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Although the trend with Baby Boomers is to remain in the workforce longer than any prior generation, our oldest Boomers are now in their 70s. According to The Bureau of Labor Statistics, 10,000 Baby Boomers are eligible to retire each day through 2037, creating the greatest knowledge transfer that has ever taken place. Industries such as manufacturing, oil and gas, healthcare and construction stand to be the hardest hit by Boomer retirements and are mainstays of our Northeast Ohio economy.

EDGE Members RSVP: Pam@edgef.org

Overview

Key issues for business leaders include planning for workplace transitions, determining if GenX and Millennials are ready to succeed their elders, and how to ensure that critical “tribal knowledge” is passed along as key team members approach retirement. Without smooth succession and knowledge transitions, customer and vendor relationships may be impacted, and internal workplace productivity could come to a screeching halt. Compounding the issue: Boomers are choosing to remain in their positions longer than ever before, opting to return as part-time “rehires” or taking on consulting/contract arrangements with their prior employers. These trends offer Millennials fewer opportunities and leadership experiences to draw from, perpetuating the perception that they are ill-equipped to take the reins.

During our session we will review how some employers are handling the challenge and discuss best practices across session attendees, including:

• Talent Succession Planning and Employee Development Planning Basics
• Defining Knowledge, Skills, and Information … How Are They Different?
• Common Generational Differences and the Pitfalls of Stereotypes
• Creating Meaningful Relationships Between the Generations: Knowledge Transfer Teams, 1 to 1 Hand-Offs, Workflow Mapping, Influencer Introductions, and Other Opportunities
• Other Options: Phased Retirements, Technology, Outsourcing, and Consulting
• Do’s & Don’ts of Retirement Planning for the Organization

Leading our discussion is Pattie Wagner, Managing Director, HR Consulting Services at Sikich, a professional services firm locally based in Akron.

Bring your workforce succession planning, skills development challenges, experiences and obstacles to this practical session designed to help members tackle this issue.

Professionally facilitated peer group meetings provide leaders with an opportunity to learn with and from leaders of other mid-size companies in Northeast Ohio facing similar challenges and opportunities in a trusting and confidential environment. Exchanges are robust and attendees are challenged to bring at least two takeaways back to their organization that can be immediately applied.

EDGE Members RSVP: Pam@edgef.org