We are in for a unique change in the workforce. We are approaching a wave of Generation X retirements and that’s leading to shortages in the workforce. Teachers, nurses, doctors, plumbers, and many more positions that AI won’t easily replace, are seeing retirements happen faster than they can be replaced.
So part one of the change is simple to see, and that’s workforce shortages. The other part of this wave is these same Gen X’ers taking on different jobs. People retiring in their late 50’s and early 60’s are not all going to leave the workforce completely. This will happen for a couple reasons.
They won’t leave because their pensions need to be subsidized to live the life they want to live, and they won’t leave because work gives meaning to a lot of them… being productive is important in feeling young and staying healthy. Some of these people will continue working in their old fields after receiving there pension, ‘double-dipping’ and earning both a pension and also doing their old job part time. But others will go into whole new fields.
This is a part of the wave that is undefined and even exciting. I think you are going to see an increase in ‘creatives’ who are going to be 55+ in age. Older social media influencers, and artists, and producers of creative content. You’ll see novelists whose first best seller was written after the author turned 60. You’ll see short, clever, high quality filmmaking and storytelling. You’ll see new companies going viral with first-time CEO’s and entrepreneurs who are also senior citizens.
When Gen X retires they are going to ‘hit different’. Then again they are a generation that seemed to define themselves as different all along. I’m excited to see how they hit retirement are redefine it in the coming years.
