Concerned about key staff retiring?

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Boomer Links

The greying of the Baby Boomers has some executives worried about what to do about losing key staff to retirement in the next five to 10 years.

A survey of 100 executives at large Canadian companies, conducted for Robert Half International, Inc., found that 61 per cent of the respondents were "very" or "somewhat" concerned.

Max Messmer, chairman and CEO of Robert Half International Inc., said there will likely be shortages of skilled workers as members of the baby-boom generation retire. "Tenured employees take with them valuable experience, industry contacts and knowledge of best practices that are difficult to replace."

However, 89 per cent of the survey respondents said they are taking steps to deal with the retirement of key staff over the next decade. That includes training and professional development, succession-planning and employee recruitment.

For more information on Baby Boomer retirement, go to: http://home.att.net/~coachthee/Archives/babyboomerstoday.html

Source: The Canadian Press, www.Canada.com