Often when we talk about the big, world changing trends that will shape our future, we focus only on technology. But, for me, the single biggest challenge facing us all in the next ten years is the retirement of the generation known as Baby Boomers.
It was previously expected that 2011 would mark a turning point in global demographics with Baby Boomers reaching retirement age. This has partly been ameliorated due to the global financial crisis which saw retirement savings slashed. But time waits for no man (or woman) – and the coming years will see drastic changes in our workplaces. Not only will we begin to lose corporate knowledge, business experience and capabilities – it will be replaced by a younger generation – the millennials (or Gen Y/Z) – with vastly different priorities and expectations.
The shock waves that radiate from this change will impact almost every aspect of our lives. This infographic from OnlineGraduatePrograms.com sums up some of these impacts nicely (with thanks to R Ray Wang). But think beyond the figures – think also of the behaviours – for that’s where the real change will hit us full force. Get ready.