MHR 600 Lecture Notes - Lecture 6: Baby Boomers, Tacit Knowledge, New Approach
2 Apr 2016
School
Department
Course
Professor
Document Summary
Rate of workforce growth projected to drop to less than 1 % per annum. 2015 proportion of workers over 55 projected to increase to 20% from 11% in 2000. Baby boomer retirements not enough young people entering the workforce to compensate for the exodus. Worse in countries where birthrate is less than replacement rate. Dramatic shortage of workers in leadership age group and key customer interfaces. Despite demographics, managers let older workers go on assumption that future will be populated by growing pool of talented and loyal young workers. So baby boomers and mature workers feeling little loyalty to their employers. Concept of retirement is outdated and should be put out to pasture. Create a culture that honours experience: value experience , knowledge , expertise , include in training programmes. Net generation: multitasking, learn from experience, collaborative, positive reinforcement, respect from others is learned, decentralised, non-hierarchical, inclusive, access for all.
