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DiamondWinds
Because Trust is the Point
Volume II Number 4

In our newsletter this month, Ruth Fennell brings a unique vantage on the value of retaining "Baby Boomers" in your workforce as well as strategies to accomplish that goal. After years in the corporate Training and HR environment, Ruth opted out of the corporate track. Like so many Boomers, she needed to reengineer her lifestyle so she would have the flexibility to care for aging parents. Now recognized nationally as an expert in issues related to caring for seniors, Ruth is an active realtor, an instructor and speaker specializing in issues related to caring for seniors. She is also a Certified Senior Advisor (CSA), helping families work constructively with a variety of issues stemming from aging family members.


The Boomers


Retaining and Recruiting Boomers.

Baby Boomers, those born between 1946 and 1964 and who comprise about 45% of the nation's workforce are choosing to leave the workforce in startling numbers. Like many others, you may have planned for their departure at the "standard" retirement age of 65 and are developing Gen X or Gen Y to pick up the baton when that day comes around. Yet time may be shorter than you think.

Across America, Baby Boomers are trading in high paying, high stature jobs--long before they reach the magic age of 65--for situations that provide more flexibility, less stress, and the opportunity for genuine work/life balance. These Boomers, who for decades have excelled at the corporate political maneuverings and jumped to the whims of corporate leaders, say they need to take control of their lives to meet the needs of both children and aging parents. Others simply want to follow their dreams or find a job position that "gives back."

Have you thought about the impact the Baby Boomer's departure is having or will have on your organization? Many organizations will find that strategies to retain Boomers will help the organization. Other organizations have not thought about the potential problem or solutions yet. Is it possible such strategies could help your organization?

The Boomer Corporate Value.

Though some employers grouse about the above- median salaries that Boomers tend to earn, there is no disputing their value to the corporation. The 78 million Boomers bring with them intellectual capital that cannot be bought at any university - it comes only through time and experience. Want to know why a process works - or doesn't work? The "School of Hard Knocks" attended by virtually every Boomer will likely provide the answer. Do you want to understand your company's heritage? Ask a Boomer. Need to know more about your industry? Chances are a Boomer will have the most complete and insightful picture.



Boomers head associations, committees, companies, regions and departments - and they know the other movers-and-shakers across the community and your industry. (They probably know the names of children and spouses as well.) The Boomer network is immense and powerful.

Getting back to those salaries, Boomers have paid their dues and do tend to make the higher-than- average salaries. They also control over 70% of the U.S. economy. If you want to know what people will be buying and what they will be investing in (so your company can profit from those trends) listen to your Boomers. They are the buyers and investors. All these are reasons to keep "Boomers" in the workforce as long as possible. How can we do that?

Strategies to Retain and Recruit Boomers

Sonia is the anchor of her firm's accounting department, working long days, every day for the last 26 years. She knows the nuances of every account, the intricacies of the customized software, and how to read industry trends. Sonia knows what happened 5 years ago, 10 years ago - 132 weeks ago, if you want to get that specific--and she knows why it happened. She can also forecast what will happen next week and hit it spot-on 90% of the time. Like many her age, Sonia married late, had children late. At 52, she is raising 8- year-old twin boys, caring for one parent in her home and another in an assisted living facility. Today Sonia comes to a startling realization: even on a good day (when the twins' allergies aren't acting up and there are no notes from the teachers, when both parents' meds are stable and the caregiver shows up on time) she can't do it all and do it well.




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