Ten-years from now 80% of the native born American workforce will be over 50! When these workers start to retire there will not be nearly enough young people in the workforce to take their place. This does not seem to be a problem right now as we are experiencing near historic levels of unemployment; however, when the recovery comes (and it will) we are going to see a complete reversal of the current situation—too few qualified workers rather than too few viable jobs.

The problem will not just be lack of bodies—skills, relationships, knowledge, and experience walk out the door every time someone retires. They take time and money to replace. A yearlong study conducted by the Concourse Group found that companies will need to adopt a much more flexible approach to retirement than in the past and put processes in place that will make it possible – and even attractive—for workers to stay active into their late sixties and even seventies.

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