I was reminded recently of a huge challenge continuing to brew in the background as we busy ourselves with the economic crisis - the retiring workforce.
Check out the lead in to this article, The Dark Side of the Retirement Bubble by Stephen Xavier over at Chief Learning Officer. (Unless noted, the other quotes are from the same article.)
Another perfect storm is brewing and is due to hit businesses once the economic emergency is over: the loss of irreplaceable knowledge and experience as millions of baby boomers retire.
Xavier's article is a well-written reminder of what many companies are going to be faced with - or are already facing - as many of our leaders move on into retirement (or were forced due to the economy). How ready is your organization?
There is insufficient bench strength within most companies to fill the void that will be left by retiring baby boomers.
Preparing the next generation of leaders is something many of our customers are already using Mediasite to do. Here is selection of case studies that touch on this topic.
What we produce is knowledge and a lot of that knowledge resides within the people here, and without preserving that sensitive information, it will be lost as our experts retire. Rogulja Wolf - Streaming System Development and Content Manager - Sandia National Laboratories. Read Case Study.
Part of the driving force behind our search for a webcasting solution was the concern that the information our senior employees possess would go out the door with their impending retirement. For our own long-term success, we realized we needed to capture that knowledge and incorporate it into our current training programs. Katy Foulk - Knowledge Management Coordinator - Bandag Corporation. Read Case Study.
There are others that we haven't formally documented. For example, a large airplane manufacturer that reduced the time it took to record critical employee training by 75% with Mediasite. Their main use? Capturing the expertise of their senior staff.
In most companies, HR has not yet articulated the great urgency of filling the void soon to be left by retiring baby boomers.
In some ways, this is a bit like the race to come that I mentioned earlier. What can you do today, to prepare for what's inevitably coming tomorrow? And what role might webcasting play in your solution?