When Baby Boomers Retire — Smart Managers Will Tap Into Their Knowledge Before They Are Gone
Baby Boomers comprise about 41 million workers (over one-third of the workforce). Most are expected to retire soon. Almost 10,000 Baby Boomers turn 65 each day. This will create a void of experienced managers that may be difficult to replace. Recruiters will be searching for those that have spent the time to absorb knowledge from their experienced older co-workers. Companies may even employ formal knowledge transfer strategies to prepare for their exodus. If you are looking ahead and planning for your career advancement, be sure to learn from these experienced managers either formally or informally before they are gone.