By: Solutions 21
The Silver Tsunami, how demographic change is your greatest business risk - Every day 10,000 experienced Baby Boomers leave the workforce, creating a “silver tsunami” that is expected to strip organizations of invaluable institutional knowledge and experience. The “silver tsunami” will result in a shortage of executive talent, less-experienced workers transitioning into decision-making roles, and high rates of millennial turnover. Organizations that make the right investments in the right people using the right tools will have access to talent that delivers exceptional returns for themselves and their teams. By 2025, 75 percent of the workforce will be made up of millennials. Not isolated to a single company, industry, or region, this demographic shift is one of global consequence.
Those who choose to ignore this demographic shift will struggle to maintain a workforce capable of growing and leading their teams. The organizations that properly invest in their next generation of talent will be industry leaders and preserve their business legacy while outperforming their competition. Read more about the silver tsunami and why finding these next-generation leaders and investing in their development is paramount.