“The best farmers prepare for a famine during a surplus.” 
My grandpa, Forrest Stokes, himself a farmer in Rice Lake, Wisconsin, spread this wisdom any chance he got: while budgeting finances, rationing fertilizer, or stealing Sweet & Low from Perkins. It’s proof that repetition is the key to education, because I have never forgotten this important lesson—a lesson that at once teaches foresight, restraint, conservation, and preparation.
I’m reminded of it because, amidst record-high unemployment and recent mass layoffs (in other words, a labor surplus), it’s counterintuitive to be concerned about employee retention. But many HR professionals are pointing out a perfect storm about to hit staffing departments: the loss of irreplaceable knowledge and experience as millions of baby boomers retire. The Baby Boomer Brain Drain.
According to the Bureau of Labor Statistics, the number of people entering the retirement sweet spot (ages 65 to 75) will grow by more than 80% by 2016 while the number of people in the prime of their careers (25- to 54-year olds) will grow a mere 2%. Customer service will be hit hard by this trend, with a combination of industry growth and employee departures leading to 1.2 million job openings.
A forewarned company recently called me for advice on how to handle the brain drain.
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