It’s happening. A tidal wave of change is quickly altering the landscape of North American businesses. Over the next few years, there will be a dramatic shift in the age of the average employee. Baby Boomers will begin retiring en masse and employers will struggle to find suitable replacements. This swing of demographics will affect all industries by the year 2050, according to the Wall Street Journal. So, what happens next? Is your workplace ready for this drastic shift in age? Can Generation X, Millennials, and even the next generation fill the shoes of these retiring workers? Here is a closer look at what you need to know moving forward.
Determine Your Assets
What percentage of your workforce is gearing up for retirement? What kind of knowledge do they have that needs to be passed on to your other employees. Once you determine what assets these employees hold, you can move on to the next step. Discuss retirement plans with your older employees and take an inventory of their unique skills.
Create a Plan to Transfer Knowledge
Next, create a mentorship program that will allow each retirement-bound employee to connect with a younger staff member and teach them about their knowledge base. In any industry, there is a lot of knowledge stored in the minds of the employees set to leave, so it is imperative that you transition that to the rest of your team.
Implement Technological Solutions
Companies that are unwilling to embrace technology will be left behind by the industry. Your millennial employees were raised on social media and mobile devices, so utilize their special expertise to transition your office to one that embraces technology. Let go of old procedures from the past and build something new that will work for your evolving company culture.
Develop New Recruiting Strategies
To hire the next generation of talent, it is also critical that you know where to look. Younger employees aren’t seeking jobs in the traditional places, so you must open your mind to modern alternatives. Social media strategies, mentorships, and community outreach can help you find the right new candidates to train the next generation of your business.
Design Flexible Work Plans
Both your soon-to-be retired employees and your younger staff crave the same thing: flexible work schedules. Many Baby Boomers aren’t ready to hang up their hats entirely, but they need fewer than the typical 40 hours a week or more. Millennial employees also crave flexible schedules, including remote working opportunities. You can use these similar desires to your company’s advantage and create schedules that work for everyone.
Are you ready for the next generation?
About Anserteam Workforce Solutions
The Anser to your North American workforce management needs starts with A-Team solutions. Anserteam is the alliance of North American staffing and employment resources. Since 2004, Anserteam has grown to service over 750 locations across the United States and Canada. Are you a best-in-class staffing firm looking to increase your client base and secure a greater market share? Find out how to become part of Anserteam.