Nearly one out of every two senior executives (47%) surveyed said baby boomer retirements will have the greatest impact on the workforce over the next decade, according to Robert Half International. The survey contains information from 150 senior executives from the 1,000 largest companies in the U.S.
Executives were asked, "Which of the following trends do you think will most significantly alter the workforce in the next decade?" Their responses:
- Baby boomer retirements -- 47%
- Global business interactions -- 31%
- Outsourcing -- 11%
- Remote work arrangements -- 5%
- Other -- 5%
- Don't know -- 1%
"The looming retirement of baby boomers has captured the attention of business leaders who are concerned about retaining the expertise of their most tenured employees," said Max Messmer, CEO of Robert Half International and author of Human Resources Kit For Dummies. "Fortunately, many baby boomers are considering working past the traditional retirement age to stay active and continue earning."
Messmer added, "Businesses that accommodate valued staff members who are not ready for retirement but seek new work arrangements, such as flexible or part-time schedules, are best able to keep top performers. Consulting arrangements allow experienced individuals to remain challenged professionally while maintaining the flexibility to pursue outside interests."