Retiring Baby Boomers Will Effect The Bottom Line
Posted October 24, 2007
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As indicated by recent studies, the mass exit (retirement) of baby boomers could have a marked effect on the productivity at many corporations unless companies intensify their efforts to develop younger talent. The skills and institutional knowledge lost when older workers retire won’t easily be replaced. Management shortages already are appearing in some sectors that have experienced a number of early retirements, including utilities and among hospital nursing staffs. Unfortunately, the post-war generation defined work as a way to be a winner in the game of life. These same baby boomers have been hesitant to hand over the reins, forcing many organizations to keep younger workers on the sidelines. |
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