Map your workflow before the Baby Boomer workers retire

What's going to happen when we no longer have experienced, skilled people to plan, manage, operate, maintain and support our enterprises?

PlantServices.com

By Keith Mobley, CMRP

American business is facing a massive number of worker retirements during the next decade. By 2010, according to the Bureau of Labor Statistics, the population of workers older than 65 will increase by 30%, and the number of those between 55 and 64 will rise by 52%. In the same period, the number of workers aged 35 to 44, the logical replacements for retiring workers, will decrease by 10%. Further compounding this growing problem, the younger segment of the workforce is expected to increase by less than 23%. These demographics, confirmed by the Employment Policy Foundation, clearly define a growing problem that may signal the end for many American businesses.

One would think that the effects a loss of 50% to 70% of an aging workforce will have on corporate survival rates would be a serious concern to most companies. Apparently, this isn’t the case. A 2003 survey conducted by the Society of Human Resource Management indicates that less than half the companies surveyed were aware of the aging workforce problem. Thirty-five percent reported not being aware of the growing problem, 35% were just becoming aware, and fewer than 7% had taken any positive actions to mitigate the problem.

So, what’s going to happen when we no longer have experienced, skilled people to plan, manage, operate, maintain and support our enterprises? No problem, right? We’ll simply fall back on our detailed and effective processes, procedures and practices, hire some new workers and continue business as usual.

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