This Week's Herman Trend Alert Cyberbullying---a Growing Problem

The Herman Trend Alert May 23, 2007 Baby Boomers Re-careering A recent study released by Los Angeles-based Korn/Ferry International, best known for its work in the recruitment field, echoes the message we have delivered for years regarding executive Baby Boomers and retirement. (See trend alerts from 10/9/02 and 9/12/01.) The massive retirements we expect from the Boomer generation won’t reduce the talent pool. Instead, Baby Boomers are looking at what Joe Griesedieck, vice chairman of Korn/Ferry calls "re-careering." Their study titled "The Executive Recruiter Index" released just last month, reports that traditional retirement may be gone forever. According to this report, many Baby Boomers are putting off retiring, choosing instead to stay in the workforce and pursue other opportunities. The demand for skilled labor has never been higher. In this study, 58 percent of their recruiters report an increase in the number of experienced executives changing professions. Companies facing shrinking labor pools, due to the reduced number of folks in Generation X and lack of training during the economic slowdown, should be increasingly concerned about the large numbers of older workers now reaching the typical retirement age. The good news is most Baby Boomers simply don’t want to retire, at least not in the traditional sense. They are much more interested in re-careering. Here’s why: 22 percent are bored with the mere thought of retirement. They don’t want to sit on front porch in the rocking chair and wait for the grim reaper. 21 percent have a need to be productive. Their parents taught them, "You must be a contributing member of society." 20 percent reported needing to have an intellectual challenge. 13 percent have insufficient savings. We actually expected this figure to be much higher, many are reluctant to admit their poor financial judgment or perhaps it is because this study focuses on executives who planned their financial futures more carefully. 13 percent find they need the personal interaction. Re-careering executives are choosing entrepreneurship, consulting, volunteering, or some combination of pursuits. "While this (shift) won't cure the impending talent crunch, it will provide more opportunity for younger executives to learn from Baby Boomers before they retire completely". © Copyright 1998- by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Roger Herman and Joyce Gioia, Strategic Business Futurists. (800) 227-3566 or http://www.hermangroup.com. The Herman Trend Alert is a trademark of The Herman Group, Inc." DISCOVER WHAT’S REALLY GOING ON... in the hearts and minds of your employees. Our InnerViews interviewing service uses SPHRs and PHRs, certified human resource professionals to probe for the information you really need to know. Exit and Stay Interviews, as well as Why-Didn't-You-Take-Our-Offer Interviews. Call Rosalie Catalano at 937-416-7066, or read more at: http://www.hermangroup.com/retentionconnection/exit_interviews.html. MOM ALWAYS TAUGHT IT WAS GOOD TO SHARE You have probably subscribed to The Herman Trend Alert for a while now and you know how valuable it is to you. Why not suggest that your friends sign up at http://www.hermantrendalert.com? Join the thousands who subscribe in 87 countries around the globe. Are there particular topics you'd like to see covered? Let us know and we will research "The Future of. . .". And let us know how else we may serve you? E-mail: joyce@hermangroup.com. YOUR EMPLOYEES NEED THEIR LEADERS MORE THAN EVER Help your leaders to excel. Thousands have used our weekly Lessons in Leadership to help their supervisors and managers remember how to hold onto top talent. The 52-week subscription is only $47, a bargain when you think about the savings to your organization in reduced turnover. Quantity discounts available by emailing Carol at carol@hermangroup.com. Order today at: http://www.hermangroup.com/store/subscription_all.html#3. Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers. New subscribers are welcome. There is no charge for this public service. The Herman Trend Alert is received by over 30,000 subscribers in 78 countries, in addition to other websites and printed magazines. Do you enjoy receiving this weekly e-mail update? Contact us about our co-branded Trend Alert service. Click here to sign up for the Herman Trend Alert. Subscribe or Unsubscribe to weekly Herman Trend Alert View this week's Herman Trend Alert Archived Weekly Herman Trend Alerts

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