Cecily O'Connor   
RedwoodAge.com

Concern about the effect of baby boomer retirements is now outweighing key business issues, such as cultivating global business, in the minds of corporate leaders.

Nearly half of senior executives said boomer retirements will have the greatest impact on the workforce over the next decade, according to a survey by Robert Half International, a staffing services firm. Other top concerns among the 150 executives surveyed centered on global business interactions and outsourcing. 

Even as business leaders worry about the looming brain-drain, many baby boomers are considering working past the traditional retirement age to stay active and continue earning,  said Robert Half CEO Max Messmer, who is also the author of "Human Resources Kit For Dummies."

That's not to say that companies can readily count on boomers working longer. It's up to businesses to accommodate valued staff members who are not ready for retirement and want to seek new work arrangements, such as flexible or part-time schedules, Messmer said. 

A recent study found that the oldest boomers, who will turn 62 in 2008, are well-prepared for entering their retirement years, but "trailing boomers" between 44 and 55 are in the midst of padding their retirement savings and looking ahead at work arrangements that will accommodate their needs.

"Consulting arrangements allow experienced individuals to remain challenged professionally while maintaining the flexibility to pursue outside interests," Messmer said.

Some companies have long been addressing workplace shifts. Boston Scientific, First Horizon, The Aerospace Corp. and Weyerhaeuser are among businesses that have implemented various programs such as retirement workshops, apprenticeships and flexible work arrangements to ensure talent gaps are filled. 

On the academic front, community colleges are developing programs to help boomers prepare for second careers in critical service fields.