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Published on September 18, 2007

Author: Malbern

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Retaining Organisational Knowledge:  Retaining Organisational Knowledge Strategies and Techniques for Managing the Maturing Workforce Ross Pearce Senior Managing Consultant Slide2:  Please switch your mobile phones to silent mode or off Topics:  Topics The demographic challenge Measuring your changing workforce Rising to the challenge Mid life demands and transition to retirement The future Slide4:  The global picture 19% of the entire U.S. workforce holding executive, administrative and managerial positions will retire in the next five years. In the year 2000, there were more people receiving pensions in Italy (22M) than people working (21M). Within the next seven years, over 33 million individuals in Japan (26% of the population) are expected to be over 65 years old. By 2016, the number of individuals aged 60-64 in Australia is expected to almost double. Within 30 years, 200,000 more jobs than workers. Source: Beazley, et. al, Continuity Management, Mackay, Alan. 'Mature Age Workers: Sustaining Out Future Labor Force.' An Ageless Workforce - Opportunities for Business' Symposium Conference Paper. August 27, 2003. www.ageing.health.gov.au/ofoa/wllplan/aawpapers.htm, Time to act quickly on aging.' The Japan Times Online. August 23, 2002 www.japantimes.co.jp/cgi-bin/getarticle.pl5?ed20020823a1.htm, A. Paulli, 'Pension systems and gradual retirement in Italy', September 2000, p.17 New Zealand labour force growth:  New Zealand labour force growth Source – Statistics New Zealand Labour supply and demand:  Labour supply and demand Ageing population By 2051, 40% of the NZ workforce is projected to be in the 45 to 64 yr age group 1991: 2(24-44yr) :1(45- 65yr) moving to 1:1 by 2013 The labour force increased by 35,000 in 2004; in 2020 it will increase by only 3,000 In 2004, 61% of NZ firms had difficulty finding skilled staff, up from 55% in 1994 In 2004, 25% of NZ firms were limited in expansion because of a shortage of labour Unemployment is now at a 21 year low Source: Statistics New Zealand Labour force over 65 Births and fertility:  Traditional family structures In 1976, 9% of families with children were one parent families, this increased to 19% in 2001 More children are growing up in families with both parents working – 53% in 1986, 58% in 1996 Births and fertility Average age of first time mothers now 30 - 34 years Birth rate now only 1.95 children per woman Source: Statistics New Zealand Ageing population Slide8:  Trends in the Public Service 1995-2003 Slide9:  Predicted Trends in the Public Service 2004-2013 Public Service:  Public Service In 1995 the Public Service reported a lower proportion of older* workers. Since then, however, the growth of older workers has been considerably higher than the overall labour force and the Public Sector now reports a higher than average proportion. This trend is set to continue. Since the mid 1990’s the proportion of older workers in the Public Service has almost doubled from 7.4% to 14.3%. One department reported that almost 4 out of 10 of its staff were over the age of 55. *Older workers = over 55 years of age IT Sector – Age Profiles 1991-2001:  IT Sector – Age Profiles 1991-2001 IT Graduates:  IT Graduates About 1,300 undergraduate degrees and postgraduate diplomas with an IT major were awarded in 2005 by tertiary institutions in New Zealand This was 23% lower than the number awarded in 2003 when the number of achievements peaked. Enrolments peaked in 2001 and since then have gradually declined. Between 2001 and 2005, enrolments declined by 44%. The declining trend in enrolments indicates that the number of degree and postgraduate achievements will decline further over the next few years. What is IBM doing to support our clients?:  What is IBM doing to support our clients? Maturing Workforce Diagnostic Assessment Six strategies to address maturing workforce issues Measuring your changing workforce Our workforce is changing Fewer workers, greater competition for them The composition of our workforce is changing to become increasingly intergenerational Teams comprise veterans, baby boomers and Gen X andamp; Y’ers Organisational Readiness - Key Questions to Answer:  Organisational Readiness - Key Questions to Answer What do you see as your company’s key human resource requirements in the next 5 to 10 years? Does your company have a detailed understanding of its employee demographics and what key positions or job categories may be at risk in the near future? Has your company identified potential opportunities for attracting and retaining mature workers using part-time or alternative work arrangements? Organisational Readiness - Key Questions to Answer:  Organisational Readiness - Key Questions to Answer To what extent is the retraining and acquisition of new skills by mature workers part of your company’s overall learning and development strategy? Does your company have a strategy in place to preserve critical knowledge before it walks out the door? How effectively are age-related issues addressed within your company’s overall diversity strategy? Responding to age-driven change: Most solutions will be multi-dimensional, drawing from several disciplines/domains:  Responding to age-driven change: Most solutions will be multi-dimensional, drawing from several disciplines/domains Ageing Workforce Management Diagnosis – size and scope of the risks and opportunities:  Diagnosis – size and scope of the risks and opportunities Management Presentation/ Report of Findings Projected Attrition/ Value Assessment Readiness andamp; Business Risk Applicable Solution Demonstrations Recommended: Strategies Actions Good Pracs./Stds. Organizations have adopted key strategies to help address the growing number of mature workers:  Organizations have adopted key strategies to help address the growing number of mature workers Redirect recruiting and sourcing efforts to include mature workers Retain valued employees through developing alternative work arrangements Preserve critical knowledge before it walks out the door Provide opportunities for workers to continually update their skills Facilitate the productive coexistence of a multi-generational workforce Ensure that mature workers are able to use technology effectively in the workplace Six strategies for addressing the challenges of a maturing workforce Summing it up:  Summing it up Decreasing number of net entrants into market Increasing number of retirements Global Challenge driving migration pressure Want to target greatest possible workforce (diversity) Want high skills, experience and knowledge Want people to work longer Want people to stay Want people to pass on their knowledge WORKFORCE Rising to the challenge - IBM:  Rising to the challenge - IBM Understanding the impact What are we doing - Building the strategy Raising awareness Measuring the success IBM A/NZ Corporate Diversity Strategy:  IBM A/NZ Corporate Diversity Strategy Cultural awareness and acceptance (GLBT, Indigenous, multiculturalism) Intergenerational Diversity Work and Life Flexibility Women in the Workforce People with a Disability IBM's Diversity Strategy Slide22:  Strategies - Your flexible career Retaining Continued career development Flexibility (hours and leave) Greater work style options Greater lifestyle options Manager engagement Resources (work/life essentials) Health andamp; Wellbeing seminars Blue Horizons benefit program Phase 1 Attracting Employer of Choice Walking the talk Inclusive recruitment practices Culture Measures Strategies - Your knowledge and skills:  Strategies - Your knowledge and skills Career Development Continued Learning Help yourself career development Individual development plans Performance Management systems Retention tools focused on intergenerational diversity Succession Planning andamp; Top Talent Programs Phase 2 Pre-retirement Knowledge capture Knowledge transfer – succession planning Retirement transition Tapered retirement Flexible work options Flexible networking group Financial andamp; well-being seminars Service recognition Strategies - Your retirement:  Strategies - Your retirement Flexible re-engagement IBM Retirees as a recruitment pool Variable work program for IBM retirees On-Demand Community Phase 3 Post-retirement Retirement team functions Grants for continued training Keeping engaged – On Demand Community Quarter Century Club Flexible work arrangements:  Flexible work arrangements Adrienne Two young children Split workplace – office and home Split hours – morning and evening Technology enabled Flexible work arrangements:  Flexible work arrangements Denise Had retired Now a project manager Reduced management responsibilities Great knowledge, skills and experience Great for our clients What does retirement look like?:  What does retirement look like? Source - IBM Employee engagement – employee surveys :  Employee engagement – employee surveys Top 3 priorities for employees 45 years plus Work Life Flexibility Financial Development Source - IBM Benefits:  Benefits Win/Win for business and retirees as follows: Business: Better workforce planning Retain knowledge, skills and experience Build external and internal reputation of mature worker friendly organisation Better placed to serve our customers Employees: Have more financial options Options to stay connected to work Have more control over their transition to retirement Measuring Success:  Measuring Success Level of engagement of HR policy/programs Attraction statistics Prolonged retention statistics Employee Satisfaction Diversity Inclusive Culture The future:  The future Professional nomads Alumni andamp; returning workers Ethics, culture and vision Free association Networks based on trust Ecosystems A new relationship with colleagues Technology allows a global workplace http://infiniaforesight.com/blog/fow Conclusion:  Conclusion Get used to the fact the world is changing Listen to your people Be flexible Put strategies in place to counter the problem Slide33: 

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