Boomers no more eager to retire than predecessors

Baby boomers are no more eager to retire than their predecessors, according to a survey of more than 2,500 senior HR executives in North America by Novations Group, a consulting firm based in Boston.

ìLike preceding generations approaching retirement age, boomers seem to have mixed feelings about leaving the workforce,î said Novations Executive Consultant Tim Vigue. ìTheyíre not so anxious after all to leave the job, at least according to HR staff responsible for monitoring such trends.î

How would you characterize the attitude toward retirement of the baby boomers in your organization?

Our baby boomers seem eager to retire - 14%
Our baby boomers seem no more eager to retire than previous age groups - 42%
Our baby boomers do not seem eager to retire - 19%
Not sure - 25%

But boomer ambivalence has left many employers in an awkward and vulnerable position, warned Vigue. ìIf boomers are giving ambiguous signals to management, then itís easy to see why employers may find themselves in a quandary. A majority of employers, 56%, either donít expect a large loss of talent, or just arenít sure.î

With respect to retiring baby boomers, how would you describe the situation at your organization?

Weíre taking steps to mitigate our loss of talent (for example, by creating ways for baby boomers to gradually reduce their hours) - 26%

We anticipate a serious loss of talent and institutional know-how, but currently do not have any steps in place to mitigate this loss - 18%

We donít expect an unusually large loss of talent with baby boomer retirements - 36%

Not sure - 20%

The widespread uncertainty has contributed to indecision or inaction by employers,î said Vigue. ìCompanies seem to be all over the map in dealing with possibly soon-to-retire boomers. Since organizations are not able to anticipate how many vacancies theyíll need to fill, in what critical areas or when, they are leaving a great deal to chance. Succession planning, internal development planning, and recruitment and hiring processes are all compromised as a result.î

According to the survey, only 26% of employers have plans that will allow them to control the flow of talent into, within or out of their organization. ìWell-run companies wouldnít dream of handling the flow of products and services they sell in such a haphazard way,î observed Vigue. ìThese 26% are probably best-practice organizations that will have a competitive edge over other companies that donít have plans to address the issue.î

Equation Research conducted the Internet survey of 2,556 senior HR and T&D executives in December 2007.

Novations Group, Inc. is a leading provider of consulting and training services on four continents. Novations is recognized for its expertise in diversity & inclusion, employee engagement, talent management, employee selection, leadership development, organization communications, sales training and customer service. For more information, visit: