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Written by Celine Horan
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Tuesday, 30 September 2008 01:39 |
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Since the turn of the century, it has been estimated that 78 million boomers will leave the workforce by 2033. And it's predicted that the repercussions will be felt worldwide. Here's what people have been saying about this phenomenon, if you've not heard about it.
by CelineHoran
Since the turn of the century, it has been estimated that 78 million boomers will leave the workforce by 2033. And it's predicted that the repercussions will be felt worldwide. Here's what people have been saying about this phenomenon, if you've not heard about it.
The Ministry of Labour in Finland created a report called, 'Preparing for the Labour Market Change Caused by the Baby Boom Generation'. It calculated that after 2010 the population will begin to reduce and starting in 2030, it will go down by 400,000. This equates to approximately 20,000 people each year. Labor aptitude will also reduce after 2010 at a rate of 30,000 people each year. And the worst of it is, there will not be enough young people to replace them.
But Kevin Coyne, lead researcher of Coyne Partnership Inc., recently contradicted these predictions. He claims that there's no real "crisis", and that this baby boom thing is "much ado about nothing".
But David Walker would disagree. He's on record as saying that the mass exodus of baby boomers however fast or slow, will still have an effect on the US's financial system whether they like it or not.
With so much publicity on the topic comes a lot of opinions and reactions. Some companies are doing something about the problem but many are not.
Pretending that nothing will change, or that the change will not have an effect on the marketplace, may not be wise. And even if it doesn't effect certain industries, can you say with all honesty, that it won't effect some of your client base, which in turn will effect you anyway?
If the numbers are right, then the future might look something like this in as little as eighteen months.
Customers start withholding business to focus all their energies on preventing their organization from going under. Others will find their once healthy customer list, gradually fading away as a number of their clients go bust.
For recruitment companies, pressure will be fierce to replace lost human resources and will have to work doubly hard to fill the gaps - which won't be easy. In fact it's predicted that things will get worse before they get better.
Boomers retiring is inevitable, there is nothing we can do about that. But to survive this crisis, smart companies can start preparing for it NOW. The three tactics are to:
-- Understand how the looming human capital crisis could effect you -- Build a strong customer outline -- Design a razor-sharp marketing offensive towards building long term alliances
Smart companies who want to thrive now and way into the future, have no option but to start preparing for the overwhelming loss in human capital now, by putting into place a focused marketing campaign.
About the Author:
Ready for the babyboom crisis? Then get Celine Horan's free impact report now! Niche
Marketing stategist and business to business copywriter for the e-learning and professional development industry. You can get a unique content version of this article from the Uber Article Directory. |
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