The 79 million Baby Boomers born between 1946 and 1964—turning 52 to 70 this year—comprise the largest generation in U.S. history. Beginning in 2011, their exodus from the workforce, in the form of retirement, ushered in a dynamic change that will rock the employment landscape for years to come.
For the next thirteen years, approximately four million Boomers a year will leave the workforce, leaving vacancies for Generations X (born between 1965 and 1983) and Generation Y (born between 1984 and 1995) to fill. Finally, Generation Z, the oldest of whom will turn 20 this year, already dubbed the “Net Generation” for their attachment to the Internet
If you’re in the market for a job or considering a career change, the Boomer exodus may spell opportunity with a capital “O.” The areas particularly impacted by the departure of the Baby Boomers will be:
Management / Senior Level Positions
Over the years, many Boomers climbed their way to upper-level positions in leadership and management roles. Their exit from the workplace will leave gaps in these important roles, creating career advancement opportunities for both Gen X and Gen Y. Well-developed management skills and a drive to lead will benefit job seekers as companies scramble to fill senior level positions.
Traditionally, Baby Boomers have held the majority of jobs in the many fields that fall under the broad title of “skilled labor.” From electricians, plumbers and heating/cooling specialists to engineers, mechanics and various construction-related occupations—these important-to-our-daily-lives careers are facing major shortages as Boomers wave goodbye to the daily grind. In general, fewer young people are pursuing these types of careers. Some labor experts are predicting a boom in opportunities for the next generation of skill trade workers, complete with wage hikes and aggressive recruiting policies.
Boomers are impacting the job market in another major way as well. As this huge generation ages, their changing needs will generate high demands in various job markets. These fields include—
As this largest-ever generation ages, they will require an unprecedented level of health care services. Already some of the fastest-growing jobs in the medical field include medical billing specialists, physician’s assistants, registered nurses and pharmacy technicians. The demand for these and other specific medical positions are expected to continue to grow as will the demand for the supporting roles in patient services and public relations.
A spike in the area of financial services has already been realized as Boomers make financial plans for their golden years. The need for alternative retirement planning is expected to see continued growth as both public and private pension plans become less common.
Let B Loehr Staffing be your staffing resource as you seek the opportunities afforded by the wave of Baby Boomers exiting the workforce. We provide staffing for multiple clients in a variety of industries. One of those positions is sure to be the right fit for you. Contact us today and let B Loehr help you take advantage of the Boomer exodus.