A record-high 11 million jobs are waiting to be filled across the U.S. This boom in available openings? You can thank the Baby Boomers.

According to Pew Research Center, the rate of retirement in Baby Boomers has accelerated since the start of COVID-19 with almost 29 million boomers retiring in 2020 – An increase of more than 3 million from 2019.

With 75 million Baby Boomers retiring by 2030, The Great Retirement is looking to supersede The Great Resignation as the biggest hiring trend for 2022. Here’s what you need to know:

How will Baby Boomers retiring affect the workforce?

One in four workers in the U.S. is a Baby Boomer, amounting to 41 million total employees. This trend of mass retirement will lead to an even wider workforce gap as companies race to fill positions left by retirees. As these workers also normally hold higher-level management positions due to their extensive working experience, the competition to find replacements will be tough with many businesses turning to recruiters to look for top talent.   

Why are Baby Boomers retiring now?

While Baby Boomers fall in the generation most at-risk for COVID-19, the main driving factor for retirement isn’t health-related. They’re looking for a better quality of life.

Famous for their strong work ethic and dedication (40% have stayed with their employer for more than 20 years), Baby Boomers commit to their jobs more than any other generation. After 40+ years in the workforce and a global pandemic, they’re re-evaluating their work-life balance. With quarantine rules keeping them at home but isolated, many are choosing to trade in their 9-to-5 for more time with friends, family, and to travel.

Those most likely to retire early? Women over the age of 65 are the group with the most retirees while the Hispanic Boomer population saw the biggest increase in retirement rates. Boomers residing in the Northeastern U.S. also saw a large increase in those retiring.

What can be done to prevent a workforce gap?

While Boomers may want to spend their golden years away from the office there is a silver lining to The Great Retirement: There’s a whole new generation (and two others) ready to work. Investing in these workers and supporting their development will be crucial to closing your workforce gap. Here’s how to attract and retain young employees:

1. Offer flexibility in the workplace

Gen X workers and Millennials are often working parents or caregivers to their parents or grandparents. With quarantine rules and distance learning changing often and suddenly, you’ll need to be supportive of employees who are pulling double duty working and taking care of their family during the day. Offering more flexibility to parents by letting them work from home and by measuring their performance on results (not hours worked) will help retain valuable employees who won’t have to choose between family and their job.

2. Close skills gaps with reskilling and upskilling

Younger workers, especially Gen Z, won’t have the decades of experience that retiring Baby Boomers have. Instead of brushing-off young talent for a lack of skills, take the time to train them on the skills they need. If your company doesn’t have a formal training program ask them to enroll in online courses like our Aspire Academy. There are dozens of training courses available at no cost.

3. Mentor, don’t manage

For many young people, a position in your company may be their first professional job out of college. They don’t just need a salary but need guidance on how to progress in their careers. In a recent survey, younger workers reported wanting feedback from their managers more frequently than their older colleagues signifying they need more support to know they are doing their jobs correctly. They also rank mentorship among the three most important aspects of choosing where to work. Setting up a mentorship program will not only attract top young talent but keep them engaged and loyal to your company.

Is your company feeling the effects of The Great Retirement? At Adecco, we pride ourselves on finding and connecting top talent with the right opportunities. Learn more about our staffing solutions and keep reading our blog to discover the other top hiring trends for 2022.

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Why aren’t you working right now?

5 million Americans say there’s one big reason: They’re caring for children who aren’t in school or daycare.

Frequent COVID-19 outbreaks are creating unexpected school closures and quarantines – and 80% of daycare centers report that they’re struggling to find enough child-care workers.

And the resulting juggling act for parents has hit their careers hard. Families are getting frazzled, and many women’s careers are being put on pause (Nearly 1.6 million mothers have left the American workforce in the pandemic era, leading to the lowest female participation rates since the 1970s). In turn, employers are finding it harder to hire and retain talent.

At Adecco, we believe the pandemic is an opportunity to reimagine work, and part of that is rethinking that elusive work/life balance. Below, learn what employers can do to attract and retain working parents.

Instill a family-friendly culture

Reduce stress and anxiety for working parents by ensuring your managers have the right mindset. Refocus their thinking on the value working parents bring to the table, including adaptability, leadership, and empathy. Supervisors can be more understanding of disruptions caused by sick children and daycare surprises (which are often causes of absenteeism and turnover). If you can, consider offering stipends for daycare or educational expenses. And – crucially – make sure employees exercising these benefits don’t face stigma or other barriers.

Meet parents where they are

Avoid making assumptions about what you think is best, and let parents take the lead. Make sure they feel comfortable telling you what accommodations work for them and which ones don’t by conducting listening sessions and anonymous surveys. When employers let parents decide what they can take on, they can stop the vicious cycle that can stunt parents’ career growth or cause them to stay out of the workforce altogether.

Measure performance on results, not hours

In workplaces where staying late is more important than the work getting done, parents can really struggle. Establish meaningful performance metrics based on merit, not hours. Discourage presenteeism and ‘busy metrics’ that could exacerbate burnout and turnover. These types of expectations can leave parents labeled as not committed or excited about their jobs. In turn, they can miss out on big projects or opportunities to advance their careers. Again, this is another area where employers can step up and make an effort to create pathways for parents to advance and grow in their roles.

Rethink location

Parents tend to make location decisions based on school districts, housing costs, and their neighborhood or community. On the other hand, employers may prefer big cities or major industry hubs, but these may be precisely the districts working parents would rather avoid. While incentives like relocation packages only work for those with the flexibility and freedom to relocate geographically, opening up to more hybrid or fully remote positions can be key to getting fresh and committed talent.

At Adecco, we believe a diverse and welcoming workplace is key for every business’s long-term success. For more insights on the complex, unfolding issues shaping our working world, download our research paper, Resetting Normal: Defining The New Era Of Work.

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Good-bye pajama pants – hello necktie?

Even before the pandemic, cultural transformations were pushing many American businesses away from formal attire. From Goldman Sachs to JP Morgan, even the most traditional stalwarts were relaxing dress codes in the hope of encouraging innovation, creativity, and individual autonomy. As workers return to the office after 18 months of working in sweatpants, the thought of returning to pre-pandemic wardrobes feels dull and oppressive to many. To help your employees make the transition – and avoid awkward fashion faux pas – you should be proactive and set clear standards.

Below, read six steps you can take to get your company’s back-to-work dress code just right:

Start with why

Many may not enjoy giving up their freedom, but your people will find your policy easier if you can provide a good reason for it – you can even consider asking for their input. For example: Just as our doctor’s scrubs and stethoscope gives us trust in her competence, the right office attire can boost your clients’ confidence in your people’s professionalism, creativity – and what your brand stands for.

Choose attire that reflects your brand

Is your culture creative and ‘start-up’? Or is it more staid, traditional, and corporate? By matching your brand ethos and corporate purpose, you can appeal to the people you want to hire and retain. Conventional thinking says that a more formal dress code will encourage your employees to take their work more seriously. But it can also stifle individuality. On the other hand, a casual dress code can give employees freedom to be themselves, serving as an attractive recruitment perk and retention mechanism.

Be clear

Your client-facing workers will have different expectations than those working in your contact center. An effective dress code is easy to understand and not open to individual interpretation. Give specific, visual examples of which clothes work and which clothes don’t. What does ‘business casual’ mean in detail? Does ‘casual’ include flip-flops and baseball caps? Make sure you explain and document your dress code policy in your employee handbook and on your employee intranet. And remember, certain employee segments like second-chance hires, younger workers, and workers who have been remote for a long time.

Build in wiggle-room

After the tumult of the pandemic, workers need re-energizing and may want to ‘dress happy.’ Before setting a prescriptive dress code, ask yourself: is this rule necessary? What’s the business reason? Do the benefits of having a polished-looking workforce outweigh the benefits of allowing your employees to feel comfortable in their own skin at work? Giving employees some freedom is a straightforward way to help them feel happier and more in control as they return to the office.

Be fair

You can use your dress code to stand against the subtle forms of discrimination that can creep into any workplace. For example, people of color regularly face discrimination in corporate America simply for wearing their natural hair to work. Other policies ruling out head coverings can discriminate against followers of certain faiths. And cultural norms around appropriate ‘male’ and ‘female’ clothing can exclude gender non-conforming employees. Use your dress code to make it clear that differences are something to celebrate in your workplace. And always have your legal team review any policies before sharing.

Don’t shy away from enforcement

A policy is useless if not enforced. Make sure your workers understand the repercussions of non-compliance, with appropriate and well-documented reprimands. For a first-time offense, a quiet word is probably enough. But if employees are repeatedly failing to follow the rules, you’ll have to react swiftly and firmly to uphold standards.

Clothing still matters, and perception is powerful. Creating an office dress code that’s fair, flexible, and enforceable is not easy, but we can help you find the middle ground between sneakers and dress shoes.

Learn more about how we help businesses of all sizes navigate today’s tricky labor environment. And for more insights on the complex, unfolding issues shaping our working world take a look at our freshly launched research Resetting Normal: Defining The New Era Of Work.

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