Dive Brief:
- CareerBuilder created an interactive map to show cities with the largest populations and their age brackets. The study took into account the share of workers 55 or older. The city with the largest increase in the concentration of older workers from 2001 to 2016 is North Port, FL. Following this city is Oklahoma City, OK, Virginia Beach, VA, Sacramento, CA, and Spokane, WA.
- At the same time, CareerBuilder also tracked the biggest declines in millennial workers. The cities that experienced the largest depletions of millennials include Tucson, AZ, San Diego, CA, Urban Honolulu, HI, Bakersfield, CA, and Toledo, OH. The largest increases in millennials included San Francisco, CA, New York, NY, and Atlanta, GA.
- This data is important for employers who are trying to attract a younger workforce and build their talent pipelines as older workers retire and move on.
Dive Insight:
There are a growing number of regions where Baby Boomers are still making a difference by working later in life. The Transamerica Institute conducts an annual poll, and as of most recent reports around 67% of American Baby Boomers plan to continue working well into their retirement years. Korn Ferry data also backs this up.
This trend is happening for a number of reasons, including lack of retirement income due to the economic collapse of 2007 and people living longer and healthier lives because of advances in health care. Employers can provide opportunities for older people to continue working because they have a great deal of knowledge to share with others. They are great mentors and can bring a lot of value to any workplace.
Additionally, strong mentorship programs can help employers that have skill gaps and a lack of young talent. Such programs ensure that young talent that enters the fold will not be overwhelmed and pushed to leave due to poor preparation.
