Capitalizing on the New Mature Workforce

In: Public personnel management, Volume 36, Issue 4, p. 325-334

Abstract

We are heading toward a talent crisis of unparalleled proportions. In the latter decades of the 20th century, organizations enjoyed an abundance of young workers, fueled by the unprecedented baby boom that stretched from 1946 until 1964. In this century, the baby bust that followed the baby boom is creating a critical shortage of younger workers. At the same time, due to rising longevity and the aging of the baby boom generation, we are now experiencing an unprecedented growth in the numbers of mature workers. And yet, the vast majority of organizations persist in recruiting, training, engagement, and retention strategies that were created and designed for a youthful workforce. New demographic realities require a radical rethinking of our workforce strategies. In this century, the most successful organizations will be the ones that reorient their organizations and workforce strategies to fully capitalize on the powerful growth of the new mature workforce.