Age and Opportunity: Plan Strategically to Get the Most Out of a Maturing Workforce
As the worldwide elderly population grows significantly, the workforce is shrinking. The rate of U.S. workforce growth was 30 percent in the 1970s, but is projected to be only 2 to 3 percent in 2010 and beyond. Not all sectors or companies will be affected equally; however, even collecting data reliable enough to assess your company’s situation can be fraught with potential legal obstacles. Managing a maturing workforce is an opportunity for change. But it requires analysis of the current workforce, gap analysis between projected supply and demand, and a plan for closing the gap.