It’s no secret that small businesses are having a tough time locating workers due to low unemployment and the impending baby boomer exodus. So that means if you need help, it’s time to get creative. According to a study by AARP about aging baby boomers and retirement:
Workforce demographic data for large employers sponsoring U.S. pension plans show that almost one in five workers in these companies is retirement-eligible today, and another third will become eligible to retire over the next 5-10 years. Replacing an experienced worker of any age can cost 50% or more of the individual’s annual salary in turnover-related costs, with increased costs for jobs requiring specialized skills, advanced training or extensive experience-qualifications often possessed by 50+ workers.
That’s good news for your small business. As these folks leave the corporate umbrella you can tap into their rich source of experience and dedication. One of the best ways to learn how to do that is to take a look at The Business Case for Workers Age 50+: Planning for Tomorrow’s Talent Needs in Today’s Competitive Environment.