HR Professional - February/March 2009 - (Page 59) I N T ERV I EW is 62, so the first boomers will start to retire in 2009 and the rest will do so gradually over the next 20 years. What everyone seems to have forgotten about is the last part of my book title—echo. The o echo started in 1980 and this echo generation entered the workforce just as people started panicking about a labour market shortage. So we’ve had lots of young people coming into the workforce. How can you have exploding university and college enrolments and a labour market shortage? You can’t. This point of view has been vindicated in the last seven years because the unemployment rate never dipped below six per cent. An unemployment rate over six per cent is not a labour market shortage; four per cent may signal a tightening, but six per cent doesn’t. A good thing about this pervasive labour-market shortage myth is that human resources professionals are now recognized key to a company’s future. HRP: So, is there going to be a skills shortage with the bust generation (born between 1967 and 1979)? DF: No. Don’t forget we still have a lot of gen Xers (that’s the back quarter of the boom generation born from 1961 to 1966) who are in their 40s and are waiting patiently to get into the senior executive positions occupied by the older boomers. Behind them are the bust generation, who are now in their 30s. The children of the boomers have entered the workforce as well and will be coming up the ranks in their late 20s. So we have lots of young, experienced talent and we’re in great shape regarding future expertise in the workforce. w w w.H RThought L ea der. c om HRP: What industries do you see opportunity in? DF: I did some research on the demographic future of the U.K. and found that the fastest growing sector after health care was energy, because an aging population tries to mitigate the extremes of temperature. The older we get, the more likely we are to turn on the air conditioning in the summer and the heat in the winter. People devote a lot more of their consumer budget to energy as they get into their 70s and 80s. HRP: What do you make of the intergenerational workplace “My company relies on me. But they Especially now. Maybe it’s time to rely on me, too create my own success.” Now’s the right time to consider an Express franchise. Express lets you maintain your professional status. And build on your advanced skills in management, sales, and other key areas. You know you can do it. Find out how. Contact us or ask your franchise consultant to tell you more. Visit expressfranchising.com or call 877-652-6400 and ask about owning a franchise. solutions and employees in all industries. Learn more about our services and franchise opportunity. Come meet us in booth # 940. 400589_Express.indd 1 F e b r u a r y / M a r c h 2 0 0 9 59 10:42:02 AM 11/20/08 http://www.expresspros.com http://www.hrthoughtLeader.com
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