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Recruitment & Retention

Published April 2007

Baby Boomers and the 21st-Century Talent Shortage

 

  Stephanie Klein

How can companies retain key knowledge and information while continuing to grow their current staffing base? First, employers who want to hold onto their mature workers must be willing to adapt to their needs. Key options that attract more mature workers include flexible work arrangements (adjustable schedules, job sharing and part-time employment options), the kind that require self-discipline and maturity for them to work to their fullest advantage.

Second, companies should strongly consider instituting formal and informal mentoring and reverse mentoring opportunities. Companies concerned about retaining corporate memory cannot afford to have their boomer employees quit, and many of these businesses are developing policies targeted at recruiting, retraining and retaining older workers. After all, expertise and experience are assets that can come only with time.

Finally, employers will do well to hold open discussions with boomer staff members to help them plan for the next phase of their career within the firm. Companies that show loyalty toward and interest in their boomer employees will tend to receive loyalty and interest in return.

Older workers will be in high demand during the balance of this decade and beyond. They add value not only to employers' bottom lines but also to the long-term health of our workforce and our economy.

If you're a boomer, you're in good company, and if you're looking to hire a boomer, chances are you're making a wise decision — it's a win-win situation all around.

What it boils down to is this: Experience counts.