Businesses are not preparing younger workers to take on leadership roles and will suffer from a lack of leaders as about 60 million baby boomers retire during the next 15 years. So say 94% of human resources professionals polled by DBM, a New York-based human resources consulting firm that conducted the survey in various major metropolitan areas throughout North America and polled nearly 200 HR professionals from February to June of this year. What's on the horizon according to DBM? Severe manpower shortages and senior leadership gaps. "Fostering interaction between the younger and older workforces within a company is a necessary step in preparing younger workers for senior leadership roles while preserving valuable institutional memory," says Tom Silveri, president of DBM. "Organizations that proactively integrate their diversified workforces will reap the benefits of learning from past experiences while preparing for future opportunities." Below are some strategies from DBM that organizations could consider in preparing for the future shift in workforce demographics:
- Educate employees of different age groups on what each contributes to the work environment and organizational goals.
- Motivate older workers to continue acquiring new skills, thereby increasing their employability both inside and outside the organization.
- Enable workers of all ages to recognize their transferable skills and seek opportunities within the organization before taking their experience and knowledge elsewhere.
- Implement a corporate mentoring program.
- Equip employees of all ages to network across generations, forming connections internally and externally.