FPC advisory: Manufacturers need to plan now for 76 million boomer retirements 

New York-based FPC (F-O-R-T-U-N-E Personnel Consultants) says manufacturers are ill prepared for the the massive baby boomer retirement wave expected in the next five years. "The mass retirement wouldn't be so bad if there were enough people coming into the workforce," says Ron Herzog, CEO and president, FPC.

02/27/2008


New York-based FPC (F-O-R-T-U-N-E Personnel Consultants) says its recruiters already are seeing early nationwide effects of the massive baby boomer retirement wave expected in the next five years. In total, 76 million are expected to leave the workforce, according to the Bureau of Labor and Statistics (BLS).
"The mass retirement wouldn't be so bad if there were enough people coming into the workforce to enter those jobs left vacant due to the retirements, but those vacancies being discussed do not even include the additional jobs resulting from projected long-term economic growth," says Ron Herzog, CEO and president, FPC.
Unfortunately, the BLS projects the pool of workers following the boomers is smaller, aggravating the situation even more. "HR departments and hiring managers nationwide will be challenged to find enough qualified people to fill those positions once the retirements start. FPC recruiters say some HR professionals are addressing this issue now," says Herzog.
According to Bill Martin, FPC's highest-producing owner in 2007 and president of FPC of Greensboro, S.C., "Our clients haven't been able to find enough qualified grads to fill this pipeline, so they've partnered with us to find people to back-fill the pipeline with two to three years of experience. Just about 20 percent of our recent placements have been baby-boomer replacements, and we expect that number to increase."
But why the urgency?
"It's there because people of retirement age typically are in management or technically complex positions. This is particularly the case in technical manufacturing positions, where the learning curves are steep," says Martin.
"Companies need new employees in those jobs now to develop the skills needed by the time the boomers retire. The urgency is real," Herzog maintains. "Many of our clients are manufacturing companies, which are expected to be among those hard hit due to the high instance of employees older than 45 years in management."





The Top Plant program honors outstanding manufacturing facilities in North America. View the 2015 Top Plant.
The Product of the Year program recognizes products newly released in the manufacturing industries.
Each year, a panel of Control Engineering and Plant Engineering editors and industry expert judges select the System Integrator of the Year Award winners in three categories.
Pipe fabrication and IIoT; 2017 Product of the Year finalists
The future of electrical safety; Four keys to RPM success; Picking the right weld fume option
A new approach to the Skills Gap; Community colleges may hold the key for manufacturing; 2017 Engineering Leaders Under 40
Control room technology innovation; Practical approaches to corrosion protection; Pipeline regulator revises quality programs
The cloud, mobility, and remote operations; SCADA and contextual mobility; Custom UPS empowering a secure pipeline
Infrastructure for natural gas expansion; Artificial lift methods; Disruptive technology and fugitive gas emissions
Power system design for high-performance buildings; mitigating arc flash hazards
VFDs improving motion control applications; Powering automation and IIoT wirelessly; Connecting the dots
Natural gas engines; New applications for fuel cells; Large engines become more efficient; Extending boiler life

Annual Salary Survey

Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.

There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.

But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.

Read more: 2015 Salary Survey

Maintenance and reliability tips and best practices from the maintenance and reliability coaches at Allied Reliability Group.
The One Voice for Manufacturing blog reports on federal public policy issues impacting the manufacturing sector. One Voice is a joint effort by the National Tooling and Machining...
The Society for Maintenance and Reliability Professionals an organization devoted...
Join this ongoing discussion of machine guarding topics, including solutions assessments, regulatory compliance, gap analysis...
IMS Research, recently acquired by IHS Inc., is a leading independent supplier of market research and consultancy to the global electronics industry.
Maintenance is not optional in manufacturing. It’s a profit center, driving productivity and uptime while reducing overall repair costs.
The Lachance on CMMS blog is about current maintenance topics. Blogger Paul Lachance is president and chief technology officer for Smartware Group.
The maintenance journey has been a long, slow trek for most manufacturers and has gone from preventive maintenance to predictive maintenance.
This digital report explains how plant engineers and subject matter experts (SME) need support for time series data and its many challenges.
This digital report will explore several aspects of how IIoT will transform manufacturing in the coming years.
Maintenance Manager; California Oils Corp.
Associate, Electrical Engineering; Wood Harbinger
Control Systems Engineer; Robert Bosch Corp.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
click me