A significant number of unemployed or under employed work force members who are 50 years or older are now part of a new group, the Talent Lost group. This group emerged from the growth in the service sector labor force, which started in the 70’s. The baby boomer group members who were born between 1955 and 1964 and the next group generation X, is where membership originates.
Talent Lost is the premature removal of a highly experienced above average worker when their abilities have not diminished and their contribution can be the greatest. An exceptional worker has passion, talent, knowledge, experience and wisdom. Passion is part of your personality and talent is a natural gift, while knowledge, experience and wisdom increase with age. The Talent Lost group crossed the barrier of obtaining more than 25 years’ experience which keeps increasing with age, yet are unemployed or underemployed in growing numbers.
Only this time, it’s also the first service worker generation, unlike previous manufacturing worker generations when faced with aging, they could at least understand their physical work ability declined considerable; the brain does not slow up in fact this is the time when wisdom starts, increasing your critical thinking and decision making abilities.
A great worker at 25 years old will be an exceptional worker at 55 years old. If you have passion for what you do, coupled with exceptional ability and you have progressively practiced your profession for 25 + years, you are indeed very serious at your craft.
The employment value of Talent Lost members has been overlooked for some time, because of the traditional manufacturing labor perception within companies and organizations, but that needs to change. In today’s competitive global labor market, the advantages of service sector labor lies within the human element, experience, wisdom and the superior ability to solve problems and adapt. All qualities Talent Lost members possess.
There are multiple reasons for the Talent Lost group’s existence. It is a combination of age discrimination, HR/Recruiter methods, H1B Visa’s, and US Trade Policies on tradeable services that have collectively reduced total available jobs.
Tradeable services affect other age groups besides Talent Lost members. Entry level professional services are an easy target for being performed by their counterparts in non-developing nations where costs are cheaper.
The cycle starts with the job process being perfected domestically then moved off shore for long term reduced operational and labor costs, that trend has been happening for over 15 years.
The assault on the US labor market can only be stopped by government intervention. This is not economic protectionism but economic labor rate equilibrium throughout the world economies. This is necessary to maintain the sovereignty and stability of all advanced industrialized nations.