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"The Canadian Chamber of Commerce’s report, Canada’s Demographic Crunch: Can Underrepresented Workers Save Us?, examines the great challenge that a rapidly aging population and workforce will pose for Canada’s business competitiven

Knowledge Management placed second in a report released by Manpower discussing the top 10 challenges faced by the working world for 2010.

From the report:

Knowledge Management – Are you letting critical information walk out the door?

According to the study "Canada to 2058: Projections of Demographic Growth & Change for Canada and its Regions" by The Urban Futures Institute the first of the baby boomer generation will begin retirement in 2010.

The report predicts that the number of Canadians at the retirement age of 65-74 will rise from 2,406,698 in 2008 to 2,992,521 in 2013. They estimate that the population reaching that retirement age bracket will continue to quickly rise, reaching 5,652,974 Canadians by 2058.

"A new report released [December 17, 2009] sounds the alarm for [Indiana] businesses dependent on Baby Boomers and their experience. While many nearing retirement are currently staying in the workforce longer to make up for lost savings amid the economic downturn, that trend will not last forever.  This will leave employers - sooner rather than later - with a loss of institutional knowledge and expertise.  Critically, some of the professions to be the hardest hit are the ones in which a shortage of qualified workers already exists."

According the talent management study, The Pressures of Talent Management, by the Sloan Center on Aging & Work At Boston College, U.S companies are not prepared to deal with the exodus of aging workers.

"The out-migration of an entire generation of workers will upset the entire balance of the workplace... Knee-jerk reactions to today’s challenging economic reality aside, US companies need to start planning strategically for workforce sustainability. The current abundance of older worker talent and experience is going to dry up, and businesses will very soon need to fill hundreds, if not thousands, of jobs.” - Marcie Pitt-Catsouphes, Director of the Sloan Center on Aging & Work and report co-author.

The "Report on Population Crisis"  outlines the looming population and labour shortage crisis facing Nova Scotia. The report is the first phase of the Chamber's long term effort to address the population and labour market challenge with a program that is called the "People Strategy Project".