The study elicited these interesting responses:
- the average age the baby boomers surveyed said they planned to stop working was 69.8, 1.8 years younger than the average projected retirement age that working participants in the 60-70 age group suggested,
- 65% of boomer surveyed said they hope to find new lines of work,
- 25% of the older survey participants who had looked for work after turning 65 had trouble finding jobs,
- the most serious human resource issues of employers surveyed were 65% rising cost of benefit programs, 47% retaining labor or recruiting and training younger workers and 7% cited “retaining older workers”,
- 31% of employers surveyed admitted to giving much though to the impending boomer retirement.
I can understand employer’s lack of interest in boomer retirement considering the wave will not hit them for at least another 5-10 years but they should still be cautious. Once the mass boomer retirement begins employers will be in desperate need of skilled and experienced workers to replace boomers. Setting in motion some post boomer plans could reduce the coming shock.
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