The Population is Aging. Where Are The HR Vendors (and HR professionals)?

I posted an event review on our blog today on an event I attended this week. The event was the Silicon Valley Boomer Venture Summit.

In the blog post I questioned why more HR technology, work-life, EAP, training and wellness vendors (and HR professionals) are not focusing more on this space and the implications of an aging workforce.

If you market any of these services I think you'll find the blog post interesting.

Baby Boomers (born from 1946 to 1964) are planning to work longer and many until they are physically no longer able to do so according to recent AARP research. No matter how you look at it, the workforce is going to age considerably the next 10-20 years and this will have profound implications for organizations - on recruitment, onboarding, talent management, employee wellness, leadership development, training, etc.

Within the last ten years we've already seen employers shift benefit spending - they now spend more on elder care benefits than child care benefits but this is only the beginning and frankly, simply offering employees LTC insurance as a voluntary benefit or access to an R&R for elder care support won't cut it. This is also more than just workforce planning.

A lot more.

There are going to be huge opportunities for talent management software companies, employee benefit vendors, training and leadership development firms and any other human resource supplier who can "get out in front and dig a hole" (as Ken Dychtwald from AgeWave says) by meeting the needs of an aging workforce (employer and employee needs). This may mean new products and services or adapting current products. There are huge opportunities.

Labels: , , , ,