The Time to Plan for the Coming Skills Shortage is Now

Making the most of a mature workforce Some 64 million baby boomers (over 40 percent of the US labour force) are poised to retire in large numbers by the end of this decade. In industries already facing labour and skills shortages, forward-thinking companies are recruiting, retaining, and developing flexible work-time arrangements and/or phased retirement plans for these workers (55 years of age or older), many of whom have skills that are difficult to replace. Such actions are putting these companies ahead of competitors who view the aging workforce largely as a burden putting strains on pension plans and healthcare costs.