5 000 000, is the number of Baby Boomers currently working across Canada who will begin to retire in 2011.
Canada's population is aging, raising a range of individual, organizational and societal challenges. One of the key challenges for employers will be the availability of qualified workers as the baby boom generation, about half of Canada's labour force, enters retirement. The baby boom began just after World War II and lasted until the mid 1960s. Today, the oldest of the boomers are 55 and eligible for retirement benefits in many private pension plans. They are the beginning of a rising wave of retirements that should reach its peak in the early 2020s. This retirement wave will wash a substantial amount of talent and experience out of the workforce.
Many of these baby boomers are in currently in positions that require experience and relate to supervisory and management roles. Although the height of retirement of baby boomers is still a few years away many organizations are succession planning. Are you prepared?
We are currently working with companies that understand these changes will greatly impact their organizations. As these baby boomers leave they take with them their experience, expertise and skills. The talent pool in each organization must be able to replace upper management, middle management and supervisory roles, in the upcoming years.
A link to this white paper explains how succession planning is different than replacement planning, talent management and succession management and also gives you some tools to facilitate replacement and succession planning.
Dale Carnegie Training is available to assist your organization in developing the skills that younger generations will need as they move into more management and supervisory roles within their companies.