From “Herman Trend Alert,” by Roger Herman and Joyce Gioia, Strategic Business Futurists.
GREENSBORO, NC — No, the “Baby Boomer” generation is not going to retire en masse. In fact, most people in this important generational group, born from 1946 to 1964, will not retire for many years. We expect these workers to remain in the job market — full-time, part-time and flex-time into their seventies, eighties and even nineties. The incentives for them to continue working are growing.
An important incentive for the Boomers in the United States, and abroad is their own value set. With a belief that being productive members of society is a good thing, they want to continue making a contribution through their work — as employees and as volunteers. There are two other critical factors that will motivate workers now in their forties, fifties and sixties to stay in the workforce. One is the need for income — particularly among those who have lost money in the stock market and through the unfunding of some pension plans. The other motivator is opportunity — a growing need for skilled and educated workers spurred by economic growth. Faced with an insufficient supply of qualified workers, employers will eagerly recruit older employees.
Workforce shortages are causing serious problems for many types of employers — including in healthcare and information technology. Another vital concern is a teacher shortage. Teachers are leaving the profession, driven by frustration, feeling unsupported, or a desire to teach instead of dealing with behavioral problems and periodic testing. Too many school districts have resorted to placing non-certified workers — even some without college degrees — into teaching positions.
Local school officials will become more creative over the next few years, as they seek ways to attract and hold the quality of teachers needed by today’s fast-thinking, multi-tasking, highly demanding students.
The State of Florida has found a solution. Teachers in that state are encouraged to retire to start their pension income, then return to teaching and again collect their salary. The benefits of the extra income are obvious, as are the benefits of retaining experienced teachers. The opportunity for teachers gets even better: They can even earn a second retirement if they work for six more years.
Copyright 2005 by The Herman Group — From “Herman Trend Alert,” by Roger Herman and Joyce Gioia, Strategic Business Futurists. (800) 227-3566 or www.hermangroup.com.
The opinions expressed in “Herman Trend Alert” articles appearing on aftermarketNews.com do not necessarily reflect the opinions of AMN or Babcox Publications.
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