"Brain Drain" 2006

You have probably realized that we are well into the 2006 year. But, do you know that 2006 is the beginning of the baby boomer "brain drain?" Yes, this is absolutely true! The eldest of the baby boomer generation (1946 through 1964) are turning 60 years old this year. So, after all the candles on the birthday cakes have been blown out and the last fragments of wrapping paper picked up, let's examine the effect this is going to have on businesses and training trends nationwide.

According to Candace Fisher, Manager of Education for The Management Association of Illinois, this "brain drain" transition has been talked about by statisticians and management consultants for several years. This is all well and good, but what has your organization done to prepare for the mass exodus of experienced staff and the need to replace all the knowledge, skills, and abilities that they will take with them?

In a recent survey conducted by the AARP, a nonprofit membership organization for persons age 50 and over, over 70% of the baby boomers are planning to work, at least in some capacity, well into their retirement years. You might think this is good news, and to some degree it may be, however, it generally is only going to postpone the impending massive "brain drain" predicted to hit the American workforce.

There are several factors that an organization should consider as they prepare for retirement of the baby boomers:

1. Consider revising policies and procedures that will provide more flexibility and incentive for those close to retirement to extend their tenure on the job. For example: flexible hours, part- vs full-time work, or seasonal work.

2. Develop mentoring, coaching or training sessions where the experienced teaches the less experienced what they have learned.

3. Implement train-the-trainer programs where the baby boomers teach, coach and mentor the less experienced as the organization's next trainer.

4. Analyze the age demographics within your own organization to understand the impact of "brain drain." Immediately implement a plan to minimize the long-term effects of baby boomer retirement before it begins. Do not wait until baby boomers start giving notice or taking advantage of early retirement programs to take action.

The effect of baby boomer retirement will be different for each industry and organization. While it may be difficult, at best, to preduct what your organization will experience it is clearly the time to start planning now instead of waiting for something more tangible (and more painful) to appear. You may wish to solicit the feedback from selected baby boomers in your organization that have a strong vision for the future and can help you put together an industry-appropriate coaching and mentoring program.

Source: http://WeTrainU.blogspot.com

Copyright M. A. Webb, 2004-2006. All Rights Reserved

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