As the first of the baby boomers begins to retire and apply for Social Security, the effects on U.S. businesses are expected to be negative according to many sources. Others, as found in this Seattle Post Independent article, consider the next few years as a great opportunity for those seeking jobs in accounting, health care and, of course, internet-related businesses.
For me, it's not so much about the short-term job gain of baby-boomers leaving the workforce as much as it is about the loss of knowledge and experience from the workplace, a subject I first started mentioning in February 2006.
Of course, businesses should have begun the transition process sooner and implemented many HR and KM activities, but it is not too late. Good succession planning, organizational development, mentoring (and the list goes on) can still serve management well.
In addition, the Inc Magazine August 2007 publication discussed another strategy - retain baby boomers. Many baby boomers will need to continue working in order to keep their benefits and income; but, according to the article, other reasons that the otherwise-retiring workforce may stick around (full or maybe part time) are for flexible hours, retirement planning and training. These are just additional tools that may be appealing to all parties as more of today's workforce begins considering leaving the game.