Start Planning NOW For Baby Boomer Retirements


According to current statictics, nearly 10,000 baby boomers retire from the job market every day. Research indicates that employers are growing increasingly nervous about the loss of certain job skills and knowledge as a result. How well is your organization prepared for the exit of your most knowledgeable employees? Perhaps it is important for you to start looking for ways to transfer this knowledge and replace your baby boomers with quality employees.
Here’s some ways to start planning NOW for Baby Boomer retirements.

Identify the baby boomers who will be leaving in the next two years

It’s important to have a good understanding who is nearing retirement in your company. You will want to evaluate the skills and qualities that these folks have that will need to be replaced. For example, you may have several baby boomers who have above average sales skills. Naturally, you will want to replace them with equally skilled sales professional at your mid-level. Then you will bring entry level employees on board and train them on the scale.

Match your baby boomers up with lesser experienced employees

It’s really important to start thinking about the mentoring opportunity that is available right now. Your baby boomers will probably start to disconnect someone in the next year or two therefore you will want to maximize this time by matching them up with skilled employees who will be around in the next 5-10 years . Utilize your baby boomers to train other employees and reward them with additional financial support for their retirement goals.

Create opportunities for baby boomers to stay on at least part time or as consultants

Many baby boomers dream about retiring, however, they also like to stay useful in their older years. Having the opportunity to work at least part time or on a consultant basis can be a great way to retain some of the skills and knowledge of your older workers. After baby boomers to work with employees on developing their soft skills such as being leaders in the workplace, having strong communication skills, and team players.

Partner with a staffing agency to replace your baby boomers

This is an opportune time for your organization to start looking at ways to effectively and efficiently replace baby boomers before they leave the job site. You can bring on new employees in temp to hire positions and have them work under the guidance of baby boomers. In this way, the knowledge is passed on to the next generation of workers and you have adequate personnel to cover all your projects.


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