Saturday, February 12, 2005

Utilities Prepare To Deal with "Wave Formation" of Potential Retirees

In addition to an aging utility infrastructure--the "recurring joke being that most of the nation's power plants, transformers and distribution systems are now eligible for AARP membership," utilities are also finding that the workforce they rely upon to operate and maintain the electrical system is nearly as old:

We have a graph that shows how the demographic of our workforce is this huge wave," [Anne] Grier [vice president of human resources for Dominion Resources] said. "We have 25 percent eligible to retire in 2007 and 45 percent by 2012," she explained. "We call it The Wave."

Focusing on efforts by the HR department at Dominion Resources, this article suggests that the first place that energy companies need to start is to assess their potential vulnerabilities and then make a plan and offers a series of things that a company can do before a large portion of its workforce walks out the door.

Source: "The Business Electric: An Aging Dominion Does The Wave" Energy Pulse January 17, 2005

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