Human Resource & Payroll Services And Solutions - Houston, Dallas, Austin - Texas www.hrp.net. With a proactive plan, important information and processes can be conveyed effectively from retiring employees to those remaining. Here are some more considerations.

1. Toll Free: 877.880.4477
Phone: 281.880.6525
Capture the Intellectual Property of
Retiring Employees
Intellectual Property
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2. How many Baby Boomer employees (those born between 1946 and 1964)
will be leaving your organization in the next five years? When retiring
employees clear out their desks and walk out the door for the last time,
they often leave with fond memories -- as well as vast amounts of
intellectual property stored in their brains.
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3. » Unfortunately, few organizations take the time to "debrief" retiring
employees before they exit.
» Increasingly, companies are rethinking their approach and deploying
innovative work arrangements that provide for the transfer of invaluable
intellectual capital before employees retire.
This can include:
 Four-day work weeks;
 Work from home arrangements;
 Job sharing;
 Part time work; and
 Consulting and special project
assignments.
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4. » Slowly easing retiring employees towards the exit sign can ensure that
your company retains its intellectual property, as well as help employees
smoothly transition into the next phase of their lives.
» With a proactive plan, important information and processes can be
conveyed effectively from retiring employees to those remaining.
But that's not all. Here are some more considerations:
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5. 1 Phased retirement plans can avoid compromising relationships with
1
customers and clients.
• Understanding your clientele's expectations and responding
accordingly can make the difference between financial success and
failure.
• Employees often establish long-term relationships with customers
and clients that are based on trust and mutual respect. When an
employee with decades of experience leaves an organization, the
effect on the customer base can be dramatic.
• People inherently dislike change. If a connection with an employee is
suddenly broken, customers may take it as a sign to move their
business elsewhere.
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6. 2 You can delay hiring and training expenses.
2
• Finding suitably qualified candidates for vacancies can be time
consuming and expensive. Once a candidate accepts the position,
the hard work really begins.
• Depending on the size of your company, teaching a new employee
the "ins and outs" of the company's processes and technologies can
take months or sometimes years to accomplish.
• That is assuming that the employee doesn't leave for a more
promising opportunity before their months or years of training are
over.
• If that happens, the process begins over again, much to the
frustration of staff members asked to train yet another new
employee.
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7. 3 Keeping retiring employees engaged in some way is far less costly
3
than it might have been in previous decades.
• People are living longer, healthier lives. With advances in the medical
field, as well as an increased awareness of the dangers of certain
lifestyles, life expectancy continues to increase for most segments of
society.
• Since employees expect to live longer, they are taking better care of
themselves. Healthier employees result in lower health expenses and
less sick time taken.
• At the same time, due to business technological advances, it's now
easier to have older employees in many jobs work from home on a
part-time basis. And as noted in the research report described in the
right-hand box, today's older people don't necessarily want a
leisurely retirement where they don't work at all.
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8. 4 Older employees are less likely to waste time on social media and
4
other Internet distractions.
• Some members of younger generations spend hours glued to their
phones and other devices, older employees may embrace social
media, but it does not generally control them.
• According to various studies, businesses are losing billions of dollars
a year as a result of employees spending work hours online.
• Mature employees are less likely to spend hours updating their
statuses and tweeting at work.
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9. » Offering baby boomers a phased exit plan allows exiting baby boomers to
gradually prepare for retirement while allowing employers to maximize
the value from the employees' efforts – often at lower effective salaries.
» If structured correctly, alternative work options will not limit the potential
for younger employees to advance.
» In fact, such arrangements may actually accelerate the advancement of
younger employees since they are able to fully incorporate the lessons
learned from the previous generation's experiences.
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10. 14550 Torrey Chase, Suite 100 Houston, TX 77014 USA
Toll Free : 877.880.4477
Phone : 281.880.6525
Fax : 281.866.9426
E-mail : info@hrp.net
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