Addressing the Implications of an Aging Workforce

  • Workforce planning and workforce analysis: Which employees are eligible for retirement in the next two to five years? Do they possess critical skills? Which jobs and skill sets will be impacted? How will you replace these skills once these employees retire? What are the critical skills for the future that will need to be recruited or developed?
  • Learning management: Do your current training and learning programs focus on the critical skills needed for the future? Are your delivery systems designed to provide training in ways that meet older or new employee learning needs?
  • Recruiting: Do the current recruiting processes operate effectively so that you can quickly hire top talent as the competition for skilled resources continues to increase?
  • Succession planning: Which employees can assume leadership roles when the current leaders retire?
  • Rewards and recognition: Do you offer creative and flexible rewards to employees eligible for retirement in order to encourage them to stay? Do you offer competitive rewards in order to attract and retain new talent?
  • Employee relations: Do you have an environment where employees feel valued and respected in order to make sure both older and younger employees stay?
  • Knowledge management: Are you able to capture and make accessible the unique knowledge possessed by workers who are retiring?
  • Workplace design: Are the workplace and jobs designed so that they are sufficiently flexible to accommodate the needs of employees considering retirement or new workers seeking flexibility, such as job-sharing, telecommuting and part-time work?

Source: Achieving High Performance in a Rapidly Aging World / Rajan Srikanth, James Benton, and Yvonne Herrera / Accenture

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