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How employers are dealing with the retirement of the baby boomers - Research Paper Example

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This paper covers how employers are responding to the retirement of baby boomers including employee retaining and sustaining, change…
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How employers are dealing with the retirement of the baby boomers
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Download file to see previous pages However, it is important to note that knowledge is a concept that is multi-dimensional and its value can only be determined by circumstances, so employers are faced with a very complex problem in solving the problem (Datta, Guthrie, Basuil & Pandey, 2010). Management consultants have raised a number of concerns stating that baby boomers are presenting a very complicated problem to employers. Research studies reveal that employers are going to experience and impending mass exodus of employees and this will have a very serious effect on the operation of organizations than never before. The reality is that baby boomers have played an integral role in the success of organizations and they will be retiring in large numbers than never before. As baby boomers will are living their organizations, employers have been conducting careful examinations of the consequences of their exit and have formulate a number of necessary steps to ensure that there has been a smooth transition.
By 2010, baby boomers were 48-66 years of age and were retiring from their employment positions. The consequence of the mass exodus was that the government’s entitlement programs and pension plans were strained. However, there was a sudden concern over vacant positions that were as a result of the mass retirements of baby boomers. In the United States, a recent research study revealed that more than 25 percent of businesses in the country have done very little with regards to planning for the effects of mass retirements of baby boomers. The study also predicted that it is expected that there will be significant changes in the workforce demographics of different industries (DeRue, Hollenbeck, Johnson. & Jundt, 2008). This is based on the fact that baby boomers are expected to retire in increasing numbers over the next twenty years. Researchers conducted a survey on 578 organizations in the United States and reported that only 33 percent of ...Download file to see next pagesRead More
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