"Toto, we're not in Kansas anymore". This statement has become a common declaration when recognizing your naivety in a given situation or when things have changed from what they used to be. Following this line another one more directly related to our discussions would be, "This is not your fathers company anymore", which comments on the fact that corporate America has changed. From the throwback days stemming from the Industrial Revolution, it used to be you would start working for a company out of college in your early 20's and work for the same company, providing loyalty to the company and in return the company was loyal to you until retirement at 65, claiming your pension and gold watch.
As stated before, "This is not your father's company anymore". These days it is more common, if not expected, for someone to have numerous jobs and work for numerous companies before they retire, minus the pension and gold watch. While the GenX, GenY and younger have become accustomed to this change, the Baby Boomers are still stuck in the old way mentality of working for the same company many years and the same company taking care of you until retirement. It is the Baby Boomers that are having a more difficult time in this type of environment. Everything they have been told, taught and experienced has been ingrained into their persona and behavior, so when the change, or the axe happens, they are severly devastated...some going into depression with suicidal thoughts. Their self-worth, built up over the years, has been ripped away in a matter of minutes when fired. Those of you who are Baby Boomers...do not let this happen to you!
Why is this happening?
Good question and I will answer. Simply, the corporations are evolving, changing and adopting new methods/processes/policies to increase their bottom-line as well as embracing the brave new world of technology but leveraging technology to increase productivity while reducing their costs aka payrolls.
What can I do?
Another good question! once again I will answer. You can do nothing about the companies making these changes...you can only change yourself and if you want to survive in the brave new world of technology, then you must adapt else you will go the way of the dinosaurs.
But I have been a loyal worker, so why would they do this to me?
Keep in mind it is not personal decision but usually a business decision. The following are the top reasons this will happen:
- Older worker not up to date on current processes/methods pertaining to their job.
- Older worker being paid significant amount of money, due to yearly raises, for a job that can be done by someone paid less.
- Older worker did not climb the ladder of the company and stayed stagnant.
- Older worker did not seek additional training and education to benefit the company.
- Older worker did not move to other positions within company, thus creating value is many departments.
What are the solutions to solve the above issues?
- Go back to school! Get training/education on current processes/methods pertaining to your job. Take training that is offered by the company.
- Inform your employer your desire to take on more responsibility...not less. Make yourself valuable and worth the money you are being paid.
- Seek a managerial role in your area of expertise. Companies and managers are not mind readers, they do not know what you want to do until you tell them. Most managers today need to have the hands-on experience of a specific field before they can manage a team.
- Ensure your yearly reviews "market" your accomplishments from the previous year and discuss your ideas to help the company in the coming year. What have you done for me lately and what will you do for me in the future! This is the what the company wants to hear. The company wants employees, young and old, who are achievers and motivated to perform...show this in your reviews.
- Show your value by affecting the bottom-line of the company...nothing screams "valuable employee" when you can save and/or earn the company money. Ensure this type of achievement is reflected in your reviews...get credit for this!
- If the company is facing tough financial times, then request to "defer" your yearly increase in order to benefit the company. This will show you as a team player looking out for the company and other employees.
- Be the "go-to" person within your organization or in your field. You need to be the person that the boss can rely on, above all others, to get the job done or provide information or guidance.
Bottom-line...you cannot sit still. In today's environment you need to continually display your value to the company. if you do not stay on top of your game heading towards retirement, the company will retire you earlier than you expected.
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