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Preparing for an Aging Workforce: A Focus on New York Employers

As baby boomers age and begin to decide about retiring or staying in the workforce, businesses need to identify and evaluate policies, attitudes and perceptions affecting older workers, and to implement strategies that will allow them to retain as well as recruit skilled workers.

With nearly half of all employees in New York currently age 45 or older, businesses are likely to face a shortage of qualified workers in the next five years. Yet, just 16 percent of businesses surveyed are taking steps to prepare for the baby boom generation retiring, and fewer than one in ten are using strategies, such as offering phased retirement or other incentives for delaying retirement, to address the potential shortage. The most common strategies being used are improving technology and hiring younger employees.

The AARP 2005 New York Workforce Survey was conducted from July 1 to September 1, 2005 by Survey Sampling Inc. to examine aging workforce issues among a random sample of organizations in New York counties from the Finger Lakes, Mohawk Valley, Central and Western New York areas with 20 or more employees. Further information about the survey and its findings may be obtained by contacting Katherine Bridges at 207-899-2094. (34 pages)