Back in 1999 and 2000, I spent a lot of time doing demographic studies for our clients that were trying to understand what their employee and customer demographics might look like in the near future. We all knew it was coming; the “Baby Boomers” were about to check out of the professional world and check into the world of retirement. These customers asked me a lot of questions: How will that impact us? How do we train new employees? How do we harness their experience and wisdom now so that our businesses stay knowledgeable and ready to meet the needs of our customers? It was an interesting conversation to say the least.
Then, on September 11, 2001, our country was attacked and the world changed in a way that cannot even be described. And as our economy took a downturn and Baby Boomers suddenly saw massive losses in the value of their retirement portfolios, many of them decided that they needed to stick it out and retirement was put on hold, at least for a little while.
Welcome to “a little while.” That time is now and as we prepare for a mass exodus of the most experienced segment of our workforce, we have to ask ourselves, “Are our businesses ready?” Is your business ready?