Times are changing for employers. AARP studies and surveys indicate there is a major change in the demographic shift and the aging workforce.

The Baby Boomer generation makes up 77.5 million people. This represents the largest single sustained growth of population in the history of the United States.

Did you realize that 18 percent of the workforce at a typical large company is retirement eligible and another 30 percent will become retirement eligible in the next 5-10 years?

By 2010, one in three workers will be over the age of 50. Within the next decade only 4 percent of the projected workforce growth rate will be in the 16-54 age groups. However, the 65+ workforce will increase 73 percent. Persons age 55 and older will account for 75 percent of the projected increase in the nation’s working-age population.

By 2012, the projected percentage change in the labor force shows a 7 percent decline in the ages 35-44. This is the typical age group which is being groomed for managerial promotion.

However, the projected percent of change in the labor force in the 55-64 age group increases 51 percent and the 65+ increases 43 percent.

Alabama worker average annual total employment shows similar aging trends with increased employment in the 55-64 and 65+ age groups. There is a significant decrease in workers in the 14-44 ages.

Companies in many industries will experience an acute shortage of qualified workers.

With the retirement of a generation, we are losing key skills and experience. Employees with critical knowledge are transitioning out of the workforce.

More than nine in ten (95 percent) of the employers in Alabama reported that it is &8220;very important&8221; for their organization to retain skilled employees.

But only one in ten (11 percent) reported they have taken actions to prepare for the retirement of the baby boom labor force.

Where does your company stand in planning for the future workforce?

Dr. Marvin Copes is Education/Community Service Volunteer for AARP Alabama in Maylene. He can be reached by e-mail at mailto:mlcopes@charter.net