
- When US Social Security was created in 1935 - for every retirement benificiery there were 42 working people paying in
- In 2007 - this ratio had reduced to 3:1
- By 2020 - it is estimated that the ratio will be 2:1. Each couple will in effect be responsible for supporting one senior citizen
Interesting stuff - but what does this mean for the world of work? Well, it's impact will be increasingly felt in both public and private sectors. Research by Bersin Associates reveals that in the US, 50% of senior managers will retire from the top Fortune 500 companies within the next 5 years. Other research shows that NASA could loose up to 50% of its workforce to retirement. If organisations are not prepared for this then thousands of man-years of experience, expertise and knowledge will walk out the door. Organisations need to start thinking about this issue now.
I wrote about this here in a previous posting http://Generationxynext.blogspot.com/2007/09/when-is-your-organisations-next-dec.html
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