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Workforce » Technology

Why It's Important

Baby Boomers comprise a disproportionate share of the labor force relative to their incidence in the population. Their impending retirement could provoke a huge drain of both resources and knowledge for many companies. A lack of preparation for knowledge transfer to younger workers could be catastrophic for companies, organizations and governments. Technology provides many opportunities and solutions to both retaining knowledge and helping older workers remain productive.

See Data By: Richmond MSA | Virginia | National

How Richmond Is Doing

Nearly two in five employers (37%) are currently employing centralized data storage. Centralized data storage can aid employers and employees in knowledge transfer from older to younger workers. (ODP EMPLOYER 2008)
Employers are taking steps currently to address the impending retirement of a large number of workers.

Two in Five Employers Using Centralized Data Storage

(ODP BUSINESS LEADER, 2008)

How Virginia Is Doing

Nearly two in five employers (37%) are currently employing centralized data storage. Centralized data storage can aid employers and employees in knowledge transfer from older to younger workers (ODP BUSINESS LEADER, 2008)

Employers are taking steps currently to address the impending retirement of a large number of workers

(ODP BUSINESS LEADER, 2008)

How the U.S. Is Doing

According to an AAHSA article on The State of Technology in Aging Services, older adults currently account for 60 percent of overall healthcare spending in the U.S. In order to manage the costs of caring for older adults, three-quarters of who suffer from one or more chronic diseases, there is an urgent need for innovative technology-based tools to help manage their health and wellness, to enable them to live independently and maximize caregivers' efficacy by providing timely health information and delivering more effective care.

Older adults currently account for 60 percent of overall healthcare spending in the U.S. Appropriate management of chronic disease in older adults can significantly reduce the U.S. health care bill. Furthermore, 92 percent of these older adults live alone in their own apartments, homes, independent living facilities or assisted living facilities, including about 50 percent of those 75 and older. Such statistics clearly demonstrate an urgent need for innovative technology-based tools that enable older adults to live independently and maximize caregivers' efficacy by providing timely health information and delivering more effective care.

In addition, the U.S. government, through the Office of the National Health IT Coordinator, is leading the development and nationwide implementation of an interoperable health information technology infrastructure to improve the quality, safety and efficiency of health care and the ability of consumers to manage their health information and health care. Several new partnerships have formed, such as Continua Health Alliance, which is comprised of technology, medical device and health care industry leaders dedicated to advancing telehealth solutions that empower people and organizations to better manage health and wellness. These developments have facilitated proliferation of technology products and prototypes. (AAHSA, 2009)