Retaining Staff: Baby Boomers
Finding the right talent to fill your business demands will be more and more challenging. Before companies were happy to retire their old workers because the younger generation was plentiful. That’s not the case anymore. Now there are several generations residing in a workplace and their needs are different.
The Baby Boomers are still an integral part of the workplace, and companies want to keep their senior employees, yet their needs are now different. In managing employees, you need to be creative to retain several different generations and still meet your business needs. Boomers, whether they have to or want to work, will look for more flexibility as they are no longer building a career.
“Retaining Staff in a changing environment: Part 1″ by Brian Gardner on LeadingCompany starts to address this issue.
As the Baby Boomer generation of approximately 76 million people worldwide begins to retire, there will not be enough people in the next generation of 46 million Gen Xers to replace them.
Retaining staff is always a critical priority for a manager and it will only get more challenging. Even in a struggling economy, there are less people available. If you had 50% of the Baby Boomers retiring, there isn’t enough of Gen Xers to replace them. Work still needs to be done.
If Baby Boomers are still critical to your business, then come up with a strategy that fulfills your business needs as well as answer this generation’s changing work requirements.
Be well,
Pat
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