Sunday, July 18, 2010

New Book Explores Industries at Risk and How to Stop Brain Drain from Boomer Retirements

For those worried about the brain drain to follow the retirement of the Baby Boomers, Ken Ball and Gina Gotsill have identified the following industries as ones most likely to feel the impace: oil and gas producers, manufacturers, educational institutions, health care, and government. Their findings, as well as proposals for how employers can assure knowledge transfers, are presented in their book Surviving the Baby Boomer Exodus: Capturing Knowledge for Gen X and Y Employees.
"Negative perceptions and image problems make industries such as utilities, oil and gas producers and marketers, and manufacturing especially vulnerable to impending Boomer retirements," the authors write. "These industries aren't drawing the people who might replace mature workers as they step away. Systemic losses, such as hiring practices and cost-cutting, compound the problem and have created an environment where knowledge gaps could impact operations."
Among other things, the book is advertised as a practical, step-by-step guide that managers and leaders can use to analyze their workforce and the impact retirements could have on business continuity. Using templates, checklists and case studies, Ball and Gotsill explore methods for assessing a company's knowledge gaps and explain how to create a knowledge retention, transfer and retrieval plan.

Sources: HR Morning "Ready for talent crisis after Boomers retire? These industries could be hardest hit" (July 16, 2010); AOL Find a Job "Dime Crunch: Baby Boomer Exodus Puts Many Industries at Risk" (July 12, 2010); Cengage Learning Press Release (June 22, 2010)

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