How will the retirement of the baby boom generation affect the workplace over the next seven years? Will the U.S. experience a worker shortage, or will there instead be a skills shortage and increased unemployment as organizations offshore jobs in search of cheaper skilled labor? The Society for Human Resource Management (SHRM) attempts to shed some light on these issues in its new 2005 Future of the U.S. Labor Pool Survey Report. ; According to the Bureau of Labor Statistics, the overall labor force will grow by 12 percent by 2012. However, the percentage of workers aged 55 and older will increase by 49.3 percent. As many baby boomers retire, human resource (HR) professionals will need to determine how to best fill that void. « While it’s difficult to project the status of the job market seven years down the road, we can see clearly the challenges to the workplace, » said SHRM President and CEO Susan R. Meisinger, SPHR. « We know there will be millions of baby boomers retiring and that some workers now entering the workforce lack core competencies. These are serious HR and workforce issues that could undermine the nation’s global competitiveness. And HR must determine how to meet
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