Economic growth could slow to roughly 2 percent after 2010 unless Americans save more and employers take steps to retain some of their older employees, experts testified at a hearing held by the Senate's special committee on aging on Feb. 28. The slower growth, which is about a point lower than the rate of the last decade, is largely due to the poor growth that is expected to take place in the future labor force, Donald L. Kohn, vice chairman of the Federal Reserve, told lawmakers at the hearing. Sen. Herb Kohl, chairman of the aging panel, called for lawmakers to act now to help employers keep some of their older workers. Kohl introduced legislation that would give employers a tax credit for establishing flexible work schedules that allow older employees to keep their jobs without losing healthcare or pension benefits. Kohl and other legislators also proposed giving older workers more access to job training and COBRA supplemental health insurance, and creating a national clearinghouse for information on hiring and retaining older workers.

No human resources strategy is as important to employees and companies alike as the concept of lifetime learning, defined as the improvement of job skills throughout one's career. Lifetime learning allows employees to update and enhance their skill sets, which in turn allows the employer to keep up with competitors. Thus, many companies are encouraging their employees to participate in lifetime learning programs. These include adult education programs, conferences, courses offered by universities, and summer programs. The subject matter of these programs also runs the gamut, from marketing courses to leadership seminars to conflict-resolution presentations. The courses can be both informative and entertaining--there are seminars that show teachers how to incorporate the use of cartoons in their lesson plans, classes on using humor in presentations, and classes on improving story-telling skills. Junior high and high school students can also benefit from lifetime learning by participating in summer camps on computer design, video-making, and similar subjects.

Employers adopt high-tech training strategies to engage the growing number of Generation Y employees, according to experts. Generation Y is the most rapidly-growing workforce segment, currently making up 20 percent of the private sector. To entertain, teach, and impress those who grew up in the era of gaming and instant messaging, employers are now using computer games and simulations, animated training modules, and video blogs instead of traditional recruitment and training methods. These approaches help new employees memorize job details; the online games and quizzes also weed out those who are adverse to putting in time and effort. The new techniques--used by companies such as Nike, Cisco Systems, and Cold Stone Creamery--accommodate Generation Y's preference for short spurts of information rather than long explanations. Employers are also aware that Generation Y workers typically expect involved managers, rewards, and validation, which forces firms to reform their training strategies to accommodate those expectations. Nike credits its interactive "Sports Knowledge Underground" program with a 5 percent to 6 percent increase in sales. Cisco program manager Jerry Bush points out that after five minutes playing Cisco's binary math computer game, the employee solves 50 problems and is "highly engaged and having a good time."

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