Over the next few years, the aging population will lead to a 'retirement tsunami', with millions of baby boomers leaving the workforce within two decades. In Australia, the ratio of employed persons to retirees will be cut almost in half, falling from 5 to 2.5 workers for every retired individual, according to Treasury data. In the US, "baby boomers in a big lump are leaving the labor force," according to Andrew Chamberlain, chief economist at Glassdoor. In short, there won't be enough new talent entering the workforce to keep up with those leaving it.
Boomers
Posts Tagged Boomers
It is hard to go on line and not read an article, blog, post or tweet on Millennials. There is, if you will, Millennial mania.
It is true that Millennial employees are now about 1/3 of the workforce and that percentage is rapidly growing. But even I can figure out the math on this one: 2/3 of the workforce is composed of non-Millennials. There is another way to describe them: older employees.
October 8, 2015
On April 2, We Know Next chatted with the Executive Director of the SHRM Foundation, Mark Schmit on "The Aging Workforce."
In case you missed it, here are all the tweets from the chat:
April 2, 2014
The U.S. workforce – like that of many countries around the world – is aging. HR professionals and other business leaders are understandably growing increasingly concerned with how they will replace these exiting workers, especially those with high in-demand skills and education.
March 31, 2014
There has been lots of talk lately that companies are increasingly looking to hire older workers. But, which types of employers are actually doing the hiring and what kinds of jobs are they filling?
One way to answer those questions is by taking a close look at AARP’s recently released list of the 50 best employers for workers over 50. They are firms and organizations with programs to help retain, retrain and recruit older workers.
News Updates
November 1, 2013
In a video, three men from three different generations explain to three different audiences why they won’t share their wealth with relatives. Each uses the same words, tones and gestures, but it’s the oldest man whom viewers dislike the most, according to a poll of the audiences.
News Updates
August 9, 2013
Businesses of all shapes and sizes are currently experiencing changes in the makeup of their workforce – from alterations in the economic landscape, technological advances, globalization, and – for the first time in the U.S. - members of five generations working, living, buying, driving, and aging together with one another.
July 23, 2013
During the next 15 years the most skilled and senior employees at many companies will begin retiring in large numbers. Meanwhile, those same companies can’t expect their younger workers—especially talented Millennials—to stick around much longer than 36 months, if that.
Despite this coming double whammy, many companies have yet to reshape their office environments so they can recruit and retain the type of workers who can perform at the level that company executives have come to expect.
News Updates
July 16, 2013
Aaron Kesher, Principal Consultant for deepSee Consulting, explains how organizations can flourish by leveraging a workforce with a wide range of age groups.
Videos
September 13, 2012
Shaken by the realities of the Great Recession, American workers have adjusted their visions of retirement, according to the 13th Annual Transamerica Retirement Survey released in May 2012 by the nonprofit Transamerica Center for Retirement Studies. And most said they would switch jobs for a better retirement plan.
News Updates
May 30, 2012
The growing problem of long-term unemployment among older workers in the U.S. was the focus of a Senate Special Committee on Aging hearing on May 15, 2012. The hearing coincided with the Government Accountability Office’s (GAO) release of a report that found the number of workers age 55 and older who have been unemployed more than six months has doubled since the recession began in late 2007.
News Updates
May 24, 2012
"Every generation needs a new revolution.” – Thomas Jefferson
On May 16 at 3 p.m. ET, We Know Next conducted a lively and insightful #NextChat discussion on "Creating Generational Engagement with Reverse Mentoring" with Next Official Blogger, Microsoft's Ross Smith and his reverse mentor Prem Kumar.
Ross and Prem shared their experiences with reverse mentoring and explained how leaders should think differently about managing multiple age groups.
May 16, 2012
“Each generation imagines itself to be more intelligent than the one that went before it, and wiser than the one that comes after it.” – George Orwell
When your alarm goes off each morning, and you roll out of bed to schlep off to work, you are entering a community that’s unprecedented in human history (even if it doesn’t feel that way on a Monday).
May 9, 2012
Each generation imagines itself to be more intelligent than the one that went before it, and wiser than the one that comes after it. - George Orwell
Mentee perspective – Ross
I am 48 years old and started working on software before my mentor, Prem, was born. Prem’s research on Gen Y was intriguing, particularly his
recommendations around reverse mentoring, and I asked if he would be MY mentor a few years back.
May 7, 2012
Note: This series is based on the paper My Generation.
Generational and life-stage issues affect us both consciously and subconsciously every single day.
A survey by Lee and Hecht Harrison tells us that “70% of older employees are dismissive of younger workers’ abilities and nearly half of younger employees are dismissive of the abilities of their older co-workers”.
May 2, 2012
Despite improvements in the U.S. economy, the hangover effect from the 2008-09 recession and slow economic growth continue to erode employees’ retirement confidence and overall financial wellness, according to the PricewaterhouseCoopers 2012 Financial Wellness Survey.
Employees’ financial stress remains high: Overall, 61 percent of employees find dealing with their financial situation stressful, and more than half (56 percent) reported that their stress level related to financial issues had increased over the past 12 months.
News Updates
April 26, 2012
“We know caregiving is associated with loss of retention, reduced productivity and higher stress,” said Drew Holzapfel, director of global commercial development at Pfizer Inc. This impacts caregivers’ wages, Social Security and pension benefits over the course of their career at a time when they need to be saving for their own retirement, he explained. Additionally, it impacts organizations as they experience a loss of talent.
News Updates
April 16, 2012
There is an explosion happening all around us. We are getting grayer as a society - much grayer. As a result, organizations are faced with a diversity-related challenge. Younger managers, on a much broader level than ever before, are finding themselves in the position of having to supervise older subordinates.
April 13, 2012