The Baby Boom is a demographic phenomenon that occurred after the Second World War from 1946 to 1965. In fact, about eight million Canadian people were born in this period, causing economic, social, cultural, and political changes in each stage of their growing process. (Statistics Canada, 2013) Currently, Baby Boomers have started to approach the last stages of their lifespan, reaching formal retirement from work and therefore an increase in leisure time. (Cavanagh and Wendy, 2012) As a consequence, concerns about the future effects of their retirement have caused new approaches in areas such as public services, industry, and real state.
Firstly, Baby Boomers will challenge current services such as senior centres and public libraries to …show more content…
Nowadays, Baby Boomers belong to the managerial workforce that affect strongly the organization where they work, thus their following retirement will have a strong impact in Canadian organizations. (Rogers, 1993) According to MacKenzie and Dryburgh (2003), Managers in cities like Toronto and Vancouver are typically the oldest and most vulnerable to near retirement due to the high levels of experience. In fact, Rogers (1993) argues that due to the monetary and human investment in their training through large public educational programs, Baby Boomers have exceled in what they produce the best, bringing positive inputs to the workforce and values that influence the functionality of organizations. (Rogers, 1993) Similarly, MacKenzie and Dryburgh (2003) introduces Baby Boomers as substantial suppliers of talent and experience in the workforce. The Baby Boom generation is a valuable resource for Canadian employers that cannot be easily ignore for the well-being of their corporations. Therefore, their retirement will cause complications in the internal organization of different companies. As MacKenzie and Dryburgh (2003) states the current demographic pattern of employers in Toronto and Vancouver highlights the need of planning for future deficit of managerial employees. To overcome future challenges, corporations should begin to look for ways to …show more content…
Firstly, the author for CBC News (2015) argues that Baby Boomers have both helped in the mortgage payments of their adult children, as well as, acquired even more expensive homes. For instance, Boomers can easily afford to pay for houses in traditional luxury neighborhoods such as Forest Hill in Toronto, and Shaughnessy in Vancouver. (CBC News, 2015) Similarly, Boomers, who live relatively alone or only with their partners, have shown an increase in their interest towards luxury condominiums, where each apartment can reach 3,000 square-foot in size. (CBC News, 2015) In fact, there has been an increase in large, even luxurious, units in the housing market in Metro Vancouver and Toronto because boomers are not interested anymore in the investment potential of a condo and a single-family home. (Hansen, 2014) For example, prices for unit range from $2-4 million in Toronto, $2-4$ in Calgary, $1.5-2 in Montreal, and $2-5 million in Vancouver. (CBC News, 2015) In Vancouver, downtown condominiums have become the new home for Baby Boomers in the last two years. In fact, developers have designed high-rise projects to appeal their specific requirements. For instance, ten projects focused on Boomers as the target, are in planning and development stages through regions such as Surrey, Richmond, and Conquitlam. (Hansen, 2014) Thus, Baby
Firstly, Baby Boomers will challenge current services such as senior centres and public libraries to …show more content…
Nowadays, Baby Boomers belong to the managerial workforce that affect strongly the organization where they work, thus their following retirement will have a strong impact in Canadian organizations. (Rogers, 1993) According to MacKenzie and Dryburgh (2003), Managers in cities like Toronto and Vancouver are typically the oldest and most vulnerable to near retirement due to the high levels of experience. In fact, Rogers (1993) argues that due to the monetary and human investment in their training through large public educational programs, Baby Boomers have exceled in what they produce the best, bringing positive inputs to the workforce and values that influence the functionality of organizations. (Rogers, 1993) Similarly, MacKenzie and Dryburgh (2003) introduces Baby Boomers as substantial suppliers of talent and experience in the workforce. The Baby Boom generation is a valuable resource for Canadian employers that cannot be easily ignore for the well-being of their corporations. Therefore, their retirement will cause complications in the internal organization of different companies. As MacKenzie and Dryburgh (2003) states the current demographic pattern of employers in Toronto and Vancouver highlights the need of planning for future deficit of managerial employees. To overcome future challenges, corporations should begin to look for ways to …show more content…
Firstly, the author for CBC News (2015) argues that Baby Boomers have both helped in the mortgage payments of their adult children, as well as, acquired even more expensive homes. For instance, Boomers can easily afford to pay for houses in traditional luxury neighborhoods such as Forest Hill in Toronto, and Shaughnessy in Vancouver. (CBC News, 2015) Similarly, Boomers, who live relatively alone or only with their partners, have shown an increase in their interest towards luxury condominiums, where each apartment can reach 3,000 square-foot in size. (CBC News, 2015) In fact, there has been an increase in large, even luxurious, units in the housing market in Metro Vancouver and Toronto because boomers are not interested anymore in the investment potential of a condo and a single-family home. (Hansen, 2014) For example, prices for unit range from $2-4 million in Toronto, $2-4$ in Calgary, $1.5-2 in Montreal, and $2-5 million in Vancouver. (CBC News, 2015) In Vancouver, downtown condominiums have become the new home for Baby Boomers in the last two years. In fact, developers have designed high-rise projects to appeal their specific requirements. For instance, ten projects focused on Boomers as the target, are in planning and development stages through regions such as Surrey, Richmond, and Conquitlam. (Hansen, 2014) Thus, Baby