Retaining Talent and Knowledge
Whether consciously or not, many senior-level executives start looking into retirement or make actual plans to retire because of job dissatisfaction. Our experience shows that some of them might have stayed on if they had had more creative options. When appropriate, we help executives and their companies identify and investigate some of these options. Rather than leave, the executive might elect to redeploy as a mentor to younger colleagues, take on a new management role or stay in another productive capacity. Giving valued members of your team new ways to pursue professional and personal satisfaction helps retain key talent and knowledge. One option in particular, mentoring the next generation of leaders, ensures that incoming managers will have the grounding, knowledge and perspective they need to perform well.
As the Baby Boom generation reaches retirement age, companies are analyzing their demographics to evaluate what skills or knowledge they need to keep, which they can afford to lose, and how to retain skills. New Directions can advise you on these issues and explore with you other innovative steps companies and organizations are taking to retain knowledge, including the use of flexible hours, job sharing and part-time consulting roles for retired employees.