Wednesday, December 27, 2006

Experienced Boomers Retiring - Who'll Take Over?

Workforce shortages in various fields are already being predicted. Since baby boomers are beginning to retire, companies are faced with trying to replace experienced managers. It's been reported that the cohort just behind the Baby Boom generation, those roughly age 20 to 35, is significantly smaller -- about 16 percent fewer people -- than the group age 35 to 50. Some boomers may choose to work longer, and will most likely be healthy enough to do so. Those companies who have not already taken steps to manage the succession of leadership will undoubtedly suffer. Some areas of shortages are predicted in the power business, the medical field (nursing and healthcare), and middle management in many fields.