Do You Know Where Your Gen Xers Are?

In the next two decades Generation X will be in the position to assume leadership roles left behind by older workers. Some industries, like the federal government and aerospace, are already having to fast-track succession plans to address talent shortages caused by retiring workers. Traditional succession planning, however, is based on the faulty assumption that the next generation of leaders is willing to assume the roles planned for them. Here is why this is not the case for Gen X:
  • Gen Xers have grown up to feel marginalized and ignored as a cohort. This trend has continued in the workplace, as the needs of Gen Xers are consistently dwarfed by those of the Baby Boomers and Millennials.
  • Work-Life balance is a high priority for Gen Xers, who chose jobs closer to home over higher salaries and freelance work over full-time employment. Many are opting for entrepreneurial paths to be able to control their work day.
  • Gen Xers consider themselves fast trackers and now feel stuck in their careers as older workers stay in their jobs longer. Massive layoffs, pay freezes and turbulent restructuring have only fueled existing resentments, causing engagement levels among high performing Gen Xers to plummet in recent times.
When the economy recovers, Gen Xers will be the first to be lured away from organizations, resulting in a crippling brain drain. Most succession planning initiatives do little to address this imminent crisis. What have you done for Generation X lately? Isn’t it time you paid attention?

To learn how to retool your succession planning for sustainability and success, join us for our April 15 online seminar, “Succession Planning for the 21st Century: Future Trends & Practical Guidelines for Building the Talent Pipeline.”