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The Boomers are filling up an “age bubble” in the workforce such that there are many more people at or near the ordinary age range for retirement. Employers in every industry will be struggling to attract, motivate, and retain the best talent. This is particularly notable in Japan, most of Europe, and North America.
And, the Baby Boomer workforce continues to shrink as they move into retirement. That’s why we have to think knowledgemanagement (KM). Knowledgemanagement isn’t just for large organizations. And they will want that knowledge. The result? Baby Boomer Brain Drain!
Institutional knowledge/Knowledgemanagement. Whenever employees leave, organizations lose hard-to-replace knowledge about what has been successful and unsuccessful in moving strategy forward. Unfortunately, relatively few organizations have developed formal programs to proactively prepare for such losses of knowledge.
As the Baby Boomer generation reaches retirement age in record numbers, organizations face a significant challenge in maintaining their expertise pipelines. From retirement to renewal “Peak 65” refers to the unprecedented number of Americans hitting the traditional retirement age of 65.
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