America's Aging Workforce

Experts estimate that by 2020, one in three workers will be 50 or older. Additionally, many of America's Baby Boomers, a third of the workforce, are set to retire by the end of the decade.

In today's global environment, employees are discovering that career skills developed earlier may becoming obsolete. Baby Boomers have to be open to career training to change careers or reenter the workforce .

Companies are tackling employee recruitment and retention to make sure they access and keep the top talent they need to succeed moving forward.

In a recent survey, Career Builder looked at one of the strategies that retail employers use to maintain their workforce. Nearly 19% of retail employers reported concern over the loss of intellectual capital at their organizations as a large number of workers transition from careers into retirement. Employers are increasingly attracted to the retired worker.

The survey reported that 28% of retail employers are likely to rehire retirees from other companies in 2008. This they say is due to a shortage of qualified workers.
Eleven percent of these retailers planned to provide incentives for workers at or approaching retirement age to continue their careers with the company.

What's your company doing?