Baby Boomers: Definition, Age Range and Characteristics of The Largest Generation in History
Baby Boomers are the demographics of people born between 1946 and 1964. The members of the Baby Boomers fall between the age range of 57 to 75 years old.
Baby Boomers came right after the Silent Generation and were followed by Generation X. The Boomers the known to be the largest generation as they were born during the population surge in the years immediately following World War II.
The people of this generation are known to have focus, discipline, and a strong work ethic. According to a survey conducted by Pew Research, the Boomers have been labeled as the gloomiest generation as they have given lower ratings to their standard of life and worry that their incomes won't keep up with inflation.
This generation is shaped by several unique historical events such as:
- The Civil Rights movement and campaign from 1954 to 1968.
- The rise of television
- The first moon landings
- The Vietnam War.
- The Watergate scandal.
Characteristics Of Baby Boomers
Baby Boomers have some unique characteristics that make them different from the other generation. Some of them are discussed below.
1. Stong Work Ethics
Baby Boomers are known to have a huge influence on the workplace as they were the first ones to enter the job market after the war. The members of this generation have been working since they were teenagers and adults.
The Boomers grew up with a general motto "Work hard and you'll get ahead" and they have followed the motto throughout their lives. They also take great pride in the designation they hold and the time they spent working in a company.
The members of this generation may choose to work past their age but may change the type of job.
Boomers experienced a competitive environment because of the rise in population. Their competitive side is also known to be driven by the desire to succeed and the fear of failure.
Their competitive nature helps them to achieve their dreams and seek promotions and acknowledgments in the workplace. Their competitiveness has contributed to their value for workplace visibility.
This generation was raised by parents who faced the Great Depression. Boomers grew up in an era where they learned to utilize everything they had available.
Baby Boomers have faced economic challenges such as recession, inflation, and market fluctuations so they have developed financial planning skills to be resourceful and secure their futures and provide for their loved ones.
The resourcefulness of this generation showcases their ability problem solve, adapt, and find unique and creative solutions to the opportunities and challenges they have faced throughout their lives.
4. Family Values
Boomers have strong family values due to the societal and cultural context in which they grew up. They were raised during a time when the nuclear family was the norm so many of them value the stability that traditional family structure brings.
They prioritize spending quality time with their loved ones. The members of this generation plan several bonding activities such as vacations, shared meals, and celebrations.
This generation values their close relationship with their extended families and also values the experience and wisdom passed down through generations. During the time of need, they mainly rely on their families.
5. Team Oriented
Baby Boomers value the importance of teamwork in professional settings. While growing up they experienced and participated in several group activities such as rallies, protests, and other community initiatives.
In the workplace, Boomers showcase a team-oriented leadership style and value the input from their team members. They seek to create a supportive work environment. Baby Boomers believe in collective growth and self-improvement.
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Impact of Baby Boomers
Baby Boomers have made an impact on the population after World War II. Their hard work, competitiveness, and work ethic have influenced the economy and shaped the future for the next generations.
Some impacts of Baby Boomers have been discussed below.
1. Increase in Population
After World War II, America experienced an increase in the birth rate an average of 4.24 million infants every year between 1946 and 1964. Other countries such as Canada, France, Norway, and Australia also saw surges in birth during and after World War II.
The increase in the population was named Baby Boom and according to U.S. Census Bureau, the population boom period lasted from mid-1946 to mid-1964. Due to the high birth rate, many schools were built during the Baby Boom.
2. Impact On Business
According to Investopedia, Baby Boomers are the demographic of people with large amounts of wealth in America, making them the prime market segment for numerous products and services.
As the generation is gradually aging, they have impacted and shaped the products and services of various industries. Several companies have produced a wide range of anti-aging products, investments in healthcare, and advanced medical technology.
Not only as consumers but the Boomers have also shaped the business sector as entrepreneurs and employees. As per Forbes, in America, the population of Baby Boomers is estimated to own 2.3 million small businesses and employ over 25 million people.
Three-fourths of Boomer-owned businesses are profitable and have contributed to the growth of the country's economy.
3. Impact On The Workforce
The first members of the generation reached the traditional retirement age of 65 in 2011. Every Baby Boomer will be 65 or older by the year 2029.
As per the report provided by Pew Research Center, nearly 29 million Baby Boomers retired in 2020, and 75 million Boomers are expected to retire by the year 2030. The high number of early retirement is known to be triggered by the pandemic.
Mass retirement will impact the workforce, it will likely lead to a workforce gap as organizations must fill the positions made available after Baby Boomers' retirement. The members of this generation often hold higher positions so finding a qualified replacement becomes difficult for the companies.
In conclusion, Baby Boomers are the generation with the largest population that shaped family values, and work ethic for future generations. Their competitive nature created several opportunities, unique business ideas, and employment that influenced economic growth.
The projections from the US Census Bureau have pointed to 2030 as a milestone year in which older adults (Baby Boomers) will outnumber children for the first time in America. Boomers are known to have longer life expectancies and low rates of smoking than the previous generations.
However, there are high rates of other chronic diseases such as diabetes, high cholesterol, and hypertension. Technological advancements in medical treatments have helped to cure chronic diseases.
The increase in life expectancy will impact the retirement years. The members of this generation are expected to spend more time in retirement than the Silent Generation.