Expected Implications of Baby Boomer's Retirement Wave

2194 WordsDec 12, 20119 Pages
Management 3360: Organization Theory [Document Subtitle] The Baby Boomers are a globally recognized cohort of individuals who were born post World War II, between 1943 and 1960 (Salahuddin, 2011). This shockwave of births resulted in the second highest births per year with 1.5 million more births than had been expected (Salahuddin, 2011). 60 years later, the boomers are in the midst of their transition towards retirement from their careers and this trend will result in nearly the largest wave of retirement that our continent has experienced. The implications of this wave have been expected and planned for, but until the consequences are realized in the 21st century economy, there is little that can be done to prepare for this…show more content…
This is a proactive approach that will play a large factor in the general success of an organization, and one that will assist organizations in effectively managing their internal staffing levels. Given the evident reduction in the number of available workers, as demonstrated by the Canadian population statistics and growth patterns, it is appropriate to assess the situation in terms of the Canadian labor market and the fulfillment of the organizational positions that the baby boomers will and already are leaving. A major perceived threat by scholars has been the fact that the generation following the baby boomers, the baby busters, AKA the Xers, is 16% smaller in size (Cappelli, 2005). Regardless of any increase in productivity, this number is significant and cannot be ignored. It can, however, be offset by the encouraging statistic that describes the generation following the baby bust generation: the baby echo, AKA the Nexters. This generation consists of the offspring of the baby boomers and though when this research was conducted in 2003 they had yet to enter the workforce, their entrance is one that seems to have often been ignored by researchers considering the implications of the retirement of the baby boomers. This brings up the second issue to address is that of the evolving employment relationship. It is undeniable that there are “significant generational and demographic changes that are about to occur” (Cappelli, 2005) and that have already started

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