Great question! The first time I heard this metaphor was at the “How to Manage an Aging Workforce” SIG at PolyOne Canada Inc. last week. Carmine Domanico, Senior Human Resource Manager at PolyOne Canada presented a fantastic informational session on Aging Workforce.
The “Silver Tsunami” refers to the aging workforce.
10,000 baby boomers turn 65 every day – a trend that began in 2011 and will continue until 2030. In addition to the aging workforce, millennial opportunists are leaving companies to grow their career, this leaves HR professionals planning for employee exits.
Carmine reviewed 4 Ways for Companies to Overcome Aging Workforce Issues:
- Encourage Boomers to Stay
- Build a Mentoring Culture
- Invest in Employee Career Development
- Cultivate Millennials
- Details of these 4 elements are available in Carmine’s presentation: Aging Workforce
As always, what was discussed at the SIG was much broader than what is highlighted in this blog.
A warm thank you to our speaker, Carmine Domanico, Senior Human Resource Manager for sharing information on the Aging Workforce and PolyOne Canada Inc. for hosting the SIG event.