The 78 million-strong population of Baby Boomers currently represents as much as 40% of the American workforce. All, or most of these boomers are unlikely to look at complete retirement at the age of 65 and as many as seven in ten of the boomers who are eligible for retirement actually plan to work far past age of retirement or never retire at all. However, the Bureau of Labor Statistics says, that the total rate of growth of the workforce is on the decline. It will go from 12%, which is the current growth rate, to a mere 4% in the decade leading to 2020. In the very near future, employers will find that it has become crucial to hire, and keep mature workers happy within the organizations and the workforce.
However, it would astound the prospective employee to know that in spite of all this highly publicized research and the available statistics, 80% of companies have failed to make any changes in the organizational structure or work atmosphere to make special provisions available for Baby Boomers and older adult workers. This state of affairs needs to undergo a rapid sea change if these companies want to retain their competitive edge, minimize the impact of the declining workforce growth on their businesses, and if they wish to be seen as employers who are friendly to the increasing number of older workers.
By the same token, the over-50 candidate who is looking for a new job can improve his/her chances of landing the job they want by becoming more knowledgeable about the coming labor shortage, making sure they are the right choice, and demonstrating to prospective employers the fact that they can match and support the evolving needs of the company.