Look around at your organization…how many of your top leaders were born between the years of 1946 and 1964? Everyone you work with who is from 41 to 59 years old will be leaving the workforce in the next ten to fifteen years. What effect will this have on your organization? Many of you have already to begun to feel the effects of the massive baby boomer retirement. The U.S. Census estimates that the baby boomer group is made up of at least 82,826,479 individuals. Some are projecting dire consequences of this massive retirement. The market will correct and find a way to improvise, but finding the right solution requires that we start thinking strategically now.

If your organization has not felt the effects of increasing baby boomer retirement, be advised you soon will. Now is the time to develop a comprehensive strategy to develop new leaders in your organization. There are many solutions for your organization, but the key is to start planning now. There are three immediate strategic solutions your organization can employ: find solutions to outsource your current labor needs, find meaningful ways to help baby boomers contribute to your organization, and start actively investing in leadership development for your organization to develop the future.

Outsourcing Many of the jobs that we are now all doing can be done much cheaper than we are currently doing them. Have you checked out the outsourcing tools available via the internet lately? I recently started using a company called e-lance.com to get done some of the research I have been struggling to find time to do. This induced my thinking to look for other ways in my life that I off load the administrative tasks of my life. There are smarter ways to do business out there and to streamline your current organizational processes. Organizational survival in the next 10 to 15 years rests on the back of you finding ways to get done many of the tasks you are currently completing for a fraction of the cost you are currently doing them, outsourcing might just be your solution.

Baby-boomer Contribution Many of those who will be retiring in the next few years are in far better health then were there parents at this age. Many baby-boomers are looking for ways to contribute back after retirement. When your employees are leaving your organization, are you setting up any sort of program to help them continue to contribute back to the organization? Key Point: Do not let your employees walk-out the door without having some sort of plan in place to engage them in their retirement years. Human capital is the most valuable asset your organization has. It cost you a lot to get it and train it, find a way to retain it, even in retirement.

Train the Next Generation With the baby-boomers retiring younger workers are being asked to step-up into positions of responsibility at an earlier age. Now is the time to start training the next-generation of leaders. Traditionally organizations have only provided training for their executive level. If you want to be one of the companies that will get ahead during the retirement crunch, you need to at least start training in your organization at the supervisor level. Many organizations have begun training their supervisors with leadership skill sets. If you start now you will get ahead.

In short companies who focus on outsourcing, retaining, and training will win in the future.

If you are interested in learning more about how you can develop your next generation of leaders in your organization join me and my colleagues for the Leadership Challenge Preview in Sacramento.

The Leadership Challenge Preview (FREE)

When: October 12th, 2007 (8:30 AM – 12:30 PM)

Where: The Residence Inn Marriot, 1501 L Street, Sacramento, CA 95814

How to register: REGISTER Click to Open Web Page

Registration in limited to the first 60 people. Participants will receive a copy of The Leadership Challenge, 4th Edition.