I can feel the wave coming. People are collectively starting to wonder. Articles are appearing and corporate programs are emerging.
What will the Boomers do?
There’s a lot of speculation around what Boomers do as they approach their back half. I hardly want to call it retirement as it won’t be like any retirement we’ve seen before. Remember that the first crop of Boomers turn 65 this year so you haven’t really seen their impact yet.
There’s no resting for this bunch, more a realignment – dealing with things on their terms. There may be work for many but it will be more on their terms – flexible hours, terms and pay. They’ll be coming to a depleted workforce with knowledge, skills and connections.
With about 25% of the North American populace in this cohort, the sheer numbers will continue to define many aspects of how the economy works. Demand for services will increase, you’ll see changes in the workforce, and what interests me the most – an infusion of energy and skills directed at giving back.
How do we benefit from Boomers?
What some smart organizations are doing now is identifying their best targets within the Boomer cohort. Whether that’s for products and services or better alignment of their brand to the potential customer base. For some non profits it’s looking to see how they can fill gaps in volunteer numbers by specifically targeting this group.
Philanthropy and community service for many Boomers will be part of their portfolio lives in the back half. But like everything else, there will be a lot of competition for that time and money. Those organizations with messages that resonate, methods that make sense and effectiveness that make Boomers feel that they’re part of something really productive will win their support.
So what is your organization doing to target and take advantage of this wave of potential?