Are You Smarter than a CEO?

Despite employee shortages, companies keep rushing older workers to the exits

Photo by Tarik Haiga on Unsplash

What’s wrong with this picture?

· Last fall the U.S. had 6.5 million unemployed workers but 9.5 million job openings. In manufacturing, health care, education, and wholesale and retail trade, there are more positions open than qualified candidates to fill them.

· A worldwide survey of employers reported that 77% of companies report talent shortages.

· The average retirement age of American workers is 62. More than half of retirees say they retired sooner than they had expected.

· About 11,200 Baby Boomers turn 65 every day. Each worker who retires represents years of institutional knowledge and organizational continuity walking out the door.

· Three out of four current workers in one survey expected to continue working after retirement; in fact, only 30% of retirees actually do.

· Four out of five Baby Boomer employees would like the option of retiring gradually, but only 16% of U.S. employers offer a formal or informal phased retirement option.

If you can see the problem and the obvious solution, then you must be smarter than 84% of America’s CEOs, who are doing little to stanch the bleeding…