Workplace Slideshow: Is an IT Retirement Crisis Looming?

By Dennis McCafferty  |  Posted 02-03-2011
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65 percent

65 percent

65 percent of overall (including IT) workers aged 60 or older polled by CareerBuilder say they're putting off retirement because they can't afford it; 72 percent said so last year.

These days, you are likely so overwhelmed by the number of job applications from out-of-work IT employees that the last thing on your mind is a talent shortage. But two recent surveys, from CareerBuilder and the National Association of State Chief Information Officers (NASCIO), reveal that this situation may very well surface within the next several years. That's because more members of the Baby Boomer generation say that they'll be ready to retire within that timeframe. The CareerBuilder survey indicates that, even as the recent Great Recession has forced a clear majority of older employees to put off retirement, such financial concerns are clearly on the decline. The NASCIO survey indicates that retirement-caused vacancies are on the radar of state CIOs, and many feel they can't offer the level of pay needed to fill those slots. More than 500 U.S. workers aged 60 or older took part in the CareerBuilder survey. CIOs from 40 states, the District of Columbia and a U.S. territory took part in the NASCIO survey. Here are highlights from both surveys:

Dennis McCafferty is a freelance writer for Baseline Magazine.


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