Baby Boomers not Retiring any Time Soon

Denver Post writer, Claire Martin’s story, Baby Boomers, retiring? Not likely, says human resources expert, and Boulder resident, Bill Zinke, featured in yesterday’s paper, offers some insight into the issue of baby boomers not retiring. An issue near and dear to most HR pros hearts. AARP released a poll over the summer that revealed 50% of baby boomers worry they will never retire. It seems strange that those individuals in their “golden years” should have such serious financial stress. One of the men responsible for the AARP poll, Guy Molyneux, had this to say about the findings,

“People between 50 and 64 in general are at the peak of their earning power,” says Molyneux  “We do not expect to see the highest levels of economic anxiety among that age cohort.”

The interview with seasoned HR veteran Bill Zinke, is captivating because Zinke is both a baby boomer, and an HR pro. His opinions and thoughts on the issues facing baby boomers who have reached retirement age, but are still in the workforce, are vitally important. Zinke himself, is 85, still working, and loving it. Zinke developed the Center for Productive Longevity in 2006, a non-profit that helps the over 55 set find work and volunteer opportunities, and to utilize their business expertise.

“I never expected, when I was younger, to be working at 85. But I think people who retire and move to the sidelines become removed from the world. Creating the Center for Productive Longevity has really been my focus for the last 15 years. We need to understand the importance of engaging older workers, and that will become very clear as the economy improves, companies start hiring again and skills shortages develop.”

According to the same AARP poll mentioned above only 54% of Boomers are “satisfied with their own financial situation,” in comparison to 66%  of those polled who were retired or younger than 49. With those figures so prevalent in the media, it’s hard to imagine that many baby boomers are staying employed by choice, but it appears that some, such as Zinke, are doing just that. So HR pros, next time you have a boomer candidate for an open position, make sure to consider Zinke, and the fact that the older generation has a lot to offer in the way of experience and knowledge.

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Aaron

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