It's been predicted that 78 million baby boomers will retire over the next 25 years, and the devastating effects will be felt around the world. If you've not heard about the baby boom crisis here's what people have been saying and experiencing since 2003.
A group of researchers in Finland produced a report back in 2003 called, "Preparing for the Labour Market Change, Caused by the Baby Boom Generation". It says that from 2010, the population will start to decrease, and by 2030 will have decreased by about 400,000 people, and that labour capacity will continue it's downward trend through the 2010s, with 30,000 people walking out the door every year. And to make matters worse, we don't have the young people to replace them.
But Kevin Coyne, lead researcher of Coyne Partnership Inc., recently contradicted these predictions. He claims that there's no real "crisis", and that this baby boom thing is "much ado about nothing".
US Nations Chief Accountant David M Walker, would certainly disagree with Coyne. Walker has stated on more than one occasion; the baby boom crisis is coming, and will have a devastating affect on the US economy in the foreseeable future.
But with so much hype comes complacency, a "it won't happen in our company" syndrome, and due to this, very few companies are doing anything to get ready for the looming human capital crisis. They think that the crisis will pass them by, and that hiring and firing will be "business as usual".
Hiding ones head under the duvet, and thinking this won't happen to you is crazy thinking. And even if it doesn't happen to you, it will certainly affect the companies you serve, which means it will effect you, one way or another.
If the figures are correct, this is a quick peak at what could happen in the next two years.
Clients will start "freezing" their services to concentrate on keeping their company above water. You could also find your client base slowing dissolving into thin air as companies slowly go under.
Fulfillment agencies, will feel the heat the most. As finding the right person for the job will become even harder than it is now. It's estimated that things will certainly grow worse in this area, before it improves.
Boomers leaving the workforce is nothing new, but to be able to survive the brain drain that will occur means companies will need to start putting a marketing plan into action now. The 3 strategies are to:
-- Appreciate the deeper ramifications the crisis could bring you -- Develop a solid consumer profile -- Focus on creating client loyalty
Forward thinking companies who want to survive and thrive in 2008 and beyond, have no choice but to start preparing right now, and these three marketing tactics are the way to go.
A group of researchers in Finland produced a report back in 2003 called, "Preparing for the Labour Market Change, Caused by the Baby Boom Generation". It says that from 2010, the population will start to decrease, and by 2030 will have decreased by about 400,000 people, and that labour capacity will continue it's downward trend through the 2010s, with 30,000 people walking out the door every year. And to make matters worse, we don't have the young people to replace them.
But Kevin Coyne, lead researcher of Coyne Partnership Inc., recently contradicted these predictions. He claims that there's no real "crisis", and that this baby boom thing is "much ado about nothing".
US Nations Chief Accountant David M Walker, would certainly disagree with Coyne. Walker has stated on more than one occasion; the baby boom crisis is coming, and will have a devastating affect on the US economy in the foreseeable future.
But with so much hype comes complacency, a "it won't happen in our company" syndrome, and due to this, very few companies are doing anything to get ready for the looming human capital crisis. They think that the crisis will pass them by, and that hiring and firing will be "business as usual".
Hiding ones head under the duvet, and thinking this won't happen to you is crazy thinking. And even if it doesn't happen to you, it will certainly affect the companies you serve, which means it will effect you, one way or another.
If the figures are correct, this is a quick peak at what could happen in the next two years.
Clients will start "freezing" their services to concentrate on keeping their company above water. You could also find your client base slowing dissolving into thin air as companies slowly go under.
Fulfillment agencies, will feel the heat the most. As finding the right person for the job will become even harder than it is now. It's estimated that things will certainly grow worse in this area, before it improves.
Boomers leaving the workforce is nothing new, but to be able to survive the brain drain that will occur means companies will need to start putting a marketing plan into action now. The 3 strategies are to:
-- Appreciate the deeper ramifications the crisis could bring you -- Develop a solid consumer profile -- Focus on creating client loyalty
Forward thinking companies who want to survive and thrive in 2008 and beyond, have no choice but to start preparing right now, and these three marketing tactics are the way to go.
About the Author:
Are you ready for the baby boom crisis? Then get Celine Horan's free impact report now! Celine Horan is a niche marketing strategist, sales catalyst and expert who offers ROI boosting agency level copywriting services to the professional development industry.
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