Baby boomers, those born between 1946 and 1964, comprise a significant portion of the Arab population. While many of these individuals have entered into retirement, or are eagerly awaiting it, that is not the case for all. For many of these individuals, they believe they still have a few years left in them to fulfil their business pursuits and goals.
But are there still opportunities available for these job-hunting baby boomers? With the rise of millennials, there is a growing perception that there are fewer options available for baby boomers- who are being phased out by these young up-and-comers. In this article, we’ll delve into the current job market and demonstrate how there are still great opportunities available to baby boomers, especially in the Middle Eastern business world.
Why All Is Not Lost For Baby Boomers
The millennials may be eager to rise to new business positions, but their path is not without obstacles. Studies have indicated that there is a massive skills gap in the Gulf between these millennials and the baby boomers. Despite the large number of unemployed young adults yearning for opportunities, many of them are qualified to successfully take over positions within the business sphere. Particularly in the Middle East, these many of these millennials are not adequately educated enough with the necessary skills to bridge this talent gap. And many of the millennials who have acquired these skills did so while attending university overseas; of this demographic, a significant portion of them have elected to remain abroad rather than returning to the Middle East. This means that older individuals who do have these skills, and who know how to demonstrate these skills to hiring managers and recruiters, are still in a prime position to acquire new business roles within this region.
What Type Of Alternative Roles Can Be Found?
Baby boomers can pursue typical business positions just like any other business professional. However, there are several options that can be advantageous for seasoned businessmen that they should also keep in mind. Consider the following alternative roles that are especially suited to highly qualified and experienced individuals:
Interim managers are accomplished executives with specialist skills and a proven track record of business achievement. Interim managers are typically hired by organizations on a project basis to solve business problems. They can fill gaps or take on strategic roles. They deliver results quickly before moving on to their next assignment.
Interim management roles are prime opportunities for baby boomers because of the short-term basis of projects and contracts. Because organizations are not tied down with permanent salaries and employer obligations, they are less likely to hold age as a pressing hiring criteria. Further, because employers are looking for qualified experts in a given discipline, older job candidates are likely to be preferred to younger, less proven ones- such as millennials.
For the baby boomer with Chief Executive experience, the transition to a board room role can be a fantastic alternative. In contrast to their role as a CEO, the role as a corporate board member is more of a part-time role. The board, led by the Chairman, is responsible for protecting investors’ interests. These include the company’s profitability and stability. The board usually meets several times a year, during which it sets long-term goals, reviews financial results, evaluates the performance of high-level managers, and votes on important strategic moves.
Let’s say that millennials start to acquire more and more executive positions. While they may be talented individuals, there are finer points to being in charge of an organization. Executive coaches help advise these up-and-comers. Executive coaching is a facilitative one-to-one, mutually designed relationship between a professional coach and their client, typically a CEO. The coach is contracted for the benefit of a client who is accountable for highly complex decisions with wide scope of impact on the organization and industry as a whole. The focus of the coaching is usually focused on organizational performance or development, but it may also serve a personal component as well.
With the technological advancements over the past decade, executive coaching has increased tremendously as you can now conduct sessions online via web conferencing, attracting new clients through webinars. If this is something you may be interested in, click here for more information.
As the evidence above clearly shows, the career outlook for baby boomers is far from bleak. Many opportunities are still available to the baby boomers that still have the burning passion to fully pursue their professional objectives. With the correct measure of intelligence, networking, flexibility, and perseverance, baby boomers are very much still in demand and can still excel in the current job market.
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