“Long standing human resource practices invest heavily in youth and push out older workers. This must change – and public policy, too - or companies will find themselves running off a demographic cliff as baby boomers age. … the problem won’t be just lack of bodies. Skills knowledge, experience and relationships walk out the door every time someone retires, and they take time and money to replace. The problem is pretty clear. Workers will be harder to come by. Tacit knowledge will melt steadily away from your organization. And the most dramatic shortage of workers will hit the age group associated with leadership and key customer-facing positions.”
Harvard Business Review, June 2004
“Seismic forces are at work that may shake the very foundation on which leadership development practices have been built. The fundamental assumptions that guided many of the philosophies, principles, beliefs, and teachings of leadership have been largely based on the availability of an ever-expanding and perpetually better-educated talent pool. Those assumptions are about to change in a big way. All of our weather gauges are buzzing.
As we sail into the 21st century, “an unavoidable demographic time bomb fueled by aging baby boomers and lower birth rates will result in a significant shortage of workers,” says Richard Finnegan, chief client services officer for TalentKeepers, an employee retention firm. “Couple this with a widening gap between the skills demanded of today’s jobs and the readiness of people entering the workforce, and the result is going to be the labor market’s ‘perfect storm’.”
This is where leaders come in. Organizations no longer can afford to leave the responsibility for keeping well-performing employees in the hands of the HR department. Responsibility and accountability for retaining talent need to move out to the front lines and into the hands of leaders.”
“Retention Leaderhip”, T& D Magazine March 2004
“Forward thinkers are going beyond business school programs and feel-good events such as board retreats and experiential learning programs, many say. The new philosophy is about making management and leadership development an ongoing process tailored to individual needs but also firmly rooted in an organization’s culture. Technology often plays a role by providing tools for ongoing LD for managers and executives, and more organizations are searching their ranks for rising stars and nurturing their skills to build a pool of future leadership talent.”
“The Link Between Leadership Development and Retention,” T & D Magazine April 2004
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