CHAPEL HILL, N.C. (October 7, 2010) – Loss of critical knowledge and shortage of skilled workers ranked highest among concerns related to the maturing workforce according to CPI’s 2010 Global Workforce Survey released today. More than 1600 individuals from 26 countries including 560 senior executives and 700 HR executives and managers responded to the survey. A webinar was held today to discuss findings. The analysis of the survey results can be found at cpiworld.com/knowledge-center/webinars.
- Sixty-four percent of respondents thought retiring workers would have a significant impact on their organization; only 34% anticipated making changes to employment practices or benefits or make their organization more attractive for current employees or recruits
- At least 90% of respondents in every sector expect retirements to significantly increase the loss of knowledge and expertise
- Sectors most concerned about their loss of competitive edge due to retirements included business services, government, manufacturing and utilities
- Large and small firms had different expectations about the impact of retiring workers, as an example 73% of large organizations and 59% of small organizations expected at least a significant impact on their entity
“What is most concerning, is that industries that expect the most serious impacts from retirements, seem least likely to change their recruitment and retention programs,” observed Dr. David DeLong, president of DeLong & Associates. He also noted that the recent recession may have masked the imminent danger posed by the looming retirement of high skilled baby boomers. Dr. DeLong, author of Lost Knowledge, Confronting the Threat of an Aging Workforce, and noted expert on strategic impacts of changing workforce demographics collaborated with CPI on the survey analysis. His most recent research can be found at www.LostKnowledge.com
About Career Partners International
Career Partners International (CPI) is one of the world’s largest providers of talent management solutions with more than 160 offices in over 20 countries around the world. Established in 1987, CPI focuses on talent management, outplacement and executive coaching services backed up by more than 1600 highly trained professionals.
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