Steps You Can Take to Avoid "Brain Drain"

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62% of Fortune 1000 companies believe that retirements will mean continued skilled labor shortages over the next 5 years (HireVue). According to research at the University of North Carolina's Keenan-Flagler Business School the companies who actively facilitate the transfer of skills and preservation of potentially lost knowledge are most likely to mitigate the effects of brain drain and prepare Millennials for important leadership roles. Workforce changes are creating an unprecedented shortage of experience and talent for U.S. companies. Retiring baby boomers who walk out the door and managers who seek work elsewhere can leave your organization facing a significant talent gap.

In an in-depth infographic, MBA@UNC (Keenan-Flagler Business School) takes a closer look at the facts that surround baby boomer brain drain. The infographic illustrates the effect that baby boomers have in the workforce today, how their retirement will affect the businesses of tomorrow and what companies can do to leverage senior talent and prepare for the future. The fact that Millennials will make up 50% of the workforce by 2020 makes these senior talent losses particularly notable.

"Today, baby boomers account for 31 percent of all jobs—and 56 percent hold leadership positions. Baby boomers also own more than 4 million companies. What does this mean for employers? How can companies fill the gap as skilled workers leave the workforce?"

Getting the right information to the right people at the right time is a critical component for success. Shouldn't your organization take steps to ensure that valuable information is captured?

Executive Forum's Knowledge Transfer Workshop will show you how you can avoid the coming Brain Drain and capture key information in a systematic way to ensure your organization isn't wasting time relearning what's already known.

Learn how to seamlessly transition during changes and ensure the right information is being captured and shared. Your employees will build confidence in their own abilities as they work together across multiple functions in the organization. Call 503.635.3079 or contact us for more information.

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