The oldest of the nation's 70 million-plus members of the baby boomer generation -- people born between 1946 and 1964 -- will turn 62 in the next couple of years, becoming eligible for retirement. And, according to the U.S. Office of Personnel Management (OPM), 60% of the federal rank and file workforce will be eligible to retire over the next 10 years, with 40% of that group likely to retire when they reach eligibility. What's more, 90% of federal senior executives will reach their eligibility for retirement in the next 10 years.
This convergence leaves government leaders with the daunting task of filling a large number of the nearly 2 million jobs within the federal government -- not counting the U.S. Postal Service -- while bracing for the loss of some of its most experienced managers. And if these circumstances weren't challenging enough, the federal government and its agencies will have to recruit legions of new talent amid steady competition from companies and organizations in the private sector.
- Student loan repayment
- Flexible work schedules
- Casual dress codes
- Transportation subsidies
- Telework
- Retainment bonuses