The impact of a high volume of Baby Boomers that are and will be eligible to retire creates a business problem for many employers. The ability to fill vacated positions will likely be difficult as the volume of job candidates does not meet the demand for proposed openings. This is due to a labor gap between the generations; those retiring and those working. The outgoing number is higher than those available. Another issue with diversity in an aging workforce are retirees who cannot financially retire; and thus continue working. This can create resentment in workers who want to retire, but cannot afford to.
List three business problems, situations, or opportunities that you believe are diversity laden. Please give possible solutions and explain your responses in some detail. The solution explains how an aging workforce is creating both problems, and opportunities, for employers. With strategies such as succession plans, organizations can be prepared to fill positions as the significant volume of Baby Boomers retire. Cultural diversity provides an opportunity for organizations to have a workforce that is similar to the customer base. In about 400 words, this solution provides details on three different scenarios which explain the impacts of diversity.© BrainMass Inc. brainmass.com March 22, 2019, 12:50 am ad1c9bdddf
The first business situation due to age diversity that likely began in January 2011 for all employers is the ability for "Baby Boomers" to retire. Statistics indicate "1/1/11" was the date when the first "Boomers" turned 65, and also the start of a potential 10,000 people retiring everyday - for the next 19 years (reference). The huge volume of "seasoned" employees who are leaving the workplace can create a lack of experienced employees if organizations do not address this. The solution for any employer with those able to retire is to have a succession plan. It is vital to identify employees who may be retiring within the next year or so, and analyze ...
Diversity in the workforce can create unique problems, scenarios and even opportunities for any business. This solution discusses in detail three examples of what diversity means for today's employers. Likely the largest scenario facing just about any organization is the mass "outflux" of Baby Boomers who are eligible to retire. Organizations may be seeing their most seasoned, and experienced employees, leave. This solution discusses how diversity is impacting organizations, both as a positive and in creating challenges. The solution is about 400 words and includes a reference.