Mature Market Experts

Mature Market Experts: More news and stats you can use on boomers, seniors and the mature market – US  Companies Are Unprepared for Baby Boomer Retirement from Workforce. An overwhelming majority of surveyed domestic companies are unprepared for the exodus of boomers from their companies, according to a recent study by Sloan Center on Aging & Work at Boston College, The Pressures of Talent Management. The sudden loss of this pool of experienced talent is sure to throw a wrench into future productivity, unless these companies develop coping strategies. Seventy percent of these firms report not knowing the age of their employees, nor their retirement plans. Forty percent believe retirement of this population will have detrimental effects on their business. The 696 firms studied account for approximately seventy-five percent of the jobs and payrolls in the U.S., employ more than one million workers, and represent the ten leading sectors of the economy. Fifty-six percent of these companies had not assessed the skills they will need. Co-author Marcie Pitt-Catsouphes, director of the Sloan Center on Aging & Work states “The out-migration of a generation of workers will upset the entire balance of the workplace,” “U.S. companies need to start planning strategically for workforce sustainability. The current abundance of older worker talent and experience is going to dry up, and businesses will very soon need to fill hundreds, if not thousands, of jobs.” Some economists expect a shortage of 10-15 million workers in the coming decade. For more info click here.

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