It may require a few hours of e-training or a semester-long course to learn how an energy pump operates, but it takes years and years of experience to recognize the sounds of a pump that is not operating properly. The only way to shorten that learning cycle is to have someone with more experience help to accelerate learning. Businesses idolize youth and technological savviness. But companies also recruit and retain mature employees because of respect for their knowledge. The best companies today will help their organizations transform the way they think about all of their employees.
Many baby boomers don’t plan to leave their children an inheritance
Many baby boomers don't plan to leave their children an inheritance - Los Angeles Times
Employee ownership keeps these businesses rooted for the long term. They make up Baby boomers own nearly half of all privately-held businesses with employees nationwide. The problem As baby boomer business owners retire, our local business landscape is poised to go through a dramatic shift. As a result, some of these companies will quietly close down, a very small percent will be passed on to family members, others will sell to another local owner, and some will be sold to a larger company or out of area buyer. Those in this last category will likely lay off employees and will further concentrate ownership and wealth. We have the opportunity to keep many of these businesses locally-owned for the long term and to deepen their positive impact on our local economy.
As baby boomers retire, Main Street could face a tsunami of change
Tasks, to-do lists, meetings, and more. Amidst that rush, the idea of writing a good business plan—much less following a business plan template—often feels time-consuming and intimidating. After all, when done right, business plans have enormous payoffs. And yet, more than 1 in 10 prospective business owners said they do not intend to write a business plan. Bplans worked with the University of Oregon to compile and analyze research around the benefits of business planning.
Deloitte Insights took a look at what this means for the workforce, which will now absorb five generations of workers. Some organizations will be more prepared than others for people working well past retirement age. Deloitte examined who our oldest workers are, what they need, what drives them, as well as how employers can create jobs that utilize the valuable set of skills they bring to the workplace.