ComputerHunter.org |
|
|
|||
|
 |
Stopping The Brain Drain: How To Capture Key Business Knowledge Before It Walks Out The Door
The verdict is in: More and more baby boomers will be leaving the workplace sooner, rather than later. Many industries are predicting that between 25 and 45% of their more senior employees will soon be departing their organizations. And as they leave, they will be taking vast amounts of accumulated business knowledge with them. Why the mass exodus? As the age of the workforce increases, a greater number of people will be leaving their jobs due to death, disability, or retirement. For several decades, the Bureau of Labor Statistics has been tracking the numbers of baby boomers leaving the workplace and reports that close to 25 million people will have left the workforce in the years between 1998 and 2008. Of these, 22 million are or will be aged 45 years or older and thus will be leaving mostly to retire. The total number of people who left the labor force between 1988 and 1998 was 19 million. As we near the end of the current period (1998 ? 2008), the oldest baby-boomers are or will be aged 52 to 62 and eligible to retire. The Graying Workforce The baby boom began in 1946 and continued through 1964. During those years, 76 million people were born. The unprecedented number of births during this period has had a major impact on many aspects of the economy over the last 50 years, mainly forming the size and age demographics of the workforce for the past 30 years. In 1978, baby-boomers were aged 15 to 32 and comprised about 45% of the workforce. In 2008 this number will decrease to about 40% but will still add nearly 17 million workers to this age group. As a result, the average age of the workforce will have risen from 38.7 years in 1998 to 40.7 years in 2008. Retaining Key Business Knowledge As the baby boomers edge toward retirement, there are three main options they face: 1. They are eligible to leave the company, have the means to do so, and choose to leave 2. They are eligible to leave the company, have the means to do so, but choose to stay 3. They are eligible to leave the company, do not have the means to do so, and must choose to stay Regardless of the situation, many organizations simply cannot afford to have crucial business knowledge walk out the door. Following are 3 ideas on how companies can best stop the brain drain and capture this knowledge before it is gone forever. 1. Ensure the company has a solid succession planning system in place. By identifying key personnel who can replace a knowledgeable person who will be leaving, cross training can begin as soon as possible 2. Create a company-sponsored mentoring program where more senior, experienced mentors are teamed with less senior, less experienced protégés 3. Carefully map crucial business processes so that they are captured for training and development purposes. Use of process mapping will automatically identify bottlenecks and critical sub-processes that are often contained solely in a person's brain. Once processes are mapped they can be distributed and shared with many people and the company becomes less vulnerable if someone chooses to leave the company. The reality is that many companies are vulnerable to potential brain drain. For these companies to continue to grow and succeed, it is imperative that they retain as much crucial business knowledge as possible. Use of these three ideas can go a long way to ensure that your company remains healthy and viable. Dr. Dan Strakal has been an expert on the changing workplace, business life, and career transition for nearly 20 years. He is the coauthor of and contributor to two books, Better Job Search in 3 Easy Steps and Better Job Skills in 3 Easy Steps. He is also the creator of numerous audio programs including Undaunted Courage in Leadership: 7 Lessons From Lewis and Clark, Networking to Increase Your Net Worth, Creating An Empowered Workplace, Increasing Employee Motivation in 3 Easy Steps, Balancing the 7 Sides of the Work and Home Life Equation, and many others. Through his consulting engagements, workshops, and one-on-one coaching sessions, Dr. Dan helps dozens of organizations and hundreds of people each year to overcome the challenges and barriers they face in creating satisfying and successful workplaces. Dan is a former executive in the corporate sector and is now a high energy entrepreneur who brings a well-rounded and realistic perspective to issues occurring within Fortune 500 companies, mid-sized organizations, and small businesses. More info at http://www.capable-consulting.com
Google News - Top Stories
|
|
|
|
RELATED ARTICLES
Lean Principles in Action Abstract The Measurement of Manager Training THE MEASUREMENT OF TRAINING: Evaluation is one of the most valuable - and challenging - aspects of a training manager's job. A well-planned and on-target evaluation process can be the tool which separates a superlative training department from a merely satisfactory one. Reprimanding Marginal Employees THE MARGINAL PERFORMER: Every manager must, from time to time, deal with a marginal performer - an employee whose work, for the most part, is satisfactory, but who regularly fails in some specific area or areas to maintain a satisfactory level of performance. The work of the marginal performer can be classified as substandard in some cases but not so poor as to warrant immediate termination. 5 Ways of Increasing Business Profits The economy may finally be turning around and showing signs of a rebound. Interest rates have begun to rise and the stock market is recovering from the lows it experienced in the last couple of years. Is your business ready to take advantage of these improving times? Can you translate these improvements into increased profits? You can. Read on? Building Bridges of Communication If you are a consultant to a client, or a salesperson attempting a closer relationship with your customer, here are five techniques that help achieve just that. Six Sigma Training 101 ? Better Management Basics What is Six Sigma? Take the Easy Route - Delegate It was 2.30 am. It was cold and dark and I'd been in bed for just a half hour when the phone rang. Hiring Tip -- Picking The Best Candidates I often hear leaders from all types of organizations ask questions about hiring the right person. Their questions usually sound like these: Want to Manage Your Time? Get Real! You know the drill - the ridiculous deadlines, the relentless barrage of email, voicemail, phone calls, all those "got a minute" interruptions, the constant worrying that one of those many balls you're juggling is going to unexpectedly drop. Think Time... Its Now Or Never I recently read an article published in the June, 2005 issue of Fast Co. magazine. Linda Tischler wrote an essay entitled "Death to the Cubicle!" In it, she says 'Collaboration is great, but sometimes I'd kill for a door.' CEOs Are Great, Top CEOs Are Greater People in leading positions are often in a dilemma: on one hand they are supposed to give great performances, make the right decisions and so forth; on the other hand, they have to fill the role of a very confident and self-assured manager. This may be considered a dilemma because CEOs are expected to be almost supernatural, and asking for assistance in what is supposed to be their core competence (leadership!) simply does not fit the picture, no matter how necessary it may be. Manage or Lead ? Why the Difference Matters and What to Do About That Difference Many books have been written about managing people, and an equally large number have been written about leadership. Some use the words manage and lead interchangeably, and some talk about the differences between the words, building a distinction based on style or behaviors. Einstein, The Universe, And Leadership Every since serving a hitch in the military, I have been nagged by the question that's been hanging around leadership since time immemorial: How can some leaders persuade people to believe in them and follow them and other leaders can't? But it wasn't the military that provided me with a framework to answer that question. It was Albert Einstein and his quest for the unified field theory of the universe. Communicating Effectively In The Workplace: Four Vital Steps Ineffective communication is a major, yet avoidable, obstacle to business productivity. And yes, it can be avoided. Given the will, the bleakest of situations can be turned around for the better. Don?t Forget Where You Came from - Why the Past is Important in Implementing Business Change Much of the literature and advice on implementing business change focuses on knowing where you are going and making sure that you understand and communicate a consistent vision of the future. Indeed, I have looked at the importance of this in an earlier article in this series. This month's article, however, looks at the past and its often under-estimated importance in implementing change. An Honest Look at Your Business There is a difference between being comfortable and being in apathy. The Role of the Machine Metaphor in Mixed-initiative Organizational Leadership "Can This Marriage be Saved?" So reads the title of the cover story in the August 15, 2005 issue of BusinessWeek (www.businessweek.com). The article describes the seven-year (1998-2005) story of the merger of Daimler and Chrysler Corporation. As of this writing, the board of the merged companies decided to terminate the reign of the current chairman, Jürgen Schrempp. At the end of this year he will be replaced with Dieter Zetsche, the current head of the company's operations in North America. The article identifies the following five critical challenges facing the new chairman: Why Good Enough... Isnt About a year ago, I had an opportunity to have dinner with the CEO of an engineering startup company in Pennsylvania. As we discussed engineering design matters over Chinese food, he took a few moments to talk about his business philosophy. "As far as I'm concerned," he told me, "if a product is good enough, then it's perfect." He explained that in his view, product improvements should only be performed with the specific goal of increasing sales. "Anything else," he said, "provides no benefit to the company. It's just over-engineering." Check Your Communication Skills Use this check list to assess your communication skills. Lessons From Innovative Companies What do the companies 3M, Polaroid, and Walt Disney have in common? All have innovation in their blood. All encourage an innovative spirit at every level of their organization.
|
|
|
|
|
