Take advantage of "The Boomers"

Now is the perfect time for organizations to assess their workforce. Strategic business owners and executives should evaluate their workforce demographics and the key positions within their organizations in order to identify current and projected talent gaps. It’s also time to develop programs that will strengthen knowledge retention and sharing throughout the company in preparation for the inevitable “brain-drain” that will occur when the Boomers exit the workforce.

How can employers retain the key knowledge and information that is resident in their workforce?

First, they must recognize who has the knowledge. If they want to hold onto Boomers they must adapt to their needs. Many forward thinking organizations are developing policies and programs geared towards recruiting, retaining, and training older workers. Key options that will help attract and retain these mature workers include flexible work arrangements (such as adjustable schedules and job sharing) and should also part-time or contingent employment options. Fortunately these types of work arrangements require lots of self-discipline and maturity, which the Boomers have in abundance!

Next, companies should institute mentoring programs to help train the next generation of knowledge workers and business leaders. Companies concerned about retaining institutional knowledge can’t afford to have their older employees walk out the door with a career worth of expertise and experience.

Finally, employers must have an honest dialogue with their seasoned team members to help them plan for the next phase of their careers. Companies that demonstrate loyalty towards their older employees by offering flexible employment options, will be rewarded with loyalty in return.