Now reaching middle age, Generation X are the generation born between 1960 and 1980. This generation is just starting to take their seats at the highest tables in business and politics.
So why did the so called forgotten generation decide to vote for Brexit/Trump? And what could it mean in the future for them and employers who have a large amount of Generation X employees?
Vote For Change
There is a suggestion that cynicism seems to be the overriding factor that made up people’s minds to vote for Brexit/Trump. As millennials get older and have more responsibilities such as mortgages and families to feed, their views may change. As they reach the peak of their careers and the next generation of voters comes through, we may start to see another shift in people’s ideals. Stability of the workforce and company future will be a major selling point to all parties.
Generation X’s Future
In 14 years time in 2030 Generation X will be reaching retirement age. The next few years are going to be important for their future, more so than millennials who will be starting to reach positions of power and influence by then.
Generation X have around 60% more debt than previous generations, again adding to the pressure they face as they reach retirement age.
Due to rising average life expectancy and people choosing to start families later in life, Generation X will be the first generation that has the dual responsibility of raising young children and having to care for elderly relatives. This will put added pressure on employers as Gen. X’ers need to take more time off work to care for their families.
This may lead to more reliance upon temporary workers in the coming years and those born after 1980 may have a well established track record of taking temporary work across all professions rather than the establish professions the Gen X lean towards.
London has always been a world leader in setting new trends and today we can see the groundwork is being laid by employers to meet these changes. So it should be interesting times for one and all.