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Retaining Knowledge And Expertise

By Purdum, Traci
Publication: Industry Week
Date: Monday, May 1 2006
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WORKFORCE SHORTAGE

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An aging workforce has manufacturers rethinking the roles of the boomer generation.

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EVERY DAY THIS YEAR 7,918 people will celebrate their 60th birthday, according to projections by the U.S. Census

Bureau. That works out to 2.89 million folks getting ready to either retire or rethink their work schedules. For manufacturers, it's time to offer choices to senior employees or risk losing years of knowledge and expertise.

What do older workers want from their employers?

"A lot of the things we talk about the Generation Y wanting are in complete harmony with what the boomers want in order to stay," says Suzanne Miklos, CEO of Cleveland-based Organizational Effectiveness Strategies, a consultancy that links business strategies with people strategies.

Specifically, older workers want to work fewer hours but still have a meaningful job responsibility. They don't want to be just a pair of hands; they want to make a contribution, according to Miklos.

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