There are gradual, but significant changes happening in today’s U.S. labor force. Within the latter part of the 20th century, changes in demographics, including slowing growth, aging and increased diversity have been driving a considerable impact on what the labor force looks like. These changes are projected to impact the workforce – in the favor of women in their Prime. Read on for a few facts below and tips on how to navigate these changes for career success.
Diversity Within the Labor Force
The population has steadily been increasing throughout the U.S. due to a rise in ethnic and racial diversity as a result of increased births, immigration rates and workforce participation by Hispanics and Asians. This trend is expected to continue, with diverse groups playing a greater role in the work force going forward.
In addition to racial and ethnic participation increases, older workers are remaining at work longer due to financial reasons, healthcare and changes in Social Security laws.
Furthermore, with men receiving less pension and retirement and more women taking on roles of increased responsibility, we are now seeing a decline in the participation of men in the workforce while more women are participating.
This trend allows unprecedented opportunities for women over 50 to excel in leadership roles! New research shows that women over 55 are better suited to lead organizational change than most of their male counterparts. Now is the time to seize the day and capitalize on this well-deserved shift in the workplace.
Declining Younger Population in the Workforce
Prior to the 1990s, the younger generation of workers participated at a much earlier age, often immediately following high school. With the increase in college enrollment and competitive nature of today’s economy and workforce, more and more students are staying in school longer in the hopes of earning a higher paying job while making themselves more marketable when compared to others in the same industry.
We recommend leveraging your wisdom and wealth of knowledge to stand out in 2018. With younger generations remaining in school longer, more opportunities are available for those of us in our prime. Here are some great tips to help better prepare your resume.
Tips for Success in the Future Workforce
For those of us in the older generation, desiring to stay in the workforce, there are a few tips that can help propel your job search. First, we recommend focusing on more recent experiences and possibly deleting some of your earlier work history on your resume. For example, remove some of those earlier roles from the 80s and 90s and focus on what you have done in the last 10 to 15 years. If you are making a career change and your early career history brings a lot to the table, try going with a functional resume format and removing dates from your earliest roles.
In conclusion, based on the emerging trends in the labor force, there is never a better time to refresh your resume and leverage these opportunities in the workplace. Even if you are still working, it is a great idea to brush up on your interviewing skills and techniques.
Now is the time to seize the day and lead the way for the next generation of women by showing up and putting our best foot forward in the workplace. Life is all about taking advantage of those windows of opportunity, so let’s all jump through this one together!
“[My mother] told me that fear was not an option. I was always told that women are stronger, so I believed it.” — Diane Von Furstenberg, Fashion Designer