Baby Boomers Case Summary
In the article, “Baby Boomers: Every Silver Lining Has a Touch of Grey,” the author, Paul Hyman, discusses Baby Boomers and statistics on retirement and spending. The oldest of the Baby Boomers (those that were born in 1946) turned 65 last year, a time where Americans generally retire. “A quarter of middle-class Americans are despondent about their savings causing them to delay retirement until they are at least 80 years old,” Hyman says. Reason being, Boomers aren’t in a hurry to retire, their views have changed from their earlier years. “In North America alone, big cost spending climaxes at the age of 50,” says Kenneth Gronbach, author of “The Age Curve: How to Profit from the Coming Demographic Storm.”
Importance and benefits of managing this diversity There is prescription that a company could apply to be successful, therefore it depends on the capability of the leader to sort out what is best to the organisation based on the level of productivity of the workplace. Leaders and managers should know and recognise skills that are vital in creating a positive and effective diverse workforce. One day session of training and programs is inadequate to change a person’s behaviour and styles, therefore the company need continuous development, implementation and maintaining trainings and awareness foundation. The welfare of having a diverse workforce is that it brings a unique standpoint to the company.
Baby boomers are the demographic cohort, known as the generation that makes up the substantial portion of the world’s population. Individuals born during the time of 1946 to 1964 has lived in environments where smoking lead to a detrimental impact in their later years. As the third leading cause of death, chronic obstructive pulmonary disease (COPD) is common among the older population. This disease is the leading cause of both morbidity and mortality. Leading to a consensus that older adults (particularly baby boomers) are at a great risk of COPD because they grew up in an era where smoking was fashionable, cigarettes were provided during the wars, and exposure to secondhand smoke was tremendous.
The topic of this document is the impact of aging baby boomer on labor force participation. It’s a document published on February 2014, wrote by Alicia H. Munnell. There were lots of changes in the labor force participation rate. The great change began in the 1960s with the baby boom.
70% of the responders believed that Gen X are the most effective managers compared to Gen Y or Baby Boomers. Also, people in Gen X scored highest when it comes to revenue generator, possessing traits of adaptability, and collaboration. In contrast, Gen X scored lowest compared to the Gen Y and Baby Boomers in displaying executive presence and being cost effective. Gen X respondents ranked workplace flexibility as the most important perk and more likely to walk away from the current job if flexibility was not available (Giang,
Baby boomers are a great generation from 1940 to 1950 and there are millions of them. Almost exactly nine months after World War II ended, “the cry of the baby was heard across the land,” and that’s exactly what everyone did. Over 76 million kids were born during this period, making it the fastest population growth ever. That generation also makes up over 40% of the US population, which at this time are still the largest generation. The baby boomers have had a major effect on the whole nation.
On March 23, 2010, the President of the United States signed the “The Affordable Care Act” into law and the Supreme Court rendered a final decision to uphold this new law on June 28, 2012. (About the Law, 2015) But the biggest question regarding this law, is whether it is constitutional or not. "The Act establishes the basic legal protections that until now have been absent: a near-universal guarantee of access to affordable health insurance coverage, from birth through retirement. When fully implemented, the Act will cut the number of uninsured Americans by more than half. The law will result in health insurance coverage for about 94% of the American population, reducing the uninsured by 31 million people, and increasing Medicaid enrollment
For the purpose of this paper I will be addressing the Federal Government as one entity. This briefing will address the issue of an aging federal government workforce and how to attract and retain younger employees as evidenced by available research. As a federal government worker at the Department of State, my organization’s mission is to promote American foreign policy throughout the world. To ensure the continued serves to our nation, it is imperative that we plan for the future workforce. Aging population across the world will continue to pose a challenge for organizations.
As America starts to get older and wiser so does its baby boomers. In the United States of America, every day for about the next 20 years, over 8,000 baby boomers will turn 65 years old (2U, 2017). In other words, the number of Americans over the age of 65 will double by 2030 (Hayutin, Dietz, & Mitchell, 2010), which will be approximately 20% of the total US Population. These baby boomers have 80% chance of having at least one chronic medical condition and 77% have at least two. These chronic diseases heart disease, cancer, stroke, and diabetes combined causes almost two-thirds of all deaths on a yearly basis (NCOA, 2017).
Children of post war America are the most effective demographic gathering ever. Organizations flourishes or comes up short in light of their capacity to keep pace with the preferences and aversions of this financial powerhouse known as the people born after WW2. At 76 million in number, boomers have the impact to control the commercial center and ensure they keep a spot set only for them as the biggest era. Because of its substantial size, the Baby Boom era has significantly affected society, business, and the economy. The effect of the era has been felt in every aspect of buyer spending, from expanded offers of child items when they were youthful; to rising interest for houses as they set up their own particular family units; to development in retirement funds vehicles as they get ready for their senior years.
Anog Amos Miss Rossoni CHC2D 27 July 2015 Baby Boom Impact In the post war years, Canada was in an era known as the baby boom. Canadian soldiers overseas postponed, settling down, giving birth, and making up lost time.
Intergenerational issues in the workplace can cause tension between the employees and employer. Millennials feel that it is harder to grow and develop their careers in organizations because of this problem due to an absence of guidance from other generations in higher positions. Where Millennials feel lack of guidance, Baby Boomers and Generation X feel that Millennials entering the workforce are directly after their positions, therefore causing a strain on workplace relationships between employees. If intergenerational problems in the workplace continue to remain unsolved, it can and will cause disruption within the organization. Productivity can decline due to low cooperation between multigenerational employees resulting in lower efficiency and completion objectives leading to disruption within the organization.
Today’s most business primary concern is retaining workforce diversity. Recognizing the importance of diversity in the organization and effectively manage to ensure the organization and its valuable diverse employees are growing hand in hand. Rising of immigrants’ employment opportunity, joint venturing business globally has equally brought an opportunity for shared values, exchange of cultures and intelligence to widen the opportunity for business enterprise and also a platform for employees to reach target goal.
Who doesn’t enjoy watching a heartwarming film about love, family, and attachment? There 's something about watching a story about love and attachment formation that pulls at the heartstrings of humankind. Hollywood is very aware of this and has provided us with a steady stream of movies centering around these themes. One such film is the 1987 production Baby Boom. This film tells the story of J.C. Wiatt, a successful career woman living in the heart of New York city, who lives and breathes her job.
Ensuring the reward system that is based on performance and not on tenure. Motivating younger employees to work together with older employees. Incorporating ‘Teamwork’ within organization. In addition, organizations can create an environment where both generation employees can share their ideas and can work as a team.
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