Opinion: The retirement brain drain
[13 July 2005 - HR Zone] With an ageing population, Godfrey Parkin wonders why so many companies have no formal process for passing on the knowledge of their most experienced workers at retirement. ... In most Western countries, the baby boomer bubble is causing concern for those planning pension and social security services. It should also be worrying employers. A quarter of current American employees will be retiring within the next five years. If the outgoing masses know anything of value and it is not being passed down to others in their companies, those organisations face a brain drain that could harm their ability to operate. ...