The impact of a changing economy on Gen X job seekers.

• Author: Audibert, Gail
• Position: Economics

GENERATION XERS (those born between 1964 and 1983) have recently experienced a reality check. Since the mid 1990s, those entering the workforce or labor market for the first time did so at the height of the market. As a result, they developed a somewhat unrealistic expectation of what the working word is like and how to approach it. Now that the economy is changing, so is the employment outlook. This is not a doomsday prediction for Gen Xers, but, rather, a wakeup call. With a few changes to their job search attitude and tactics, they can still find the fulfilling and balanced careers they desire.

We've all heard the Gen X profile and, by most standards, it is not a positive one. It maintains that they lack loyalty, work ethic, and motivation. However, any stereotype, while it may be based on some commonalities, tends to exaggerate certain characteristics. Let's look closely at factors that impacted the development of Gen Xers:

* Many watched as their hardworking, loyal-to-their-company parents were laid off.

* They grew up in a high-tech society.

* Overall, they are the most affluent generation to date. Depression and war did not touch their lives as it did those in earlier generations.

* They represent the first generation of latch-key kids in the workforce.

Here's how those societal factors impacted their work attitudes:

* Since they saw company loyalty backfire on their parents, they are not as willing to make the same sacrifices in terms of long hours. Nor do they expect to stay with any one company for much longer than five years at a stint.

* The fast-paced, technology-based world they grew up in means that they excel at adapting to change easily and willingly--a quality that the preceding generation struggled with.

* They want work to be about more than making money. They want a place to learn and have fun as well. They are seeking a more balanced life than they saw the generation before them lead. In the recruiting/human resources fields, this balance is referred to as "work/life integration."

* They value and expect a certain degree of autonomy. They prefer team environments, wanting to be treated more as peers than subordinates.

To summarize, the Gen Xer profile is one of self-reliance, positive thinking, flexibility, and an inner belief that it is up to them to succeed. All of these traits will serve them well throughout their careers.

However, the economic prosperity that the country had enjoyed since the mid 1990s gave many Gen X graduates unrealistic career expectations. They found themselves the focus of an economic feeding frenzy as some of the best companies around courted them. These firms had more positions than people to fill them, so competition for the new graduates was fierce. Many Gen Xers went on multiple interviews, and salary offers were even higher than they could ever have imagined.

In addition to lucrative salaries, a number of companies sweetened the...