who are 88 or 92 years old cannot afford to even imagine thirty years of leisurely life. These people are only starting to remodel the last years of their life through business startups, late careers, or even retirement ideas.
Baby boomers are being looked at by financial institutions as very important. Kadlec further talks about the issue of how the baby boomers opt to live the last days of their lives, which would have huge implications on the legal system and retirement planning as well as medical science; concluding with the statement that the baby boomers might have reached their old age, but they still have a lot to offer and are significant (Kadlec 2015).
"Peace, Love, And No Retirement In Sight: Why So Many...
Another proposal would be to include new state and local government workers in the system (Kubarych, 2004). Medicare and Medicaid Medicare and Medicaid were formally enacted as amendments to the Social Security Act in 1965. These programs guarantee health insurance for the elderly and the poor. The Medicare program covers most persons age 65 or older and consists of four related health insurance plans, a hospital insurance plan, a supplementary medical
Baby Boomer Retirement Economic impact of the impending Baby Boomer Retirement Within the next two decades, the largest segment of the American population will be retiring, leaving a huge void in America's workforce, as well as creating the largest single pull on the struggling Social Security system that America has ever sncountered. According to Dailey (1998) over one third of the American population is composed of this generation. What will be the
Given the declining ratio of workers to reitirees, the level of increases to fix the shortfall would be too burdensome and would negatively impact consumption of workers who aren't retired. Reducing the rate of growth in benefits for future retirees could work if implemented in an appropriate manner. An outright reduction in benefits would be too punitive on retirees and would further dampen consumption. Instead, the reduction in benefits would
Multigenerational Workforce Motivation Leadership Style Talent management and human resource management personnel have, been aware of the commercial value of creating and leveraging an all-encompassing, diverse workforce for several years. Recruitment and employee retention programs have focused on gender, ethnicity, race, recruitment and career development of veterans, disabled persons, etc. One can observe increased demands among corporate personnel, to include multigenerational diversity in their organizations. Talent and human resource managers have
What emerged from the review of the literature, though, was the fact that the agency's top leader recognized that something must be done to address this problem and took substantive action in the form of offered alternative work arrangements for patent office employees in response. The impact of this initiative was shown to be highly positive, with a significant reduction in employee absenteeism as well as other cost savings
Since the increased presence of a part-time workforce and the emergence of contingent workers are two of the most common, nonstandard work statuses evidenced in recent U.S. history, their development is worthy of considerable attention" (emphasis added) (p. 16). White-collar contingent workers, and the human resource departments responsible for their administration, though, are both confronted with some motivational factors that may not be shared by their traditional counterparts, particularly those
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now