U.S. business not ready for retirements

http://feeds.bignewsnetwork.com/?sid=fd6726d8725975d3

survey shows U.S. companies are unprepared for and are underestimating a big wave of retirements that has already started.

Global outplacement consultant Challenger, Gray & Christmas Inc. said Thursday that despite the fact that the first of more than 77 million baby boomers started turning 60 this year, only 6 percent of 350 human resource executives polled said their companies have asked employees approaching retirement age about their retirement plans.

Most surprising was that among the 29 percent of companies with 10 to 30 percent of workers reaching retirement eligibility within the next five years, none has surveyed these workers to find out how many actually plan to retire.
more...

American companies and hospitals are coming to the realization that the baby boomers are going to leave
they make up most of the workforce out there and American companies have not prepared for the braindrain they will see in the near future... My hubby getting close to retirement is getting enticed to stay by dangling more money...because seriously he has been told he's irreplaceable... Its hard to replace over 30 years of experience... the companies are in a serious quandry...:rofl:

No, they'll just outsource more jobs, get more H1B visas, along with L1's.

American industry has shown it has zero loyalty to the employees. Well,
shock surprise - most of us don't have much loyalty to them anymore.

If someone asked me about my retirement plans, I'd lie like a rug. I'd
tell them I planned to work until 70 at least 'cause I just love my job.
Then I'd retire on the very day they needed me most.

Sorta like instant karma.

he wants... the companies by looking shortsighted are in one helluva mess

and they told my hubby that they could get Russian scientists on the cheap
My hubby said do it
and as I said noone can replace over 30 years experience ... He hasn't heard that joke anymore in other words we can outsource your butt... Ya American companies are only using that as a threat... babyBoomers really don't care at this point

These companies are in one helluva quandry
:rofl:

they take the jobs to China and China doesn't make enough money to counter the immense amount of promised pension... that I remind everyone... people paid into.

Of course, the ability to do those jobs matters. Get credentialed. But the opportunities are there. As a Boomer myself, I fear for those younger - not necessarily about employment. That could be the least of our worries.

Since most business, CEOs and Boards of Directors still seem to be run by old white men, maybe this will be an opportunity to better diversify the work force and remove some glass ceilings. I see it an an opportunity for progress. -JJ

know had to get new careers until they reach SS. Won't be much left of manufacturing to even have a career there. Enron, MCI, and the other biggies that went bankrupt dropped all their employees. I met lots of people in new careers they got into in their 50's & 60's.

And as for brain drain - how about very little brains at all with the new No Child Left Behind way of teaching student no useful abilities - like reading and writing.