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Boomer Exodus Looming for Employers

Seacoast Online, 7/24/07

Abstract:

The United States certainly has many serious problems, and as we strive to fight everything from terrorism to global warming, we might be losing sight of a problem which directly affects our economic engine and thriving businesses — a baby boomer exodus and brain drain.

Consider these stark statistics:

• 50 percent of all companies recently surveyed say they expect to lose more than half of their senior managers in the next three years (RHR International Study).
• 15 percent say they expect to lose 75 percent more (RHR International Study).
• More than six out of 10 respondents to an Ernst & Young survey say expected retirements during the next five years will cause a major "brain drain" in at least some business functions.

The best and brightest of businesses are on their way out, and a generational exodus will soon be upon us. Companies will see their best, brightest, and most experienced head off to golf courses while their businesses are left in a lurch.

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