Monetary Needs Less Intense Due to Dual Income Households
“We’ve decided we prefer to have more time to ourselves,” says Carol Kornhaber, a New England software programmer in her late twenties. Kornhaber and her husband are both working but have sought out jobs where they are not pressed to put in long hours. Instead, they have insisted upon eight-hour days and having enough vacation time to travel, a major interest they share. Financial pressures are eased by both of them working and keeping a careful watch on their expenses. “We are lucky in a lot of ways to have found bosses who understand our needs.”
Burnout
Trying to squeeze more productivity out of workers may be nothing new, but it has become particularly acute in recent years. This has been due in large measure to recession-induced layoffs and other trends such as the rising cost of healthcare benefits. After a layoff, workers who remain behind are often asked to pick up most or even all the load of the people who were let go, requiring more and more hours at the office. As new corporate initiatives are planned, the inverse is also true. As Sumser observes, “the additional workload, which runs across the economy from the office worker to the manufacturing line, seems to be a function of the cost of benefits. The regulations make it cheaper to add workload for existing employees than to hire new players.” The Families and Work Institute reports that nearly one third of U.S. employees often or very often feel overworked or overwhelmed by how much work they have to do. Nearly three out of four report that they frequently dream about doing something different from their current job.
Show Me the Money
Overworked or not, the majority in the Salary.com poll still chose to fatten their paycheck if given the choice. For many, it was a practical matter. Says Peggy Jones, an accountant in a Boston area business services company, “I already get three weeks a year that I can’t use up because I’m so busy. I’d definitely go for the extra money to pay some bills or make a big purchase I’ve been holding off on.” For Jones, the realities of running a household and saving up for college for her children simply need to take precedence over extra free time.
Companies Are Already Responding
To many human resources experts it is inevitable that, given the growing health of the economy and the upcoming population-driven labor shortages as the Boomer Generation moves into retirement, the pendulum of control in the employee-employer relationship will swing back to the employee side. That is expected to begin in just a few years. According to human resources expert, Larry Schumer, at Salary.com, “since most companies succeed based on a motivated and capable workforce, they have offered and will continue to offer more paid flexibility, whether it be through tried and tested time-off programs or the next great idea.” Where will that new balance of employer versus employee needs lie? Time, or perhaps time off, surely will tell.
1. Which of the following has been rising in importance in the past few years?
A) Compensation. B) Time off. C) Right to vote. D) Staffing levels.
2. According to the passage, we know that the Boomer Generation is concerned ________.
A) about family and work equally B) more about work
C) more about family D) about neither work nor family
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