Companies Must Address Urgent Succession Planning Now for Upcoming Baby Boomer Retirement

NEW YORK, NY, Feb 19 (MARKET WIRE) --
FPC's recruiters have been seeing the effects of the baby boomer retirement
wave
expected in the next 5 years, when 76 million will leave the workforce
according to the Bureau of Labor and Statistics (BLS).

Ron Herzog, CEO & President of FPC, said, "USA Today online noted that the
first
boomer had received the first social security payment and put it in these terms
--
10,000 people retiring each day. There are not enough people coming into the
workforce to enter those open jobs -- and that does not even include the
additional jobs added due to the projected long-term economic growth."
Unfortunately, the BLS projects that the pool of workers following the boomers
is smaller.

Bill Martin, FPC's highest producing franchise owner in 2007 and President
of FPC
of Greensboro, added, "Our clients haven't been able to find enough qualified
grads to
fill this pipeline so they are seeking people to back-fill the pipeline with
2-3 years of experience. About 20% of our recent placements are baby-boomer
replacement positions and we expect that to increase."

Why is this so urgent?

"Retiring people are typically in management or technically complex
positions.
This is particularly the case in manufacturing positions, with steep learning
curves," said Mr. Martin. Mr. Herzog added, "Companies need new employees in
those jobs now in order for them to develop the skills needed by the time the
boomers retire."

Who is Being Hit the Worst?

"Many of our clients are manufacturing companies, which will be hard hit due
to their large number of older employees in management," noted Mr. Herzog.

What Can Companies Do Now to Prepare?

Mr. Martin responded, "Unless those jobs being vacated are filled
pro-actively,
those employees left behind will have to pick up the extra responsibility --
creating a number of other employee-relations issues. That means hiring
professionals with 2-3 years of experience now, what we call
'high-potentials.'"

Mr. Herzog summed up the situation, "The bottom line is the companies need
to
address this retirement crisis now in order to remain competitive."

About FPC

FPC (Fortune Personnel Consultants) is a network of more than 65 franchise
offices.
Forfurther information, call 800-886-7839 or visit www.fpcnational.com

CONTACT:

Yasmeen Anderson
Marketing, FPC
800.886.7839

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