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Reinventing retirement in the insurance industry

Retirement deserves a revamped definition — one that honors retirees’ goals and needs and supports businesses' growth.

By Sharon Emek | January 14, 2020 at 05:00 AM
But many employers aren’t yet prepared to replace them, resulting in a growing talent gap. Many employers are not prepared to replace retirees, resulting in a growing talent gap. (Photo: Shutterstock)

Baby boomers (born roughly between 1946-1964) are exiting the workforce in droves — as 10,000 of them turn 65 every day. But many employers aren’t yet prepared to replace them, resulting in a growing talent gap.

Industries like insurance are particularly vulnerable because boomers are retiring at the same time there’s a shortage of millennials entering the industry. This shifting dynamic has become a hot topic — one that is shining a light on boomer retirement and its impact on businesses and the economy.

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