You’ve got a problem: your executives are all “baby boomers” and about to hit retirement. That wouldn’t be so bad, but the lower executive ranks are also filled with boomers, and they aren’t likely to stay on, either. They aren’t just walking out the door with their gold watches, either: they’re going to take with them the cumulative knowledge necessary to run your business.

Think that you can avoid it? If you work for a large company, you’re just dreaming. According to the Bureau of Labor and Statistics, 76 million people will leave the US workforce within the next five years. These “baby boomers” will also put extraordinary strains on the social welfare system for retirees in America, including corporate programs.

You have a plan to address your ballooning pension requirements. Are you planning for the implosion of your executive office? As these positions become empty, highly qualified staff will be able to write their own tickets, commanding massive salary and benefit increases. If your company can’t keep up with them you won’t have a chance in the job hunters’ market.

What can you possibly do?

The good news is that for large companies there is a simple and easy way to create a large pipeline of younger staff with the capacity to do these jobs. If you’re a company willing to take on this program, the better news is that your competitors will never do it.

Want to know why?

[Read more →]