ane of the biggest problems that companies result be facing in the next ten years exit be a loss of long-term company association due to retirements and as well a shortage of dominance employees to fill these positions. Since 1980, the number of U.S. workers oer the age of forty has increased significantly. By 2010, more than 51 percent of the workforce is expected to be forty or older (Mosner 5). Over the next 10 years, 76 jillion baby boomers pass on retire, with only 46 million younger employees in line to replace them. Not only is the unembellished numbers gap alarming, but a serious onlyude lies in replacing the skill set and integral knowledge that employees have mastered from years of work (Lesser 1). While this will be a gradual event, it will have the potential to have a large impact on all organizations. Employers must prepare for the decline of younger replacement and the maturement number of workers over 40. If these issues are left unaddressed, the implications on productiveness and economic growth could be significant (Mosner 3).
When beginning to throw for this eventuality, companies need to first look at individual positions and groups where incumbrance is most important.
As individuals progress through their careers, they often fortify unique insights that are difficult to replicate (Lesser 1). Companies can do several things to offset this problem. One of the first would be taking over planning. Organizations need to develop a pool of suitable candidates who will eventually step into leadership roles. These candidates must be inclined opportunities to develop the necessary skills to be the next leaders of the organization. One way to help develop these candidates is through knowledge transit programs, which will help capture key information from executives and practiced talent who may be planning to retire (Sullivan 2). This will help ensure that the company retains this vital information.
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