The baby boomer population continues to age, heading towards retirement. Admittedly a large contingent of the workforce, baby boomers have managed to change the face of the workplace through innovations and technology. Today they are beginning to face the years before retirement. Business executives are aware of the approaching exodus of workers, but are they prepared?
In a survey done by AARP and published in 2006 business executives and managers expressed an understanding of the fundamental shifts in the workplace as the baby boomers approached retirement age. There were very few however that had taken action to ease the impact on the company.
79% of the executives agreed that the experience that older employees will take with them when leaving the company can hurt the business financially. And another 74% believed that it is becoming more and more difficult to find and retain talented employees.