Experience Deficit in the Workplace

What is your organization doing to prepare for the coming Experience> Deficit?

This is a question I posted on LinkedIn today. When focusing on generational differences in the workplace, perhaps organizations are over looking a key component in their overall corporate planning. Many organizations may be under the illusion that Boomers will be enticed to hang around longer than what normally would be expected by utilizing some of the incentives being offered to the Millennials. However, close observation suggests that many are playing along with corporate strategies until their exit date. The question stated more specifically could be: What tools or techniques is your organization or company doing to capture the 'EXPERIENCE' (not knowledge) of key personnel before they walk out the door for the last time.

In a recent conversation with a Sr. VP of Sales for an international chemical firm, I discovered both he and his wife were working this strategy. Seems that his reason for hanging on for a few more months is the interest rate on his retirement funds. With the new laws that have been passed, it is unclear to him what retirement strategy he will be taking. However, the plan is to exit within the next twelve months. As for his wife, she is holding out until her stock options are fully vested.

Back to the question: What is your organization doing to prepare for the coming Experience Deficit? Let me invite you to send your comments. It's an interesting question that needs some creative thinking.

Mick Grady

www.savoyriver.com
www.generationalprofiles.com
http://genprofile.blogspot.com/

Empowering Business In Generational Differences for the Workplace