http://www.enewsbuilder.net/theayersgroup/e_article000541048.cfm?x=b7tg58F,b55f1D3v,w
Tuesday, June 6, 2006
Summer 2006
VOLUME 1 ISSUE 13
The Age-Advantaged Workforce
by Terry Ebert
Managing Director
Tel: 212.889.7788
terry.ebert@ayers.com
***Begin Quote***
The fact is inescapable: our workforce is aging. The implications, for companies of all sizes, are unavoidable. As an IBM survey of HR directors concluded: "When the baby boomer generation retires, many companies will find out too late that a career's worth of experience has walked out the door, leaving insufficient talent to fill the void."
***End Quote***
One would guess that the gray workforce can't afford to "retire". You want some reasons?
Inflation will make everything more expensive. Pensions, especially generous ones, will be ditched via the bankruptcy courts. The PGC will pick up the obligations and pay them off at pennies on the dollar. The social security insurance ponzi scheme will go broke, but backed up by the full faith and credit of Washington politicians, it too will pay off pennies on the dollar (e.g., the full benefit age will "magically" go up ex post facto; the benefit amount will shrink; taxability will be tinkered with; all sorts of ifs, maybes, and gotchas will be invented). Oh, an the indexing to inflation, ha ha, just kidding. The COLA will be given based on the core rate of inflation that will only include stuff that doesn't go up and exclude anything that does. Taxes up. Deductions down. Sales taxes up. User fees galore and higher too (e.g., did you hear about the air use fee?).
Maybe it won't be so bad. Want some reasons?
This generation has sacrificed family for work. Hence they have no life or anything to retire for. This generation was raised by the greatest generation and still has some of the old American value of hard work. This generation has learned how to game the system and continued work allows the game to continue. This generation works; the next generation doesn't. So who's going to milk the cows and bake the bread? Yup, outsourced to India or China.
Seriously, what will we do?
Consult or contract. Stick it to them, all the traffic will bear, and we know the game!
Looking forward to my version of retirement some day! ;-)
Reinke Faces Life 