But somehow, it seems to have snuck up on some folks. There are plenty of employers who haven't even thought about what they'll do when such experienced and valuable employees walk out the door.
That's why some employers are taking the aging boomer population seriously and banding together to come up with better solutions.
One of those groups is the Alliance for an Experienced Workforce, initiated by AARP. With more than 20 industry associations representing more than 5 million businesses, the focus is on finding strategies for recruiting and retaining workers over 50, says Emily Allen, director of work force programs for AARP in Washington, D.C.
''What we did was get some really high-level strategic thinkers in one room,'' Allen says. ''And they soon all realized they needed to be sharing information, and not working in silos.''
One of those participating in the alliance is Computing Technology Association of America, or CompTIA. John Ventor is president and chief executive officer.
''I think that a lot of companies have been focused on their stock prices, their earnings per quarter and their day-to-day survival,'' Ventor says. ''They have not had the time to focus on baby boomer retirement. But employers that fail to attract and keep the age 50 and over work force lose a wealth of experience, skill and knowledge that these employees have gained by performing work at each rung of the ladder.''
Allen says AARP hopes to develop a ''best practices'' for retaining older workers, from benefits to workplace design to recruitment. Ventor and Allen acknowledged they will be listening closely to what older workers want, such as flexible work schedules, more telecommuting options or training in other fields.
Allen says that by working with educational institutions and groups such as CompTIA, the alliance hopes to develop real-world solutions. For example, CompTIA already is an international provider of individual certifications for technology professions. These certifications test and validate a variety of baseline technical and professional skills, which many employers find useful as an indicator of employee skills and abilities.
Ventor notes that there is an increasing demand for technologically savvy workers, and those over 50 can be trained to fill these positions just as well as younger workers. He said that ignoring what older workers have to contribute is a mistake.
''A skilled and experienced work force is required to assure that technology is used properly,'' he says. ''Organizations risk losing core competencies, in-house expertise and mentors for future talent. The long-term impact of such a trend is a slowdown in innovation. Reversing this trend is why we joined the alliance.''
As part of a report for AARP, Towers Perrin found that ''replacing an experienced worker of any age can cost 50 percent or more of the individual's annual salary in turnover-related costs, with increased costs for jobs requiring specialized skills, advanced training or extensive experience - qualifications often possessed by 50+ workers.''
The report also found that since many baby boomers want to remain in the work force in some capacity, such as through phased retirement or part-time or seasonal work, it's up to employers to come up with solutions that satisfy both worker needs and employer demands.
If you're interested in more information on the Alliance or to view the AARP-commissioned report, ''The Business Case for Workers Age 50+: Planning for Tomorrow's Talent Needs in Today's Competitive Environment,'' check out www.aarp.org/alliance.
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Anita Bruzzese can be reached c/o Business Editor, Gannett News Service, 7950 Jones Branch Drive, McLean, Va. 22107.
