I have to admit, I'm fatigued about hearing and reading aboutmillennials.

I'm also growing weary of hearing just how old the Baby Boomergeneration is getting in our workforce, and how retirements enmasse are inevitable. I know that millennials are now the largestgeneration. I know they now outnumber all the generations inthe workplace. I also know that they will work in the risk andinsurance industry and in government where I work, despite thosebeing two “old school” employers' that lack glamour andpizzazz.

Outflux of critical expertise

In the City of Los Angeles where I work, we have about 40,000employees. According to Mayor Eric Garcetti's budget summary fromlast year, “By 2018 approximately 46 percent of the City'sworkforce will be eligible to retire. This impending outflux ofcritical expertise and institutional knowledge threatens toseverely hinder the City's ability to provide vital services.”

I know the insurance industry has an aging workforce aswell, and global management consultancy McKinsey & Co.estimates that 25 percent of its workforce will be of retirementage by 2018 — and that the age of the workforce 55 or older hasincreased by 74 percent in the last 10 years, compared to a 45percent increase in the overall workforce.

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