The S-AGE’s 2009 Workforce Predictions

Most Boomers, at least in the private sector, will increase their efforts to stay in or return to the workplace. According to The Congressional Budget Office retirement accounts have lost $2 trillion (yes, that’s $2,000,000,000,000) in the past year and a half. The Employee Benefit Research Institute states that 401(k) average losses hovered right around 10% (our wizard colleagues think this estimate is low).

An increasing number of people will look toward career planning/management of their mid to later life careers as central to maintaining their sustainability in the workforce. The employed will seek career planning help from their employers. The unemployed will self-fund their learning experience or struggle to learn how to plan on their own – just as many have struggled to learn how to save! All will come to realize that Financial Advisors/Planners do little good if there is no work to provide income for savings and investments. Read our first book, Boom or Bust!, for expert help in setting the stage for your mature career planning.

Smart Boomers will learn how to leverage the advantages of maturity in hard economic times. For instance, Gary Kaplan and Associates (a leading executive search firm in Southern California) supports the premise that battle-proven business warriors may be the best of all generations at managing through and weathering hard economic times. Why? Because mature workers are the only generations in the workforce that have experienced both the good times of economic growth and the really hard times of economic uncertainty. While you are seeking advantages for your mature career, be certain to be ready to debunk the many myths about age and work. Ageless in America’s myth cards debunk widely held myths about mature workers and make a strong factual case for hiring, developing and retaining Boomers. Remember that it is the smart people who identify their advantages and use them liberally.

Many Boomers will realize there is a gap between what they know and what they need to know in terms of working later in life and they will “flock” to school – on line and in person. This is the year when lifelong learning will really begin to mean “lifelong” – and recently gained high level skills and competencies will be increasingly valued. For Boomers who would like to scale back to part-time work, start a business or work on a project basis instead of retiring completely, a portfolio of current skills/competencies will become a “must have” if they are to overcome hard times now and thrive in good times later.

Some Boomers with limited skills will find themselves out of work and out of contention for work. The economy will continue to lose jobs in 2009 and only the highly competitive people will thrive.

The Bottom Line in ‘09?
Only those Boomers who continue to learn and strive for their
right to compete in the future will succeed in the present.
The S-AGE’s 2009 Workplace Predictions

Age discrimination claims will continue to rise. As people become more fearful, as early retirement packages continue to be proffered and accepted, as sheer masses of older workers are rejected in the hiring process; age discrimination claims will continue to rise. Google this subject! You’ll soon see that more and different types of age discrimination claims should be expected in 2009 based on the activity in 2008.

The growth rate of mature workers will continue its rise from 2004 to 2014 according to the U.S. Bureau of Labor Statistics. Growth for employees in the 35-44 year old range will increase by 8%, the 45-54 age range will grow by 5% and employee growth in the 55-64 year old range will rise by 42%. Organizations that help mature workers to thrive will have a competitive advantage beginning in 2009.

Organizations will seek mature workers but they will raise their expectations for employees’ commitments to their own professional/personal growth. During the recruiting process, recruiters will pose questions and probe applicants about their recent learning experiences. During the performance management process, employers will measure what employees have learned as well as what they have accomplished. Increasingly, employers will make decisions to keep or release people based on proven commitments to self-learning.

Team projects and special assignments will grow and older individuals, such as Traditionalists (born before 1946) who have specialized in one or more areas of high-need will have their choice of assignments whether or not they are engaged as full-time, part-time or just-in-time contributors.

Organizations will become ever more flexible. The greatest opportunities may always be found during the worst of times. Planning, organizing and leading an increasingly flexible workforce is beginning to take front and center stage in many organizations. This trend will accelerate in 2009. Boomers and Traditionalists who are prepared to compete will have their choice of opportunities in all areas of the flexible organization.