Did you know...

Did you know that about 78 million “Baby Boomers” were born between 1946 and 1964? Every day 10,000 of these boomers turn 50. The U.S. Bureau of Labor Statistics shows that over 23% of the workforce in 2018 will be baby boomers.

Did you know it is estimated that by 2020, approximately 50% of the workforce will be Generation Y (1976-1991) workers? Soon this generation will be managing companies now led by baby boomers.

Did you know that 40% of decision makers will retire within 5-7 years.

The statistics and findings above are not new information, but it is critical that these issues be considered as new talent is hired. Acquiring talent is becoming more of a challenge as talent acquisition methods are changing and finding talent with the required skills becomes more difficult.

In 2012, the Society for Human Resource Management (SHRM) and AARP conducted a joint survey focusing on organizations’ strategic workforce planning. The survey found that an increasing percentage of organizations are aware of “a potential shortage of younger workers with the requisite skills needed to replace older workers who are retiring.”

What does this mean for your organization? One very real possibility is a knowledge loss or “brain drain” as these older workers retire, taking their experience and skills with them. Without careful planning of how to retain this knowledge, the task of equipping new employees can be overwhelming.

The above-mentioned survey found that although 72% of HR professionals described loss of talent due to older workers retiring/leaving the organization as a “problem” or “potential problem”, only 5% had implemented specific policies to deal with it.

So what can you do about this? Develop and implement plans to ensure your organization is acquiring and retaining your top talent.

Learn more today. Sign up for our information whitepaper “Acquiring Talent in the 21st Century," It delves deeper into many of the issues that are affecting employee acquisition today.

If you are have already planned for the changing workforce and are now looking for ways to ensure your employees are working to their full potential, intRAtrain™ by Russell Associates also has comprehensive training options to help you develop onboarding and training program that will ease the transition to new workers.

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Russell Associates is a training, testing, inspections and related management software systems company that works side by side with our clients to develop tools that effectively and efficiently help you do business better.

We help companies like yours in multiple industries solve real problems, grow profits and realize a positive return on their investment. Our consultative approach results in better trained employees; improved training, testing, and inspection processes; greater efficiencies, reduced risk, and lower costs. We've been doing it for over 30 years!

Russell Associates uses technology appropriately to improve effectiveness and capture efficiencies, providing solutions for employee training, testing, documentation and reporting, and for eliminating paper from inspections, audits, and observations

Our team is comprised of experienced and successful business professionals, curriculum designers, educators, writers, programmers, and graphic designers. We adhere to a high personal and business code of ethics, providing the most precise, practical, impartial technical and professional assistance available.