Safeguarding the Intellectual Capital of Baby Boom

It’s no surprise that the impact of mass retirement will soon be felt in workplaces all over the nation. And that impact will take the form of a skills shortage. By 2010, baby boomers (those born between 1946 and 1964) will be retiring in droves. Every day, 11,000 boomers turn 50. The eldest of this group turned 60 in 2006.

There are some extremely compelling reasons for giving the concerns of boomer employees top billing. There will not be enough younger workers to fill the void of those departing. So rehiring or retaining older workers is a viable solution to short- and long-term staffing dilemmas, by ensuring that your experienced staff transfers its knowledge and skills to younger workers.

Further, it is fundamental to note that the employees who feel valued tend to remain loyal, and this is the best way to keep your intellectual capital in your own camp. You will have a clear competitive advantage if you invest time and effort in the care and nurturing of your boomer employees’ cumulative brain power,
talent, and skills.