The document discusses how the aging of the baby boomer generation is resulting in high retirement rates across many industries and professions in the coming years. This will lead to a significant loss of experienced and knowledgeable workers, creating a large talent and experience gap. Effective succession planning and knowledge transfer methods will be needed to help pass on important skills and information from retiring workers to new generations and help bridge this gap.

1. The U.S. workforce is aging more drastically than ever before.

2. The Transition Baby-Boomers

3. This means retirement trends will be at an all time high. These shifts are going to affect the current retirees, the current workforce, the children, the economy. These shifts are going to affect Y-O-U.

4. 2 One Baby-Boomer reaches 50… 3 every seven seconds. every seven seconds. every seven seconds. every seven seconds. every seven seconds. every seven seconds. 4 6

5. That is around 11,960people a day That’s 4 MILLION per year! 11,960 11,960 11,960 11,960 11,960 11,960 11,960 11,960 11,960 11,960 11,960 11,960 11,960

6. In 2001, 28% of the population (77 million) Americans were 50 and older. By 2020 that segment will be 36% of the population. 2001 2020

7. In just 5 years… 1 out of 5 working individuals will be over 50 years old. 1/5!

8. More Specifically… =506,250 retirees! US department of defense has 675,000 civilian workers. In the next 6 years 75% are expected to retire.

9. In the next 4 years1/3 of all secondary school teachers are expected to retire

10. At NASA # of engineers older than 60 outnumber # less than 30 by: 3 to 1

11. Oil and Gas Industry Oil and Gas production is expected to lose 60% of workforce in next 4 years

12. Specifically @ A Marketing Manager at General Mills retires Taking with them 30 years of knowledge It will cost $MILLION$to re-learn this information

13. Bridging the Gap A large talent and experience gap exists between retiring Baby-Boomers and their ultimate replacements. To account for this gap, recruiters should use : look to hire individuals with mid-level experience for immediate contributions. succession planning

14. Knowledge Transfer We will be challenged to facilitate the transfer of valuable knowledge/skills from retirees towards their replacements Effective completion of this task will require and . What are some proven methods? innovation creativity

15. of Knowledge Communication Prior to Retirement… Implement & encourage mentoring relationships, leadership programs, and networking. Create age-diverse work groups Post-Retirement… Offer flex-time and part-time options Conduct knowledge-related interviews and utilize material for future university and online courses

16. Can Bridge the Gap!!!!!