Unprecedented shifts in the age distribution and diversity of the global labor pool are underway. Within the decade, as the massive boomer generation begins to retire and fewer skilled workers are available to replace them, companies in industrialized markets will face a labor shortage and brain drain of dramatic proportions. Ken Dychtwald, Tamara Erickson, and Robert Morison argue that companies ignore these shifts at great peril. Survival will depend on redefining retirement and transforming management and human resources practices to attract, accommodate, and retain workers of all ages and backgrounds. Based on decades of groundbreaking research and study, the authors present innovative and actionable management techniques for leveraging the knowledge of mature workers, re-engaging disillusioned mid-career workers, and attracting and retaining talented younger workers. This timely book helps organizations sustain their competitive edge in tomorrow's inevitably tighter labor markets.
News and Resources for Managing the Aging Workforce BOOKS & RESOURCES
Workforce Crisis: How to Beat the Coming Shortage of Skills And Talent
The Older Worker Advantage: Making the Most of Our Aging Workforce
November 2005. By Gordon F. Shea and Adolf Haasen. From the publisher:
Recently published figures predict that the number of employed individuals between the ages of 55 and 64 will increase by 11 million by 2010; on average, today’s 65-year-old can expect to live to 83. This book tackles the issue of the aging workforce head on, taking into account both the organization’s/ manager’s point of view and the older employee’s point of view. Gordon Shea and Adolf Haasen, experts on corporate culture and management development, consider the broad demographic trends that are changing the makeup of organizations, and then provide specific approaches for managers to adopt in order to ensure that older employees are engaged and challenged while contributing to the company’s bottom line.
The 2010 Meltdown: Solving the Impending Jobs Crisis
September 2005. Edward E. Gordon. From the publisher:
"It's the economy, stupid," is a refrain the United States will never live down, and not without reason. The relentless march of technological development and globalization continues to put pressure on all national economies, providing opportunity for some and marginalization for others. Around the world, nations will need to overcome twin economic shocks: a wave of baby boomers will retire and leave the workforce, while too few young, well-educated people will be available to fill a rising tide of high-skill, technology-related jobs. Ed Gordon marshals vast amounts of data to illustrate how these trends are quickly converging, creating a labor vacuum--with potentially disastrous consequences for economic competitiveness and individual opportunity. In The 2010 Meltdown, Gordon sounds a wake-up call to business leaders, policymakers, educators, and concerned citizens, employees, and parents--anyone with a stake in our economic future.
The Aging Workforce: Realities, Myths, and Implications for Organizations
September 2005. By Jerry W. Hedge, PhD; Walter C. Borman, PhD; and Steven E. Lammlein, PhD. From the publisher:
The Aging Workforce examines the changing demographics of the workforce, and their impact on the world of work. The numbers and proportions of older individuals in the U. S. population are increasing. Most organizations are ill-prepared to meet the challenges associated with older workers, and little research has addressed the development and implementation of effective human resource management practices for an aging workforce. The "graying of America" requires that we give more attention to both the problems and potential of an older workforce. Consequently, the book focuses on issues related to work life and aging. Without being particularly academic, the book provides a "state-of-the-science" perspective on what we know about issues related to the older worker, thus providing a foundation for confronting the challenges facing the workforce of the future. The Aging Workforce pulls together research findings relevant to individual older worker performance and motivations, as well as offers discussion related to how best to manage the older worker
Assessment and Promotion of Work Ability, Health and Well-being of Ageing Workers: Proceedings of the 2nd International Symposium on Work Ability held in Verona, Italy between 18 and 20 October 2004
At present we are looking at increased life expectancies and prolonged periods of employment. The aged workforce as a natural result of this phenomenon presents society with great challenges. At the 2nd International Symposium on Work Ability held in Verona, Italy between 18 and 20 October 2004 this problem was scientifically addressed. This book Assessment and Promotion of Work Ability, Health and Well-being of Ageing Workers contains the majority of papers presented here. The book reflects the major themes of the meeting which are factors affecting work ability and employability of ageing workers, assessment of work ability in different occupations, Evaluation of work-related problems of ageing workers and promotion of health and work ability. You will find very useful information and examples of methods, research and ongoing interventions.
Lost Knowledge: Confronting the Threat of an Aging Workforce
September 2004. By David W. DeLong. From the publisher:
Executives today recognize that their firms face a wave of retirements over the next decade as the baby boomers hit retirement age. At the other end of the talent pipeline, the younger workforce is developing a different set of values and expectations, which creates new recruiting and employee retention issues. The evolution from an older, traditional, highly-experienced workforce to a younger, more mobile, employee base poses significant challenges, particularly when considered in the context of the long-term orientation towards downsizing and cost cutting. This is a solution-oriented book to address one of the most pressing management problems of the coming years: How do organizations transfer the critical expertise and experience of their employees before that knowledge walks out the door? It begins by outlining the broad issues and providing tools for developing a knowledge-retention strategy and function. It then goes on to outline best practices for retaining knowledge, including knowledge transfer practices, using technology to enable knowledge retention, retaining older workers and retirees, and outsourcing lost capabilities.
Doing Nothing is NOT an Option! : Facing the Imminent Labor Crisis
December 2004. By Robert K. Critchley, Drake, Beam, & Morin, Inc. From the publisher:
In the next 20 years, citizens over the age of 65 will outnumber children for the first time. America's labor force is not only growing older, it's also ushering in a whole new set of work force issues to tackle--including an impending labor shortage. By 2010 there will be 169 million jobs in the United States, but only 159 million workers to undertake them--a 10 million worker shortfall! Exhaustively researched, masterfully written, and extremely informative--this book candidly and comprehensively lays out the statistics of the graying labor pool, the implications for business organizations, and suggested solutions and strategies. It helps organizations plan and position for the changing labor market, offering strategies to help companies effectively compete for the best and the brightest of the shrinking labor pool. It also explores how to leverage the strengths of older workers, slowdown strategies, phased retirement, rehiring, and much more. It's a must read for business owners, executives, HR professionals, consultants -- any anyone responsible for staffing and business strategy.
The New Workforce: Five Sweeping Trends That Will Shape Your Company's Future
October 2004. By Harriet Hankin, American Management Association. From the publisher:
The New Workforce gives you a clear picture of the rapid changes now underway—along with the steps required to attract and retain motivated, loyal, and productive employees. Based on a wealth of statistics, research, interviews, and firsthand experience, the book pinpoints five sweeping trends: (1) an increasingly aging yet active population--companies that can harness the power of these experienced and skilled employees will reap concrete financial benefits, (2) the decline of the nuclear family and the rise of alternative households, (3) four generations working side by side—with a fifth on the way: The Silent Generation, the Baby Boomers, Generation X, the Baby Boom Echo, and the newest entrants to the world—the Millennium GenerationÖ, (4) a workplace that is growing more diverse and more blended, and (5) the need for a “higher purpose” in the workplace. In addition to mapping the path from current needs to future requirements, The New Workforce supplies powerful ideas for radically revamping HR policies, recruiting efforts, compensation and benefits, and learning and training, including advice on: flexible scheduling in-house medical support double family leave telecommuting literacy tutoring sabbatical programs digital matching aptitude testing total-rewards strategies mentoring up and much more.
Don't Retire, REWIRE!
August 2002. By Jeri Sedlar and Rick Miners. From the publisher:
In research conducted by the authors, three out of four boomers said they hated the word retirement, and don’t ever plan on totally retiring. When asked about a retirement vision, many answered reading, traveling, doing volunteer, consulting and/or part-time work. Key was that whatever work they did it would be of their choosing---customized to their wants and needs, minus the 24/7 stress and pressure of their traditional work. People are motivated by personal needs that we call "drivers.” Their premise is that the energy we have, and the motivations that have driven us all of our lives DO NOT disappear with age. The book's purpose is to show readers that if they want to continue to have fulfilled lives they need to find activities, paid or free, where they get "driver” fulfillment,” and to preferably do so before they exit work. This need to rewire will hit both the celebrity types like Tom Brokaw and also the woman and man next door. Our mission is for you to create a great rewirement™ for yourself!