Some employers are taking the aging boomer population seriously and banding together to come up with better solutions.
One of those groups is the Alliance for an Experienced Workforce, initiated by AARP. With more than 20 industry associations representing more than 5 million businesses, the focus is on finding strategies for recruiting and retaining workers over 50, says Emily Allen, director of work force programs for AARP in Washington, D.C.
''What we did was get some really high-level strategic thinkers in one room,'' Allen says. ''And they soon all realized they needed to be sharing information, and not working in silos.''
As part of a report for AARP, Towers Perrin found that ''replacing an experienced worker of any age can cost 50 percent 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.''
The report also found that since many Baby Boomers want to remain in the work force in some capacity, such as through phased retirement or part-time or seasonal work, it's up to employers to come up with solutions that satisfy both worker needs and employer demands.
Source: The Salt Lake Tribune, March 25, 2006, www.sltrib.com
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