Companies ( and State agencies) may face exodus soon as boomers retire - 40% of U.S. labor force will reach traditional retirement ages by the end of this decade
| October 9, 2005 |  View for printing |
When executives at Platte River Power Authority, an electric company in Fort Collins, Colo., surveyed employees 18 months ago, they were stunned by a particular finding: 40 percent of the company's 200 workers said they intended to retire over the next five years.
With little chance of hiring from other stretched power plants — and apprenticeships for technicians typically taking at least four years — executives faced a stark reality. "We've got to be moving right now," says Dave Green, human-resource manager. He is scrambling to hire trainees and recently created a new job — plant assistant — to fill apprenticeships as soon as they open up.
Across a wide swath of industries, companies are starting to address the impending exodus of baby boomers — the 76 million Americans born between 1946 and 1964. The oldest boomers will begin turning 60 years old next year. Just two years later, they can start collecting Social Security benefits.
By Kelly Greene The Wall Street Journal
Full Story: http://deseretnews.com/dn/view/0,124 ... 957,00.html
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Critical Situation in Montana: "68% of classified employees in Montana's state govt. are eligible for retirement in the next 5 years. This is the highest % in the nation. Finding, keeping tech staff will be challenge" http://www.matr.net/article-16053.html
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