The challenges of Generation X
Generation X are the forgotten generation.
Making up nearly 28% of the population, Generation X are a bunch of fun loving, fearlessly happy individuals who transformed the eighties and completely owned the nineties.
The generation started out with high expectations and before the rise of the Millennials alongside the resurface of the Boomers, they appeared to have it all. But in recent years, Generation X have become overlooked and upstaged.
During the earlier days, they entered into a new and upcoming workforce, where there were countless job opportunities and promises of success.
The issue is, as many Gen Xers have become more comfortable within their job roles, they’ve lost the confidence, drive and flexibility to pursue the career changes they dreamt of. As a result, 50% have admitted to feeling disconnected from their work, depicting the ‘slacker generation’ title.
The Boomers have also limited progression for Generation X as 39% are not expecting to retire until they’re 66 or older and another 10% don’t expect to retire at all, leaving Gen Xers further down the rank with very little opportunity to claim those leadership roles.
The idea of being stuck in middle management is frustrating and Gen Xers are fighting to be heard.
The advantage they have is that they understand a lot more than they’re given credit for. Possessing the best characteristics of both the Boomers and Millennials, Gen Xers can take a middle ground and use their knowledge productively.
As new technologies begin to overtake the workplace, Boomers don’t understand the lingo whilst Millennials have become obsessed with social media.
Gen Xers created the internet, acknowledging the changes that needed to be made, learning from their mistakes all whilst reshaping the future of technology into something great.
Although their struggle to reach new heights in the workplace is noticeable, Generation X certainly know how to knuckle down and push themselves further, resistant to give up. Instead of wallowing in self pity, Gen Xers work with what they’ve got and continuously look for ways to improve.
But, it’s not just within the workplace, Generation X are in even worse shape financially.
As the stresses of finances esculates, 40% of Gen Xers have reported that they don’t feel financially secure, whilst 38% have more debt than they do savings.
The issue is, Gen Xers are in the midst of paying off their student loans, raising families alongside paying off various debts AND saving for the ever looming retirement.
It’s easy to understand how Generation X are finding it increasingly more difficult to get financially established. As the debt repayments increase and the personal payments add up, it’s no surprise that they are on track to becoming the first generation that could suffer with less retirement funds.
However, considering the amount of financial burden, it would be easy to assume a negative outlook for the Gen Xers. But, as Boomers live in the past and Millennials fear for the future, Generation X treasure the present and are pushing back, through attitude and health, like never before.
It’s clear that Gen Xers know how to ‘adult’, but it doesn’t mean they’re not kids at heart.
The marketing world seems to have forgotten that and developed an obsession with Millennials.
Brands are set on focusing their time and effort selling products to a new, updated generation in the hope of growing their market. But, as Generation X have the highest weekly expenditure, it seems unproductive to push them aside.
During a study, 70% of participants wanted brands to create a simpler lifestyle for them, 33% wanted to gain greater inspiration whilst 30% used marketing content as a form of entertainment.
The problem is, the marketing world appears to be so focused on the long-held stereotypes towards a certain group of consumers. As Generation X are saddled with lazy preconceptions and ‘parent’ attributes, the marketing world doesn’t seem to have considered what they really want.
Yes, Gen Xers are busy people who need to keep on top of their professional and personal lives but we all need a little ‘me’ time. It’s time to start giving them what they need and what can be useful to them.
Once you look beyond the stereotypes, you’ll discover a group of ambitious individuals who have shaped the world. It’s time to embrace the generation and bring back life to them.
Generation X work hard, play harder, learn from the past and plan for the future - They’ve got this!
