2007 Conference Book

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The Time Bomb is Ticking as Baby Boomers Approach Early Retirement

As the oldest Baby Boomers reach early retirement age in 2008, the U.S. faces enormous problems ... talent shortages are projected as high as 10 million by 2009.

All industrialized countries are facing an aging and shrinking population – aging because more people are living longer (longevity increased by 30 years in the 20th century) and shrinking because of lower birth rates.

• 78 million Baby Boomers are aging, with the oldest reaching early retirement age of 62 in 2008 and each year thereafter through 2025 at 4.34 million per year.
• 70 percent of the Baby Boomers indicate that they intend to keep working after retirement – a large and growing talent pool with experience, expertise, seasoned judgment and proven performance that is critical to utilize for economic growth and prosperity.
• In 1950, there were 16.5 workers for every retiree; today that ratio is 3.3:1 and by 2030 will be reduced to 2:1.
• With unsustainable social programs, a federal deficit of $357 billion and national debt at $9.3 trillion, utilizing workers 55+ will sustain U.S. productivity gains and economic growth.

WARNING: Failure to utilize this large and growing talent pool to a substantially greater degree will reduce productivity gains, economic growth and our standard of living.

Table of Contents

1. The Challenges and Opportunities of Demographic Change
   The Honorable David M. Walker – President and Chief Executive, Peter G. Peterson Foundation; former Comptroller General, U.S. Government Accountability Office
2. Six Key HR Strategies for Retaining and Recruiting Older Workers
   Susan R. Meisinger, SPHR – President and Chief Executive, Society for Human Resource Management, world’s largest association devoted to HR management with over 225,000 members
3. Increasing Workforce Participation Among Older Workers
   Humphrey Taylor – Chairman, Harris Poll, a service of Harris Interactive; previously President and Chief Executive, Harris
4. Live Longer, Work Longer: An OECD Perspective on Ageing and Employment Policies in the United States
   John P. Martin – Director for Employment, Labour, and Social Affairs, Organisation for Economic Co-operation and Development (OECD), Paris-based with 30 member countries
5. Towards a Longer Worklife:  Milestones of Finland and Finnish Institute of Occupational Health from 1981-2008
   Professor Juhani Ilmarinen, PhD – Director, Finnish Institute of Occupational Health; Professor and Director, “Life Course and Works”; leading European authority on aging and work issues
6. The New Retirement: Myths and Models
   Helen Dennis, MA – nationally recognized leader on issues of aging, employment, and retirement; author, weekly columnist, speaker, and consultant
7. The Role of Enabling Institutions in Tapping the Potential of an Aging America
   Scott A. Bass, PhD – Provost and Chief Academic Officer, American University, Washington, DC; author, speaker, and leading gerontologist
8. Productive Aging
   Robert N. Butler, MD, PhD – Leading gerontologist; President and Chief Executive, International Longevity Center-U.S.; first Director, National Institute on Aging, and Pulitzer award-winning author
9. Converging Forces Require Action
   William K. Zinke – President, Human Resource Services, Inc., a consulting firm he organized in 1969 to focus on human resources management