EVERY DAY since January 1st, 2011 10,000 Baby Boomers reach the age of 65
The breakdown goes something like this… boomers (those born in 1945 thru 1963) have reached the 65 year old retirement age starting in 2011… the staggering impact is the sheer numbers of those reaching retirement age added to timeline, we have almost 20 years of continued retirements, health issues and other career affecting issues coming !! At 10,000 per day the number is close to 4 million per year currently! The numbers are on a curve so major impacts are now being felt in 2016, 2017, not to mention SO MANY eligible to retire are still working!! Some industries are going to be transformed differently than others. The Commercial Construction, Specialty Trades and Electric Utility sectors are agreeably top loaded with baby Boomers, clearly an industry segment that will feel the impact in numerous ways.
Organizations are becoming all too aware as they work through impact studies and WORKFORCE PLANNING initiatives of the impending danger and the current hiring pains. The impact will be one of opportunity and risk, and companies, workers, vendors and suppliers can all benefit from exploring the impacts that Demographics and the impending flood of talent loss will have on the United States.
The crash of 2007 and 2008 is OVER --- the uptick is here and business is once again starting to head sharply upwards. We are hearing the word “BACKLOG” again!! Add to this the retirements and health related issues that come with an aging workforce…this spells timing, great timing.
With all the head count freezes and tentative hiring over the last X number of years many Executives are listening to Work Force Planning results with a new found interest. Organizations that have for years ran with a 4% or 5% turnover rate are projecting 30%, 40% and even 50% turnover as we move towards 2020 (2019 is the PEAK of boomers turning 65 with the last boomers hitting 65 in 2028) … When you look at the curve of max numbers in 2019 and the reality of people working past 65 the next ten years will be industry changing.
No problem - just hire new people… if only there was a cadre of skilled professionals ready on the sidelines. Reality is that a drastic gap exists within the ranks, not to mention fewer schools producing Estimators, Project Managers, Engineers and/or Technicians. Additionally, the ability to achieve the knowledge transfer from the retiring ranks takes TIME.
PROFESSIONALS REACHING RETIREMENT
Look around your department – what will happen if everyone that is eligible in the next couple of years retires? Like a Director with a major company shared the other day “We could lose our CEO, or a VP or two and the company will continue, but if we lose half of our project managers and our Chief Estimator, we might just have to turn down work and cancel some.” The unspoken side event of all the retirements puts an enormous strain on pension, Social Security etc… The ability to continue working and earning income is important to many retiring professionals. Mogul will be working across the Nation to help out with Full Time, Part Time, Travel and all sorts of new opportunities based on the level of need for qualified professionals. Of course there is now HUGE CAREER ADVANCING opportunities for professionals ready to embrace the new opportunities. This is truly the TIME to leverage your career for the future.
An Industry proven leader, Mogul Staffing has provided Career Agent support to hundreds of professionals. Our proven work in Commercial Construction and the Power/Energy sector stands on its own -- This is truly the time wherein your career deserves and demands representation and someone fighting on your side. Contact us TODAY to learn how we can launch your career progression and put the plan in motion.
Our professional recruiting team works almost exclusively within the Commercial Construction, Specialty Trades and Power Delivery sectors. We offer Permanent Placement Contingency based as well as Retained recruiting solutions to ENR’s TOP 600, Commercial Electric Companies, Specialty trades, Electric utilities, Cooperatives, and more throughout the US. Mogul is an expert in “REAL RECRUITING” identifying competitors and actively locating top talent, professionals that are busy working with their heads down.. above average contributors, people YOU WILL NEVER SEE running ads or using job board recruiters….
Transmission Line Engineer IV, G&T Utility
Sr. Project Manager – Commercial Electric
Relay Technician – Testing Company
Estimator – Industrial Construction (power)
Program Manager - Power Delivery, Engineering Firm
Scheduler – Primavera Heavy Construction