When it comes to preparing for what our nation’s workforce will look like in 2025, I think Brian David John, an Intel Futurist, said it best: “If we can envision the future we want, then we can work to build it.”
Challenges around recruitment, talent retention, and business growth are expected to intensify over the next ten years. Beginning to prepare for the future now could have a huge impact on your bottom line.
You may have already heard statistics that say by 2025, 75% of the workforce is expected to comprise of Millennials. Not to mention, international migration is projected to overtake natural increase as the primary drive of population growth by 2032, according to the United States Census Bureau.
If you dive into data specific to Indiana, there is projected to be a 70% increase in the number of Hoosiers that are age 65 or older by the year 2030, according to the Indiana Business Review. With this age group still choosing to work, for financial reasons or others, where will Millennials go? Will there be job consolidation? Will you lose them to competitors with a more clearly-defined career path? How will you attract and retain the right talent for your organization?
At our upcoming RESOLVE conference, Doug Prince and Brea Dantin of ProCourse Fiduciary Advisors will show senior management how to prepare today for the future workforce challenges of tomorrow, and ways their benefits packages can help them achieve their corporate objectives and organizational goals.
Ashley Cramer is the Marketing Coordinator at ProCourse, a registered investment advisory firm focused on helping employers manage and improve their 401(k), 403(b) and other institutional retirement plans.