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Employer Quotes
The quotes below are from employers in this industry: Financial Services
They are talking about this topic: Workforce Trends & Challenges
The quotes below are about this issue:
Employers speak of the aging workforce, expressing concern about succession planning in the banking industry. Employers are open to hiring retired workers seeking a career change and more flexible hours.
| "I think what we're going to see in the future are people reaching 60 and saying, 'I don't want to work as hard as I've been working, but maybe I'd like to work at a lower level. Maybe at 25 hours a week.' I'm encountering a lot of people my age that are thinking that right now. They want more free time and not this, 'You're overqualified for this job,' when it's exactly what the person may want: an entry-level job they can do without stressing themselves out and still make some money. And maybe get healthcare...maybe not." | Central |
| "Actually, I think the demand is probably a combination of a growing economy, hopefully, and people like me retiring. Especially the next 10 years." | Central |
| "Employer 1: I have a question. Older generations, somebody who got laid off—and I'm talking late-forties, fifties, sixties, whatever—I mean people are having to work longer and longer. What are you seeing there and are there opportunities for jobs? Employer 2: All kinds of them. I'll hire all I can get if they've got the skills." |
Central |
| "Employer 1: The other thing that I've had conversations about is the natural demographics; many people are getting ready to retire. But retirement was largely delayed by the economic meltdown, and so now—with the recovery—the issue of employees retiring is amplified. And it's a workforce issue for the state. Employer 2: It is. And if you add to that—for this profession—how we're losing those people in the middle, it means weren't not prepared with a feeder system for more senior positions." |
Metro |
| "We have a lot of older people in our profession who are about to retire. It's a huge issue. We're seeing it in all our competitors, too. And I think the CPA profession has done studies and there's this huge gap that's coming. There's no doubt about it. It's going to cause a lot of consolidation among some of the smaller players because some of the smaller firms haven't planned very well for this transition. And they have no one underneath them to take over the firms and follow the traditional model where someone takes over the retiring partners. It's a big concern." | Metro |
| "One thing I do hear about is succession planning and the aging workforce throughout Minnesota and in our banks. So, it's planning for the future." | Metro |