[Fredslist] Monthly Inter-Generational e-Tip - Why Boomers are Different - November

Fri Nov 18 11:42:23 EST 2005

Welcome to 

Phyllis Weiss Haserot's 

INTER-GENERATIONAL RELATIONS e-TIP
November 2005 

10 REASONS WHY THE LEADING-EDGE BABY BOOMERS ARE DIFFERENT

1. The generation is so large in numbers that Baby Boomers have significant clout, and their slots will be hard to replace in the workplace with members of a much smaller following generation.

2. They have always seen and done things differently - "the fathers and mothers of invention."

3 They are the first generation to go for higher education en masse, achievers who continually seek intellectual stimulation.

4. Youth-oriented, they have no image of themselves as old and are protective of their self-image.

5. They are eager to remain active physically and mentally.

6. They want to keep being productive and contributing to society.

7. They have been too busy working and achieving to have taken the time to think of their future and plan for it.

8. Many have deferred their dreams - delayed gratification - often because they have been working so hard..

9. They want to determine their own destiny.

10. They will create "designer retirements" with more flexible work arrangements and better balance than they have had in their time pressured careers.

So what does this mean for both older and younger professionals and their firms?

* The Baby Boomers are interested in continuing to do meaningful work beyond traditional retirement ages - whether they want to continue to work at their current firm or not.

* They don't want to lose control or lose their professional identity.

* When they are reluctant to let go and the younger people want to take more responsibility, inter-generational tensions increase.

* A large amount of institutional as well as substantive knowledge and long-standing client relationships can exit firms if successful transitions are not planned and executed. 

* Firms need to take the initiative well in advance for transitioning planning or the lingering uncertainties can, and often do, lead to lack of trust and to ill will between older and younger partners and between senior partners and firm management.

* Unless firms treat the Baby Boomer senior professionals with the respect they think they have earned and give them support in making transitions, there will be resentment and loss of goodwill, which will hurt firms when it ripples out into the marketplace and recruiting arena.

* Firms need to be willing to rethink the practices that had been workable when fewer people were reaching "retirement" age at the same time and design flexible, people-centered, client-centered and economically viable solutions which will retain the talent and goodwill they need.

* The solutions will be based upon merit-based individual business plans relating to firm and client needs. One-size does not fit all for Baby Boomer senior professional transitioning, but a fair, well designed process, tailored to this new era can make the difference between thriving harmoniously and productivity-sucking internal strife. 

I welcome your thoughts.

Phyllis 

________________________________________________________________________________

If you think my e-Alerts address significant issues requiring serious attention, please forward them to everyone you think would be interested, and send me their e-mail addresses so they can received a free subscription directly. To be put on the list for a free subscription to this e-Alert, send an e-mail to pwhaserot at pdcounsel.com with "Inter-Generational Relations" in the subject line. 

Phyllis Weiss Haserot
Practice Development Counsel, Consulting/Coach to the Next Generation

Author of "The Rainmaking Machine: Marketing Planning, Strategy and Management"

* Next Generation, Next Destination*
* Build Your Influence Quotient (IQ) *
* Get a Seat at the Table *

Voice: 212-593-1549
Fax: 212-980-7940
pwhaserot at pdcounsel.com 
please visit: www.pdcounsel.com 
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