"As the baby boomers continue to age, the 55 to 64 age group will increase by 30.3% or 9.5 million persons, more than any other group. The 35 to 44 age group will decrease by 5.5%, reflecting a slowed birth rate following the baby boom generation, while the youth population, aged 16 to 24, will decline 1.1% over the 2006-2016 period.
"Workers 55 and older are projected to leap from 16.8% to 22.7% of the labour force between 2006 and 2016. The aging of the baby boom generation will cause an increase in the percentage of workers in the oldest age category."--US Bureau of Labour
These are some fascinating statistics and based on a recent Maclean's article, also apply similarly here in Canada.
There has never been a better time to be old. I use the word 'old' to be dramatic, so feel free to use mature or wise. Here is what I believe will happen: The retirement age will be increased to between 68 and 70. This will happen for two reasons: 1. People will want to continue to offer their services in exchange for money, and, 2. The retirement pension funds will not be able to support all the boomer payments.
What does that mean for you if you or someone you know is in the 55 to 65 year old range? Answer: Far less age discrimination. Why? Because hiring managers are getting older but instead of leaving and being replaced by new and younger people, they are staying on. Therefore, they see your value because they are one of you. Like will always hire like.
This is the good news. So what is the bad news? The problem with old people, and I have worked with many, is not age. It is a lack of flexibility. In any business, you die if you do not respond to market changes. Rigid staff is a killer for morale and innovative progress.
In an interview, you must address your ability to stay current and open to new ideas.
The other problem is showing obvious signs of counting down to retirement. In a Sept. 21, 2009 article in Maclean's magazine on baby boomers in the work force, one woman was quoted as saying that she would give the next 14.5 years of her life to her company if they would have her. She was let go not long after.
They invented drugs for men to please their partners in bed. Here is a get rich quick idea: Invent a drug to inspire career passion in both men and women nearing retirement.
P.S. While you are at it, make this drug work for the entire population ... this problem seems to be a bit bigger.
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