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submitted: Oct 2nd 2008 | by: CelineHoran | Total views: 1 | Word Count: 455 | |

Since the turn of the century, it has been estimated that 78 million boomers will leave the workforce by 2033. And it's predicted that the repercussions will be felt worldwide. Here's what people have been saying about this phenomenon, if you've not heard about it.

Finland - 2003, The Ministry of Labour wrote a report, "Preparing for the Labour Market Change Caused by the Baby Boom Generation". In it they say that from 2010, the population will start to decrease, and by 2030 will have decreased by about 400,000 people, which is equivalent to a decrease of about 20,000 people per year. Labour capacity will continue to fall through the 2010s, with a deficit of 30,000 people a year at its peak. And the irony is, we do not have the people to replace them.

However, Kevin Coyne from Coyne Partnership Inc. disagrees with this theory. He thinks that there is no loss to be had from boomers leaving the marketplace. As their slow departure will give the economy time to adjust itself.

David Walker, US Chief Accountant, would say otherwise. He's noted as saying, that the US will see a major crisis in the near future, with the walk out of baby boomers, which will put the US economy on red alert.

With so much publicity on the topic comes a lot of opinions and reactions. Some companies are doing something about the problem but many are not.

Hiding ones head under the duvet, and thinking this won't happen to you is crazy thinking. And even if it doesn't happen to you, it will certainly affect the companies you serve, which means it will effect you, one way or another.

If the facts are true, then this is a glimpse of how things could be within the next 18 months.

Buyers will stop purchasing your services in an effort to cut costs in an effort to slow down the threat of closure. And your once healthy list, slowly grows thiner as more and more of your clients face closure.

For recruitment agencies, competition will become unbearable, as searching for the right calibre of people from an ever decreasing recruitment pool, will become tougher than ever before.

Boomers retiring is inevitable, there is nothing we can do about that. But to survive this crisis, smart companies can start preparing for it NOW. The three tactics are to:

-- Understand how the looming human capital crisis could effect you -- Build a strong customer outline -- Design a razor-sharp marketing offensive towards building long term alliances

Companies who want to enjoy a boon and not a bust in 2008 and beyond, have no option but to start preparing for the overwhelming loss in human resources now, by implementing razor-sharp marketing tactics.

About the Author

Ready for the babyboom crisis? Then get Celine Horan's free impact report now! Niche
Marketing stategist and b2b copywriter for the e-learning and professional development industry. Get a totally unique version of this article from our article submission service

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