Baby Boomers are also known as boomers and are a demographic group of people following the Silent Generation. The widely accepted definition of baby boomers is a group of people who were born between 1946 and 1964. Baby boomers grew up during a period of rising affluence.
Baby boomers also consist of one of the most significant learning populations in today’s world.
This is because numerous baby boomers are retiring from their jobs.
Thus, they are looking to learn and develop new skills. In this post, we will dive deep into the world of Baby Boomers and understand their key characteristics, but before that, let us know who Baby Boomers are and why they are called so
Who are Baby Boomers & why they are called ‘Baby Boomers’?
Baby boomers are the people who are now moving towards ‘retirement years’.
So, they are the designated group of individuals who were born between 1946 and 1964.
Now, you must be thinking why these people are labeled as Baby Boomers?
The reason is-
As per the stats, there was a notable boom in the number of births that occurred at that time. In the year 1946, which is also known as the 1st year of Boom, around 3.4 million babies were born in the US.
This boom was always witnessing four million babies born every year from 1953 to 1964, and after that, this baby booming trend started declining. However, till then in this time, around 76.4 million people were born in the US, which was one-fourth of the total US population.
For today’s businesses, targeting these people and converting them for some specific kinds of products and services is significant and that is why, businesses come up with the term Baby Boomers, and make particular strategies as per their characteristics.
Now, as you got to know who Baby Boomers are, let us have a look upon their characteristics so that you can chalk out your business strategy as per their requirements
Essential Characteristics of Baby Boomers
1) Motivated to Work
Baby boomers have good work ethics and do not shy away from hard work. They also take pride in their employment status. It has been observed that some of their self-worth arises from their achievements in their careers.
They are known to have put in tremendous hard work and effort into their work.
Therefore, it can be difficult in finding a balance between professional and personal lives. They are motivated individuals owing to their working ethics.
2) Smart Decision-Making Abilities
As this generation has been very dedicated to their work, they are influenced by rational decision making. It is a multi-step process for deciding between alternatives.
Baby boomers favor objectivity, logic, as well as reliable analysis while making decisions.
The generation is highly disciplined, and this is important for them to factor in the same during the process.
3) Self-assured Nature
Baby boomers were brought up in structured and disciplined houses. They have the defining characteristics of being mature, independent, and responsible.
They have healthy as well as analytical decision-making skills.
They are also not hesitant to question something if they do not concur with it due to these traits. They are not afraid to voice their opinions.
4) Competitive in Nature
One of the significant motivators for baby boomers for excelling in their professional lives was competitiveness. The generation likes setting personal goals and achieving them.
They always want to perform better than their colleagues in an office environment. Baby boomers are driven by factors, including personal growth and self-improvement.
5) Dedication towards Goals
Baby boomers are very goals-oriented. They like to set goals for themselves and achieve them. In workplaces, they also want to be assigned with goals to reach.
This characteristic applies to both their personal and professional lives. Baby boomers want to grow and progress in life. They are highly motivated and focused individuals.
6) Highly Resourceful
One of the most popular traits of baby boomers is their resourcefulness.
As their parents lived through the Great Depression, baby boomers have learned to utilize whatever they have had available to them. This generation can use every resource they have available.
They also have the capability of solving a problem or dealing with a challenge using bare necessities as well.
7) Confident in Nature
The generation has significant confidence in the future. They are known for their confident and positive attitude towards the future, and they hope that the future holds prosperity and comfort.
The reasons supporting this attitude include the fact that they have watched people in business grow and reap profits during their time.
They have also observed how labor unions have helped better the working conditions of the people. They have also seen a rise in wages and increasing access to education and schools.
8) Disciplined in Nature
Baby boomers have grown up in well-structured and disciplined households. This has immensely helped shape them into the individuals they are currently.
They pay heed to all the associated rules and regulations, and they try to follow those rules.
They follow the work ethics and work towards the common business goal in a well-dedicated manner.
9) Liberal for Cultural Identities
The generation had grown up when there was a lot of significant social change going on.
Baby boomers were also more liberal and found music as another way of expressing their generational identity.
They associated with the rock and roll genre, noticeably. Baby boomers are associated with having traits, such as free-spirited, social cause-oriented, individualism, and experimental.
10) Focused on Nature
Baby boomers are also very concentrated, mentally.
They know how to concentrate on a particular topic or subject. They do not get distracted easily, and thus, have great attention spans. This helps them stay on track.
They also take their own time to understand something as they concentrate on each aspect of the task at hand and commit it to their long-term memory.
11) Team Oriented
While baby boomers are competitive, they also like working in teams. They have a strong sense of community, unlike other generations. They want to work in collaboration with their peers in the same as well as different teams.
As they like to perform better than their colleagues in an office environment, they also like working in teams and growing collectively.
They want the healthy competition. The generation is driven by factors including personal as well as collective growth and self-improvement.
12) Aware of Civil Rights
Baby boomers are more conservative as compared to their succeeding generations. The generation opted to show their opinions on civil rights through non-violent protests and tactics.
These tactics are still practiced to approach any challenges faced by the people. As Times Magazine once said, the generation’s reformist energy has surfaced through many grass-roots movements that are aimed at curing everything from the arms race to drunken driving.
The production was also involved in fighting for equal rights for both women and men. Owing to the tireless work of the baby boomer’s generation’s female leaders and many others, we now have equal career opportunities.
After going through these characteristics of Baby Boomers, let us also have a look upon some of the other traits as well-
Key Personality Attributes of Baby Boomers
- Incorporation of the needed Flexibility
- The positive mindset that believes that glass is half-full
- Loyalty towards career and employer
- Integration of strong work ethic
- Motivated and highly Goal-oriented
Significant Values incorporated by Baby Boomers
- Baby boomers believe in equal rights
- You can see full involvement from them
- Baby boomers also include ownership
- They are philanthropic
Work Style preferred by Baby Boomers
- They are driven and motivated
- Baby boomers adeptly avoid conflicts
- They prefer having 50 to 60 hr work weeks
- Baby boomers prefer collaboration
Key Statistics of Baby Boomers
- Baby Boomers play a crucial role in making up 28% of the population
- They also play a significant role for over half of consumer spending
- Baby Boomers are responsible for controlling around 80% of personal financial assets
- As per report 1 in 3 Americans over 65 relies on Social Security benefits alone and 3 out of the four claim benefits when they reach the age of 62 out of financial necessity
- Around 40% of the boomers believe to ‘Work until I Drop’ philosophy
Thus, to summarise, baby boomers have the following personality traits:
- Driven towards work
- They associate their work with their self-worth
- They are loyal to their employers
- Competitive, goal-centric, and process-oriented
- A disciplined as well as focused generation
- Enjoy teamwork while proving themselves alongside
- Rational decision-making skills
- Confidence in the tasks they carry out
- The age deemed community involvement important
- Sought stability and ownership in life with a home and businesses
- Not technologically advanced
- Eagerness to learn and develop
- They are self-actualizing
Wrapping it up!
In conclusion, by understanding the characteristics of every generation, we can better motivate, appreciate, as well as relationships with the individuals around us.
We all know that every age comes with its own set of challenges.
However, they also have their own set of positive characteristics that eventually help society develop and become better.
It was the baby boomers who played a critical role in making the country high and we need to offer baby boomers the right opportunities and services, so they can get the most satisfying retirement that they deserve.
How important do you consider baby boomers for your business strategy? Did we miss any of the critical points associated with the characteristics of Baby boomers?
Feel free to update us in the comments.
Also, share your suggestions that can empower baby boomers to enjoy a higher quality of life.