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Baby Boomer Retirements Most Significant Workforce Trend in Next 10 Years

Baby Boomer Retirements Most Significant Workforce Trend in Next 10 Years

There are likely to be a number of issues shaping the future of the workforce, but for today's companies, one stands out above the rest: more than half of senior executives (60 per cent) surveyed said baby boomer retirements will have the greatest impact on the workforce over the next decade.

The survey was developed by Robert Half International, the world's first and largest staffing services firm specializing in accounting and finance. It was conducted by an independent research firm and includes responses from 100 senior Canadian executives.

Executives were asked, "Which of the following trends do you think will  most significantly alter the workforce in the next decade?" Their responses:

    Baby boomer retirements........................... 60%
    Global business interactions...................... 15%
    Outsourcing.......................................  9%
    Remote work arrangements..........................  7%
    Other.............................................  8%
    Don't know........................................  1%
                                                      ----
                                                      100%

"The looming retirement of baby boomers has captured the attention of business leaders who are concerned about retaining the expertise of their most tenured employees," said Max Messmer, chairman and CEO of Robert Half International and author of Human Resources Kit For Dummies(R), 2nd Edition (John Wiley & Sons, Inc.). "Fortunately, many baby boomers are considering working past the traditional retirement age to stay active and continue earning."

Messmer added, "Businesses that accommodate valued staff members who are not ready for retirement but seek new work arrangements, such as flexible or part-time schedules, are best able to keep top performers. Consulting arrangements allow experienced individuals to remain challenged professionally while maintaining the flexibility to pursue outside interests."

Robert Half International has more than 350 staffing locations in North America, South America, Europe and the Asia-Pacific region, and offers online job search services at http://www.rhi.com/.

EDITOR'S NOTE: To schedule an interview for local commentary in Montreal, Toronto, Calgary, Edmonton or Vancouver, please contact Jason Chapman at 416-350-2330 extension 62070.

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