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Why Are Gen X and Older Millennials Experiencing Job Insecurity?

Sep 5, 2024 | Difficult Conversations

I’ve been hearing from more and more professionals feeling uncertain about their jobs, and it got me thinking—what’s changed in recent years to cause this?

As the job market evolves, many older Millennials and Gen Xers are facing a landscape full of uncertainty instead of reaching the peak of their careers. What’s behind this shift?

Job Insecurity Due to Rapidly Changing Technology

Automation, artificial intelligence, and other technological advancements continue to disrupt various industries, rendering certain skills and roles obsolete. While younger generations often enter the workforce with adaptability to new tech, many Gen Xers and older Millennials find their long-honed skills becoming outdated. The challenge of continually upskilling to keep pace is a struggle that often contributes to feelings of vulnerability and insecurity.

Economic Instability Spurs Job Insecurity

Globalization and economic shifts, including the pandemic-induced recession and loss of jobs for millions of Americans in 2020, have led to unpredictable job markets. Companies restructuring or downsizing can disproportionately impact mid-career professionals, who often command higher salaries and benefits. Consequently, these age groups may feel an acute sense of precariousness, worrying about their employability and financial stability.

Age Bias Fuels Job Insecurity

Despite their experience and expertise, many Gen Xers and older Millennials encounter biases that favor younger employees perceived as more adaptable and tech-savvy. This leads to fewer advancement opportunities and a persistent fear of being sidelined in favor of younger talent.

Job Insecurity Stems From the Changing Nature of Work

The evolving nature of work itself — characterized by the gig economy, remote work, and freelancing — also adds to feelings of insecurity. Traditional, stable career paths are becoming less common, forcing these generations to adapt to less predictable forms of employment.

Tackling this issue takes effort from both sides. Employees need to keep adapting, while employers must make systemic changes to foster a culture of inclusivity and stability for all age groups. 

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Paul Bramson

Paul Bramson

Paul Bramson is renowned as a powerhouse on keynote stages and in training arenas. He is widely regarded as being one of the most impactful speakers, trainers and C-suite coaches in the world today. Paul is recognized as a leading authority and thought leader in the areas of communication, leadership and sales boasting media mentions in Forbes, Fast Company, Fortune, BuiltIn, Yahoo, and MSN. With an extensive 25-year tenure, Paul has continually ignited and empowered professionals, leaders, and teams across all echelons. His ability to captivate and engage audiences originates from an authentic zeal, unique aptitudes, and an unyielding dedication to professional and personal enhancement.