In my last blog I suggest that those currently in their 20s will experience a different ‘life structure’ compared to earlier generations. They face the prospect of a 70 year working life during which they can expect multiple careers with a range of employers. The ‘old values’ of staying with one company and showing corporate loyalty are fast fading as businesses constantly reinvent themselves.
Look at banking – a few years ago banks wanted to draw their customers into their branch network – now they only want to ‘see’ them if there is the prospect of a sale – everything else has moved on-line. Changes in retail are more dramatic – not long ago retail was all about family visits to out of town hyper markets and super stores – now the heavy groceries are delivered while customers flock to convenience stores for their ‘top up’ shops.
The ‘20 something’ generation are already adapting to their changed life prospects. I recent met a ‘power couple’ in their late 20s who had just returned from a six week ‘adventure’ in Asia. This was not a holiday:
- Both had quit well paid jobs in the city to give themselves time to enjoy the trip.
- They had planned and saved for the trip over several years
- Their plan included ensuring they would be financially sound until both were earning again
- After the trip – they were ‘changing role’ – new firms and different jobs
- One returned to start a new job while the other was confident of finding the right role
They had no regrets. Faced with the prospect of working for 70 years their ‘Bucket lists’ have evolved to ‘Adventures in life’ – to be enjoyed ‘as you go along’.