The Power of Older Workers

A surge of titanic proportions is about to sweep through American businesses as 80 million skilled and experienced baby boomers reach retirement age. Departing the work force at a rate of four million per year until 2024, this loss of seasoned workers will create an undertow in every sector. Retirees take with them networks of professional contacts, specific skill sets, and organizational knowledge. In addition, employment numbers for the 16 to 25 age group are projected to decline between the years 2006-2016, and among those 25 to 54, there will only be a slight rise. As the labor force shrinks, hiring retirees can be the key to success.

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