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Issue link: https://digital.macdirectory.com/i/1154153
to increased life span and decreased birth rates. - By 2020, India will not face a labor shortage when the Baby Boomers retire, but it will face a talent shortage. - By 2020, millennials will comprise half of the global workforce, but 90 percent of people age 15 to 24 will live in developing regions where there is a scarcity of good, stable jobs The Harvard report pointed out that older workers, sharing their experience, increases not only their own productivity but also that of those who work with them. For example: - Our nephew has been in home remodeling, construction for more than 20 years. He's faster than his apprentice and helps him do the job better and faster - My over-the-hill physician is a better diagnostician (and listener) than his replacement The Harvard study found that productivity peaks at 50 and is 60 percent higher than the average 20-year-old. That partially explains why, in the past five years, the labor force grew just 0.6 percent per year (half that of a decade earlier) while productivity grew just 0.5 percent per year. Managers often say they aren't short of skills because that's increasingly easy to attain with a few years of added education. Instead, they note they are short on experience. I found it interesting a few weeks ago when a CNBC interviewee said, "Millennials, or 'echo boomers,' have the world in their hands. It's time to focus on the millennial trade." Like they're a different breed from a far-away planet! Duuhh! They're like you and me. Their children of baby boomers ( just like you were then). They grew up with doting parents who praised them and