Companies must plan to fill void left as boomers retire

Expect a lot of changes with the retirement of the baby boomers coming up. This could drive up wages and increase the competition to get the best employees. Also it will create new opportunities for businesses that cater to the baby boomers.

If you own a smaller business and are flexible this could also be a major advantage. You could offer retirement aged baby boomer's a more flexible schedule, maybe part time work, or even work certain times of the year. That way you get their expertise and they feel more freedom to purse other activities in their off time.

This will be easier for you as a smaller business than big corporations that have a hard time adjusting to changes in the employment marketplace.