Baby Boomers Widen Skills Gap; Young People Complain That Older People Are Not Making Way for Them in the Jobs Market. However, the Reality Is Not That There Are Too Many Older Workers -- but That Too Many Are about to Retire. Niki Chesworth Looks at the Demographic Time Bomb about to Hit the Workforce

The Evening Standard (London, England), May 17, 2011 | Go to article overview

Baby Boomers Widen Skills Gap; Young People Complain That Older People Are Not Making Way for Them in the Jobs Market. However, the Reality Is Not That There Are Too Many Older Workers -- but That Too Many Are about to Retire. Niki Chesworth Looks at the Demographic Time Bomb about to Hit the Workforce


Byline: Niki Chesworth

YOUNG people are full of age rage -- resentful towards older workers staying in their jobs well into their 60s. However, the reality is that more older workers are retiring than ever before. Rather than "taking up" jobs they are about to leave a vacuum of skilled talent as they start to take their pensions.

Many of these potential retirees are supervisors and managers and certainly have years of experience, so they do not hold the sort of jobs that the young unemployed can easily move into.

Francois Moscovici, who is an expert on retaining talent in business and issues affecting older workers, says: "It is like comparing apples and oranges as no 62-year-old will hoard the job of a 22-year-old -- they are at different stages of their careers.

"In fact, younger people need older workers. Jobs for younger people will come from economic growth which itself comes from businesses managed well by good leaders. So business actually needs to retain older workers to lead companies at a time of extreme talent scarcity. The problem is that we are facing a leadership cliff."

So who will fill the roles left by the record numbers retiring? Workers in their 30s and 40s will be the main beneficiaries, according to Moscovici, but the problem is that there are not enough of them.

The roots of this problem go back to the post-war years and the population bubble known as the baby boom years. This generation is now about to hit 65.

On average around 550,000 people reach pensionable age each year, but this number is rising rapidly and next year it is going to hit a peak of 807,000.

Not only could this put a massive drain on the public purse as record numbers claim their pensions, it will also leave a massive talent shortage.

Moscovici, who is a career coach and director of White Water Strategies, explains: "The problem is that the 30-plus age group, who are in their early leadership years, will need to meet this skills gap, but there are not enough of them.

"The population of this age group is declining and there are simply not enough to replace the number of older workers who are retiring.

"While more workers over 65 are staying in their jobs and the highest number of new jobs created over the last six months has been in the over-65s group, most are still opting to retire. After all, this is a generation that still has generous pensions on the whole.

"Even if they have suffered a pensions shortfall, they will then often work part-time to supplement their income rather than remaining in their existing role. The over-65s are usually very good value, are happy to take less money than pre-retirement and work fewer hours and they are usually self-managing so they do not require close supervision.

"However, even with these older workers remaining in the workforce, there will still be a huge shortfall in the numbers able to take over the supervisory and management roles of those opting to retire or retire part-time. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Baby Boomers Widen Skills Gap; Young People Complain That Older People Are Not Making Way for Them in the Jobs Market. However, the Reality Is Not That There Are Too Many Older Workers -- but That Too Many Are about to Retire. Niki Chesworth Looks at the Demographic Time Bomb about to Hit the Workforce
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.