Cliff's chronicles: Aging Workforce

Posted by Cliff Cheek on January 12, 2017

Aging Workforce

The life of a B2B sales person can lead you across the thresholds of many corporate doors. I happen to love it! Often the number of challenges and skills gaps in those corporations are as varied as the personalities to be found in the office. Other times, the challenges are strikingly familiar.

Today, I’m going to talk about one of those challenges that seem to be percolating in many, if not most, organizations – the aging workforce.

Let me share some stark stats –

  • By 2017, 1 in every 3 US employees will be a millennial; and millennials will comprise 75% of the workforce by 2025 (US Bureau of Labor Statistics)
  • While the expected # of Americans 65 & older who will leave the workforce will grow by 75%; the expected # of American workers age 25-54 will grow by only 2% (USBLS)

People – Many of you are woefully unprepared for this!

You are about to face a potentially massive loss of skilled, knowledgeable workers. And there aren’t enough trained skilled millennials to take their place.  Companies that effectively onboard, develop, and retain future staff have a real opportunity to differentiate themselves and set themselves up for future success.

But how?

Really, you have two paths to potentially follow:

  1. Retain and develop key skills of older works by offering effective training programs
  2. Develop innovative, fun, engaging training programs that will entice millennials to your organization

These are not mutually exclusive paths! I would maintain that a robust, innovative training program that develops critical thinking skills, highlights culture, and elevates business savvy in an interactive environment would help you to retain key older workers & stem the loss of valuable business skills, while also showing millennials that your company offers an exciting and modern work environment. A corporate culture that is ready to embrace your 2020 plans and beyond. And a company that as your employees step across the thresholds of their corporate entrances, they are doing so with more enthusiasm towards their future, and your organizations future.

Now that you read the blog, you will want to read the eGuide: Games Smart Businesses Play.

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Topics: Learning Development, Organizational Change