Thursday, November 13, 2008
Just a thought since I haven't posted in a while. The market is down and will be down for a while, so that means boomers who where going to retire in the next year and a half or so will be holding off while their 401k or IRA recovers. This means that instead of a gradual transition of workforce replacement we will instead have a mass exodus of boomers retiring once the market comes up again. I would put the clock at two years for organizations to invest in training, outside recruiting and succession planning before you start to feel the pain. Even then old succession planning models will not be enough. You wont just be able to plug people into slots like before and slowly work to get the right people in the right spots, instead you will need to be two or three people deep as the quick movement upward will cause some of your personnel to fail and you will readily need a bench for the bench as people move in and out of positions, also outside recruiting will boom as some companies who have not prepared for this scenario will attempt to "buy" their way out of the problem stealing YOUR talent. I don't care what your niche is in HR you will be focused on training, recruiting, and retention whether it is compensation, benefits, or training. I admit this is a nightmare scenario. However, I am preparing. How prepared are you? More to come on this; I need to think on it more to post more effectively. Might be time to move into the recruiting feild though.