Talent Risk Management - The Aging Workforce

March 7, 2018 Talent Risk Management Summit Participant SURVEY
Understand your Talent Bench

Replicate the NEWMA survey for your company to understand needs:

  1. What is the average tenure of your production/engineering workforce?
  2. What is the average age of your production/engineering workforce?
  3. How many of your key occupation employees are in the following age groups:  45-50, 51-55, 56-60, 61-65, and 66+?

Anderson Leadership Group - Talent Bench Review     

Steve Trautman Co. - Knowledge Silo Matrix 

Steve Trautman's 3/7/2018 PPT Presentation

Knowledge Transfer

Mentorship Programs

Inc. Magazine’s article How to start a Mentoring Program - https://www.inc.com/guides/2010/04/start-mentoring-program.html?cid=email

Steve Trautman’s book ‘Teach What You Know:  A Practical Leader’s Guide to Knowledge Transfer Using Peer Mentoring'

Registered Apprenticeship

Sargento's Talent Development Program

Bemis Company’s Maintenance Trainee Program (MTP) is designed to develop internal team members who are interested in becoming future Electro-Mechanical Technicians. The program prepares participants for careers on maintenance teams within Bemis and is designed to increase bench strength for these valuable technical roles.

16 Essential Steps to Writing Standard Operating Procedures

 Other Resources

Steve Trautman Co. Website

Academy of Advanced Manufacturing

Background on the Talent Risk – Aging Workforce Initiative

Since 2013, the NEW Manufacturing Alliance membership has been discussing the issue of baby boomers leaving the workforce and the challenges that will be faced by companies.  At the 2014 Manufacturing First Expo, David DeLong co-author with Steve Trautman spoke on their book, “Lost Knowledge – Confronting the Threat of an Aging Workforce.”  One of the focuses of the book is utilizing a matrix that identifies skills needed and who at the organization has knowledge/expertise in each area. 

At the September 2016 Talent Task Force meeting, there was a brainstorming session related to retired workers.  It was determined that there needed to be a task force focused on this topic to learn best practices and research how companies can mitigate the risk of losing talent due to retirements.  

The task force first developed and distributed a survey to explore the concerns of manufacturers on this topic, along with understand what occupations had the largest number of people aged 56 or older.  The Alliance members were surveyed in March and April 2017.  Fifty-five companies completed the survey; they employ 30,431 people or 28 percent of the entire manufacturing workforce in the region. The findings highlight their concern and demonstrate the need to develop a strategy to address this issue.  

Survey Results

This webpage has best practices and research findings related to this topic.  As the Talent Risk Management Task Force works on this issue, key learnings will be added to this webpage. 

Develop a Talent Risk Strategy at your organization:

Utilize the Define/Measure/Analyze/Improve/Control flow chart.

Understand your Talent Bench

Replicate NEWMA survey for your company to understand need:

  1. What is the average tenure of your production/engineering workforce?
  2. What is the average age of your production/engineering workforce?
  3. How many employees are in the following age groups:  45-50, 51-55, 56-60, 61-65, and 66 and over in key occupations within your organization?

Anderson Leadership Group - Talent Bench Review     

Steve Trautman Co. - Knowledge Silo Matrix 

Engagement Methods

HR Daily Advisor – “How to Keep Older Workers Engaged on the Job”

NTAR Leadership Center's Employer Strategies for Responding to an Aging Workforce

Succession & Transition Plans

Best Practice from a Green Bay company:  Each six months all employees are asked what there short term and long term career goals are.  The manager and the individual then discuss these goals to determine what steps may be needed as far as further education or experience.  As needs are established, these people are then prepared for that role.  In some cases, in order to get the appropriate experience, the company has gone so far as to create a position (opportunity) for the individual to help be prepared, so they can then take over the upcoming retiree’s position.   

Ariens Company - Retiree Sunset Program

Delay Methods

5 Benefits of Delaying Retirement:  http://money.cnn.com/2017/04/27/retirement/delay-retirement/index.html

Which Employees are Delaying Retirement & Why:  https://www.towerswatson.com/en-US/Insights/Newsletters/Americas/insider/2014/which-employees-are-delaying-retirement-and-why

Sloan Center on Aging & Work at Boston College’s study Flex Strategies to Attract, Engage & Retain Older Workers

Knowledge Transfer

Mentorship Programs

Inc. magazine’s article How to start a Mentoring Program - https://www.inc.com/guides/2010/04/start-mentoring-program.html?cid=email

Steve Trautman’s book ‘Teach What You Know:  A Practical Leader’s Guide to Knowledge Transfer Using Peer Mentoring

Registered Apprenticeship

Bemis Company’s Maintenance Trainee Program (MTP) is designed to develop internal team members who are interested in becoming future Electro-Mechanical Technicians. The program prepares participants for careers on Maintenance teams within Bemis and is designed to increase bench strength for these valuable technical roles.

16 Essential Steps to Writing Standard Operating Procedures

 Other Resources

Steve Trautman Co. Website

Sponsors

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