Retaining Skills and Knowledge as Older Workers Begin to Retire - Employee Retention

It is a well known fact that the average age of the workforce is steadily increasing. As the workforce continues to age, there will be significant economic and business-related ramifications for us and the companies we work for. Critical to the business will be the embedded knowledge that will be lost as older workers retire.

To help get a handle on the problem of an aging workforce, the first part of this article deals with how to identify the challenge ahead. The second section outlines possible strategies to tackle the problem. And, finally in the third section, we offer tactics for planning ahead and measuring success.

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How to Manage Human Resources!Global Trends in Human Resource Management