This Week's Herman Trend Alert The Consequences of Virtual Meetings

The Herman Trend Alert August 12, 2009 The Approaching Senior Surge In our book "Impending Crisis: Too Many Jobs, Too Few People", we talked about the senior boom that would drive the economy. Beginning in 2012, the Baby Boomers (born 1946 to 1964), 76.4 million strong, are approaching their 65th birthdays. As their saving-minded parents, pass away, they will inherit billions of dollars. In fact, according to a report from the McKinsey Global Institute, maturing Boomers will be the most affluent demographic segment in recorded history. McKinsey believes their money will represent 40 percent of all of the transactions in the United States in the next decade. Imagine the political clout they will have! At this point in time with our contracted economy, Baby Boomers are spending less and saving more. When the recovery gets here and their investment portfolios return to reasonable levels, we will see a significant release of these funds. Some marketers are forecasting significant shortages of computers and automobiles, due to reductions in capacity. Before the current downturn, we had seen record interest among seniors in "re-careering" to lower-paid less-stressful jobs. For now, we are seeing them choosing to stay in their current position as long as possible. Wise companies are looking for ways to capitalize on this valuable population segment without alienating the Generation Xers who want to move up. Once this recession is history, expect to see a return to previous attitudes and actions. By the year 2030, more than one-fifth of the US population will be over the age of 65. They represent a phenomenal opportunity to marketers well-positioned to sell them goods and services. Besides the obvious healthcare needs, the affordable housing industry will be the beneficiary of this aging Boomer market as will a wide range of other service suppliers. Affluent seniors will be in the market to buy numerous services to handle tasks they simply do not want to do themselves, including running errands, food shopping, and cooking. The national and local opportunities presented by this Senior Surge are unprecedented. Enlightened marketers are already preparing to address the wants and needs of this lucrative group and positioning themselves for success with this growing market segment. © Copyright 1998- by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Roger Herman and Joyce Gioia, Strategic Business Futurists. (800) 227-3566 or http://www.hermangroup.com. The Herman Trend Alert is a trademark of The Herman Group, Inc." BACK BY POPULAR DEMAND: RETENTION SPECIALIST PROGRAM A growing number of people have expressed an interest in attending our Employee Retention Specialist Certificate Program. We'd like to schedule on that's convenient for those who want to attend, but need your feedback to do so. Please place RETENTION SPECIALIST in the subject line and Joyce will personally call you back to schedule the workshop. Or you can call Joyce directly at 336-210-3548 (PDT this and next week). BUSINESS IS PICKING UP Most employers are unprepared. The recovery will bring a new set of challenges for employers that have been in prolonged contracted mode. They will need more skilled workers or will need now to begin to upskill their current staffs. But organizations can not engage in Strategic Workforce Planning, when they don't know how. That's where The Herman Group can help. We can help you with your "People Review"----large or small---so that you will know who you will need and when you will need them. . . and we can also guide you to the best sources for the people you will need. For more information, call Joyce at 336-210-3548 or e-mail joyce@hermangroup.com. FIND OUT WHAT YOUR EMPLOYEES REALLY THINK AND FEEL Discover what’s really going on in the hearts and minds of your employees. Our InnerViews interviewing service uses SPHRs and PHRs, certified human resource professionals to probe for the information you really need to know. Exit and Stay Interviews, as well as Why-Didn't-You-Take-Our-Offer Interviews. Call Rosalie Catalano at 937-416-7066, or read more at: http://www.hermangroup.com/retentionconnection/exit_interviews.html. Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers. New subscribers are welcome. There is no charge for this public service. The Herman Trend Alert is received by over 30,000 subscribers in 78 countries, in addition to other websites and printed magazines. Do you enjoy receiving this weekly e-mail update? Contact us about our co-branded Trend Alert service. Click here to sign up for the Herman Trend Alert. Subscribe or Unsubscribe to weekly Herman Trend Alert View this week's Herman Trend Alert Archived Weekly Herman Trend Alerts

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