The business world has undergone several challenges as of late, and as difficult as it has been to cope with some of these changes, it seems like there is at least one more change on its way, on which employers will need to start planning for now if they are to avoid facing any sudden an unnecessary weaknesses to their organization when it comes. As it stands the Baby Boomer generation currently makes up a highly significant portion of the workforce in this country. However, most of these individuals are now reaching retirement age, a matter which companies need to be taking into consideration and strategizing for if they are to begin changing tactics, carrying out executive search and hiring procedures to source and attain younger candidates for the new generation.
The first step employers will need to take in preparing for this coming shift is by addressing the situation to the employees whom this might apply to. This can be done simply enough by taking the time to sit down one on one with those employees nearing retirement age and just asking them outright about their intentions regarding retirement and if an when they intend to do so. While the information needs to be collected these discussions still should be carried out with the utmost respect for the employees so that they understand that they are not being pushed out or encouraged to retire, but simply made to understand that their plans for the future need to be planned for if their departure is to be met with a smooth transition for the company.
Once the employer has had the chance to thoroughly discuss this subject with all involved and made a list of those whose time with the company is drawing to a close, next the employer will need to begin their executive search and hiring procedures, at least on a fundamental level, by drawing up a list of all the skills, knowledge, and experience necessary to meeting the needs of each of those roles that will soon be vacant. This will of course require the employer to once again interview those individuals soon to retire in order to gain a thorough understanding of what they do, how they do it, and what it takes to do the job in question. To be even more thorough the employer might consider also interviewing individuals who work closely with these positions to get an outside perspective on the role.
With this information now at hand the employer will need to decide if they will begin immediately carrying out general hiring procedures and seeking candidates from outside the company, or if they will wait to time these procedures with the date the retiree is expected to leave. However, before they begin these proceedings employers should first heavily consider the potential benefits of filling these soon-to-be-vacant positions through internal promotions and mentoring programs. By taking advantage of these methods companies can drastically cut the time it takes to fill positions when they open by having someone already lined up to take it. This also provides the added benefit of functioning as a significant motivator for employees.
Published by Conselium Executive Search, the global leader in compliance search.
