Generation X workers are facing unique challenges as they juggle caring for elderly parents with raising their own kids. Sandwiched between boomers and millennials, Gen Xers are often overlooked even though they make up the highest percentage of managers today.
Companies are beginning to recognize their distinct struggles and are expanding benefits to accommodate those needs, such as offering free temporary care for family members, broadening paid leave to include elder care and increasing the allowed time off.
Deloitte, for instance, as Fast Company reports, annually offers “16 weeks of paid time off for a range of caregiving needs, including the addition of a new child through birth or adoption, supporting aging parents, and caring for an ill sibling, spouse/partner, or child.”
These kinds of accommodations can go a long way in reducing the strain on Gen X leaders in the workplace. The demands they face at this life stage could also explain why they place an emphasis on saving. Results from a 2017 survey The Harris Poll conducted on behalf of CIT Group’s national online bank showed that while all generations prioritized savings for emergencies, it was especially true for Gen X (63%). Keenly aware of the responsibilities they face, Gen Xers were also at least twice as likely as baby boomers to make savings a priority for 2018.