collectiveSome

collectiveSome
Corporate Heresies, Technology Rants, Personal Observations

Friday, September 26, 2003

a demographic tsunami is about to hit the workplace!

For years I've been hearing headhunter- and career-coach- friends mutter about changing workforce demographics. A few months ago I thought it about time to look into the subject.

Once again the story revolves around Baby Boomers.

My generation.

Those of us in this historically unique population bulge that have repeatedly left a mark on the nation's psyche -- are about to start leaving their jobs. The oldest boomers are checking their retirement plans right now.

In terms of a sense of corporate knowledge continuity, in terms of senior management expertise that's in-house -- there's a massive 'die off' set to begin in three or four years.

Companies will find themselves in a dilemma of tragic proportions. Should they rid themselves of this demographic bulge that's starting to slow the advancements of Gen X colleagues? Should they retain these 'Young-Seniors' to maintain some kind of continuity of expertise by way of more flexible work arrangement? What's the balance? What are the tradeoffs?

How companies play this game will be one of *the* most critical arenas in the next 15 years.

All of our smarts need to applied to figuring this one out. What processes do companies need to be thinking of - today - for the certainty of turbulence ahead? What do companies need to offer? What are the best policies, what are the enabling tools? Issues of recruitment. Of retaining people. Of ongoing education and re-training. Issues of employment assessment and compensation.

Great, great big questions.

Who has the answers?

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One of the bits of info worth looking at to look at the demographic stuff is a booklet from The Hudson Institute, "Workforce 2020".

Workforce 2020 : Work and Workers in the 21st Century
by Richard W. Judy, Carol D'Amico

Editorial Reviews

William E. Brock

It’s a wake-up call in the same way “A Nation At Risk” sounded the alarm for education reform...

Book Description

Ten years ago Hudson Institute's landmark study Workforce 2000 set the agenda for a new understanding of workforce issues. Described by the New York Times as "one of the most influential studies ever produced by a think tank," this groundbreaking report set the terms for much of the policy discussion at the government and corporate levels on these issues. It was the first to call attention to the changing demographics of the American workforce and the growing gap between the skills likely to be required for entry-level jobs in the future and those likely to be possessed by new entrants into the labor force.

Now Hudson releases its long-awaited follow-up: Workforce 2000 Revisited. Like its predecessor, the new book examines the trends that shape the economy and workforce, and combines them into a unique and fresh body of analysis. The authors set the record straight on the demographic makeup of the workforce in the years 2000 to 2020 and challenge the conventional wisdom on trends affecting American workers and employers. Analyzing important emerging issues, they detail the coming demographic changes in the workforce--and their potentially serious effects on the job market and the economy as a whole.

The book also considers the effects of globalization on U.S. business and the American worker, the impact of rapid technological change, the "skills gap" identified in the earlier report, and the need for a new model of education, training, and employment services to prepare workers for the jobs of the next century.

Workforce 2000 Revisited is an indispensable guide to the next decade of workforce issues.

Hudson Institute Publication

About the Author

Carol D'Amico is a senior fellow at Hudson Institute and director of the Workforce 2000 Revisited Project. Richard W. Judy is an economist and senior fellow at Hudson Institute.

posted by Tom | 1:30 PM