Business executives are aware of the aging workforce, but are not prepared.

Managers recently surveyed by AARP are aware fundamental shifts will occur in the workplace as the Baby Boomers approach traditional retirement age. Few, however, say their companies have taken action to mitigate the potential impact.

Specifically, of the 1,055 executives surveyed:

-79 percent agree that the knowledge and experience that older employees take with them when they retire or leave can hurt a business financially

-74 percent similarly agree that it has become more difficult to find and retain talented and qualified employees over the last five years.

Dr. Marvin Copes is Education/Community Service Volunteer for AARP