The rapidly aging global workforce – caused mainly by the number of retirement-eligible employees continuing to work – is both a challenge and major opportunity for corporations, according to a report released today by The Conference Board. The report is based on a “managing mature workers” working group comprising executives from a cross-section of industries, staff and line functions, and job titles. It includes such major companies as BP America, Ernst & Young LLP, Ford Motor Company, IBM, JP Morgan Chase, and Shell International. It’s one of 10 current Research Working Groups designed by The Conference Board to examine major issues facing business. Some 64 million baby boomers (over 40 percent of the U.S. labor force) are poised to retire in large numbers by the end of this decade. In industries already facing labor and skills shortages, forward-thinking companies are recruiting, retaining, and developing flexible work-time arrangements and/or phased retirement plans for these workers (55 years of age or older), many of whom have skills that are difficult to replace. Such actions are putting these companies ahead of competitors who view the aging workforce largely as a burden putting strains on pension plans and healthcare costs. “The maturing workforce is
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