Brewing Labor Crisis

12 February 2003--A warning from Ira Wolfe, one of the USA's leading workforce experts:

Between 2010 and the mid-2020s, 12,480 U.S. baby boomers will leave the workforce--every day.

Fifty-one percent of the workforce will be over 70 in 30 years and the number of employees under age 40 is insufficient to replace them.

Thoughts: While this data may seem irrelevant to your current pressing priorities, it should figure into your long-range thinking and planning. The implication: in less than a decade, the homegrown labor market could suffer from a serious undersupply. Now is the time to consider alternatives for meeting future demands, and think about laying the groundwork for attracting and keeping older workers on the payroll.

Likely issues for older, post-retirement age workers (who will work as much or more out of choice than necessity): part-time instead of full-time posts, health benefits, flexible schedules especially during summer and holiday months (prime time for family visiting), a sense that their employer is treats all employees humane and is broadly socially responsible...

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