E&Y's Top Five Business Risks for 2008

Regulatory and compliance risk
Global financial shocks
Aging consumers and workforce
The inability to capitalize on emerging markets
Industry consolidation/transition

Q. What are your workplace/workforce predictions for 2008?

A. The wizard predicts that 2008 will be a year of accelerated change in areas you may not have given much thought.

1. For instance, upon graduation from college/university, the tail end of Gen “X” and the emerging Generation “Y” will begin to migrate overseas due to rapidly emerging global opportunities. In the short term, this will open more doors for the older workforce. As the years rush by, it is possible that these ex-pats will stay abroad for their lifetimes and they will be sending money home to their aging parents who have not saved enough for their own futures.
2. Evolutionary technologies and new terminologies will become a part of your daily life and vocabulary. Get ready. Read about Google’s Wisdom of Clouds that is in the first stages of boosting interglobal communications. Study the start of wireless technology that will improve our thought processing. Rejoice as new medical breakthroughs begin to improve the aging process by extending the quality of your life and the processing of impaired brain pathways. Smile as America moves beyond implanting spare parts into humans to implanting spare parts into our household pets’ aching elbows (or knees). Keep in mind that all these changes may affect you, and your career, very soon.
3. Prepare as “tens of millions of American workers experience an element of job insecurity that has heretofore been reserved for manufacturing workers,” according to the Vice Chair of the Board of Governors of the Federal Reserve System, Alan S. Blinder. He continues by adding that “the cheap and easy flow of information around the globe… will require vast and unsettling adjustments in the way Americans and residents of other developed countries work, live and educate their children.” Get ready. You will see more of this effect in 2008.
4. Workers over the age of 45 will account for 40% of our workforce in 2008. A few short years from now (2012), the march of time will find workers over the age of 55 approaching 20% of our workforce. As one result, the word “retirement” itself is on its not-so-merry way to retirement. As a second result, organizations that have been dragging their feet in hiring older workers will change their ways BUT many mature workers will only be engaged to fill project needs and job insecurity will still rule. Get ready now.
5. My second to last prediction, for purposes of this short newsletter, may be a bit premature but I ask you to watch the advances in the robotic workforce with me. Read about Japan’s efforts in this area. Future workers may collaborate with robots or be replaced by them. Advances may happen sooner than you think, and they may affect your chosen career in a very few years.
6. I am adding the “big” prediction I missed last year when I forecasted phased retirement to be embraced long before the end of 2007. Here it is again for 2008.

Want to know how we did with other predictions for 2007? Go to our website and to the archived newsletters. I think you will agree that we were at 80% in terms of accurately predicting workforce/workplace related events in 2007.

Q. What will the Ageless in America team be doing in 2008?

A. Carleen and Brad tell me that they are deep in the process of writing their next book – The Return of the Boomers - in collaboration with several nationally known experts in financial planning, risk management, leadership and mature lifestyle strategies. They are booked to stand on many stages across the nation and both will work with their respective state organizations (California and Arizona) on mature workforce issues.

There are early plans to incorporate e-learning and other media methods for presenting their materials in response to customer preference. One example is that in order to accommodate the high demand for the MYTH CARDS, MYTH PAMPHLETS will be available soon at an even more affordable price than the current Flash Card sort.

As part of Carleen’s and Brad’s social commitment in 2008, they will help other organizations to succeed by creating services and products for their use. They will continue their demographic updates for current clients and spend more time at USC and Stanford games.

Q. What are your own hopes and plans for the future?

A. I hope for and plan to prepare to leave our world a better place (I am not planning to leave as early as 2008). But, let’s talk about us. Allow me to borrow a theme from Star Wars for us both. If the Jedi were to offer words for a 21st century update to their creed on our behalf, it might read:

If you are 65 today, you have an average life expectancy of 17.9 years (19.2 for women and 16.3 for men). The likelihood of a 65 year old surviving to the age of 90 has doubled over the past 40 years. Do you have enough money for the journey if you don't work later in life than planned?

The shape of the America that is yet to become is my charge;
No threats or weakness shall turn me from my task.
I give my children, and yours, my pledge and reaffirm my charge
that I will willingly help them create the future they deserve.

For the rest of my life, however long or short,
the Force will guide me;
and I will answer to that higher power in the end.

May the Force be with you
and with us all.

agelessinamerica.com

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