Boomers are retiring in large numbers. Everyone is seeing and feeling the change in the workplace.
Off They Go
Many of them are planning to leave the workforce to enjoy the next chapter of life.
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Finally Ready
This soon-to-be mass retirement has caused younger workers to see the time to learn from those much wiser is now.
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Retirement, Soon
With succession plans looming for many companies, Millennials and Gen Xers are opening their minds. Thankfully, many Boomers are more than willing to share and help those younger workers.
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Boomers Have Wisdom
In partnership with Express Employment Professionals, and covered by Supply Chain Dive, 59% of Boomer employees have shared much or all of the knowledge needed to perform their job responsibilities with their younger counterparts.
Read more about why Millennials are finally listening here.
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They Are Also Knowledgeable
In the office, Baby Boomers are more likely to feel knowledgeable (66%), and younger employees view their older coworkers as having valuable knowledge (61%), people they can learn from (48%), and role models (43%).
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Will Anything Really Change?
Even with acknowledgment of the importance of knowledge sharing still more than a quarter of Baby Boomers (27%) reportedly say that the day-to-day processes within their organization change so often that the knowledge they have to contribute may be irrelevant by the time they leave the workforce.
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To Share or Not to Share
These might be one-sided. 84% of U.S, employees claim that it is a significant loss when their Baby Boomer coworkers retire without sharing their years of knowledge. Young employees are quite unhappy when someone leaves without sharing.
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Boomers Still Want to Work
Express Employment conducted a poll in April that showed 78% of workers between the ages of 57-75 would rather remain only semi-retired than abandoning the workforce entirely. Not all workplaces will accommodate this.
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To Teach or Not to Teach
Express Employment International CEO Bill Stoller said: “Every generation brings value to the workforce, and time is running out to enact knowledge succession plans for these senior employees.”
This acknowledgment of the potential wisdom that can be passed from Baby Boomers to younger employees will hopefully inspire employers all over the country to open their minds and ears instead of being the typical young “know-it-all.”
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This article was produced by Max My Money and syndicated by Wealth of Geeks.
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As a certified credit counselor, Max Marvelous has coached over 250 Millennials to help take the stress out of money. When Max is not coaching, you’ll find him reading financial books, indoor cycling, or visiting local pawn shops looking for swiss-made watches.
