The challenge for most organizations is how they can build a talent pipeline fast enough to replace this massive Boomer population. Statistics Canada indicated that 25 years ago there were 3.7 people entering the workforce for every retiree, today that number is 1.9. A staggering 48.6% reduction in the number of people entering the workforce. This is a herculean problem that will not be solved soon. According to Bowlby, "That will have an impact on the labour market well into the future, probably for the next two decades".
The other force at play is the generational issues or the elephant in the room that no one wants to talk about. Lynne C Lancaster co author of When Generations Collide: Who They Are. Why They Clash. How to Solve the Generational Puzzle at Work (HarperCollins 2002).
Lancaster's research states that, GEN Xers like to know “So how am I doing?” and they "Give feedback all the time and to the point: be available; allow freedom to keep them learning and focused on career paths; immediate and regular feedback; tell it like it is (Xers have a well- tuned BS-ometer)"
Building meaningful relationships is key to succession planning and becomes more important for the Boomers and Xers as they understand their generational differences and prepare the Xers for their next role. A CEO once told me "life is too short to be working with jerks". So how does one build good relationships? My own personal experience is that whether you are a people manager or not, we all have an opportunity to build positive relationships as we go about our daily activities in the office place.
It comes down to trust, according to Ken Blanchard, famous author of The One Minute Manager and also co author of Helping People Win At Work, wherein he cites a study conducted by a distinguished group of theorists and researchers at Stanford University, who measured the impact of trust on organizations. "Without trust, it's difficult if not impossible to inspire commitment and loyalty from your people".
