Vice President-National Director
Human Resources International
Human resources and recruiting/staffing professionals are well aware of growing talent shortage in corporate America. How could they not?
Pundits and savants are issuing a steady stream of jeremiads warning of impending doom and the inevitable slippage of the United States into a second-rate economic power, all due to the human capital deficit. What these dour forecasts often fail to acknowledge is that those of us in HR and other recruiting/staffing professionals earn our living by facing up to such challenges and delivering the right solutions.
Talent shortage is a problem that clearly isn’t going away. A counteractive trend has been an increase in the typical lifespan. When Social Security was instituted in the midst of the Great Depression, government bureaucrats knew that most recipients would pass onto the great compensation and benefits plan in the sky within a couple years of reaching 65.
It was a safe age, and it’s been stuck there ever since. Today, the average U.S. male lives to 76; for women it’s 81. And that is an average. Those who actually attain these ages can look forward to almost another decade or more of life.
The point of all these numbers is to underscore that there are millions of experienced, talented people out there who are ready and willing to work—some from economic necessity, and others who are as good at golf as they are ever going to be, and want something more challenging.
As a firm that specializes in placing HR professionals in contract assignments, we know that most people in the 55-plus age brackets won’t accept just any job. To quote the famous old hamburger commercial, they want to know: “Where’s the beef?”
And that means interesting work and good pay with a benefits program that includes a choice of comprehensive health care programs, paid holidays and vacations, flexible work schedules, 401(k)s, and yes, retirement plans. Candidates also want to work from home or other remote locations, including their Florida and Arizona winter residences.
In short, they want to tailor assignments to suit their lifestyles, and ease back into the workforce under terms and conditions that suit their individual needs. An AARP study reveals that 68 percent of people aged 50 to 70 intend to continue working after traditional retirement age.
As the ranks of seniors swell beyond 72 million during the next 25 years, this will represent an enormous talent pool of people who will keep on working if the jobs are challenging, the pay is right, and their health is good. Despite this, a study by the Boston College Center on Aging and Work found:
■Eighty percent of businesses have not established employment options for older workers,
■Sixty percent of CEOs do not consider the aging workforce in strategic planning,
■Only 8 percent of firms have formal policies for phased retirement.
The Bureau of Labor Statistics projects that there will be a demand for specialists in the next two years. The good news is that there are thousands of pros in the 55-plus age bracket who are ready to get back in the game. All we have to do is provide them challenging assignments and attractive compensation and benefits packages. Now, let’s get to work.
Tracey Goldthwaite joined Human Resources International nine years ago in the Chicago office after7 years as a recruiter specializing in administrative placements. She is a graduate of Saint Mary’s College of Notre Dame. Headquartered
in Boston, HRi is a nationwide firm focused exclusively on placement of human resource professionals in contract staffing and permanent positions. Reach Goldthwaite at tgoldthwaite[at]hri.com.
