Posted on October 02, 2016

Many organizations in the United States are facing the imminent retirement of upwards of 50% of their workforce in the next 3 – 5 years. And it’s already begun.  Water and electric utilities, airports and governments (including the Post Office), among others, are in the midst of what some refer to as The Silver Tsunami:  the impending departure via retirement of a massive number of Baby Boomers in a compressed period of time.

How best to prepare for the departure of a huge percentage of a workforce?  Especially if many of those who will leave occupy jobs requiring years to master? (Think plumbers.)  Most who are experts in their job, having been with the organization for the bulk of their career?  A daunting task, to be sure.  And a terrific opportunity.

Not surprisingly, the response has been diverse. Some organizations are doing nothing while others are merely redoubling their recruiting efforts.  The more enlightened are taking full advantage of this unique situation.  They’re evaluating themselves.  Defining what’s truly working and what’s not. Bolstering strengths, addressing shortfalls.  Assessing their ‘employer brand’ – how potential job applicants, especially the top talent needed to replace the departing experts perceive the organization.  Some are establishing values and/or a new, improved culture to increase their attractiveness in the job market and to enhance their ability to produce outstanding results while saying ‘goodbye’ to hundreds of employees.  Even in civil service, a number of organizations are identifying potential successors to those who will likely be leaving and accelerating their development.  A few are even designing ways to keep retirees in the family, so to speak, to act as mentors, coaches and trainers.

Losing half a workforce can be a harrowing experience.  It can also offer a golden opportunity to assess, refresh, and build something better:  a culture in which employees are valued for their work and an organization that attracts people capable of producing superior results. This could be you.

More next week.  In the meantime, Happy New Year to those who know of what we speak.  May it be a very good year.