In the developed countries, the dominant factor in the next society will be something to which most people are only just beginning to pay attention: the rapid growth of the older population and the rapid shrinking of the younger generation… Determine whether your organization is betting on young people, older people or immigrants. ((Drucker, Peter F. “The Daily Drucker.” HarperCollins, 2004. Page 41))
It’s going to be an entirely feasible strategy to try and retain your senior talent for a bit longer than you normally would. Incentives to pass on knowledge or keep projects past their expected retirement dates will help transition to the next generation.
On the other hand, the increasing offshoring and immigrant influx may also be ways to get the talent you need. While there isn’t as much concern as there once was that the talent shortage will be extreme, I have growing concerns that a couple generations down the pipe (today’s 20 year olds) are not ready to step up for the mid manager and mid professional roles. Just as we’re worried about topday’s mid professionals not being ready to be our senior talent, the middle is also facing a void. Decide how you’re going to address the problem and then attack it with a vengeance.
One response to “Shrinking of the Younger Population”
Yes, Demographics would be key for work distribution and you have raised a valid point about managment candidates in a decade to come, I think organisations need to identify prospective management candidates,invest time and energy in grooming employees and prepare them to be future managers.