I founded this company with a clear purpose – to help baby boomer executives transition successfully into meaningful new assignments or into a new phase of life.
Global demographics indicate that executive talent is going to be increasingly scarce over the next 20 years. The Y-axis of chart below shows the birth years of employees in the workforce. The oldest people, born in 1946, are on the left hand side, ages decrease moving toward the right to the youngest workers who were born in 1994. The X-axis indicates how many people were born in a particular year. The baby boomers as a group are in red and the younger generation X cohort is behind them in blue.
Baby Boomer executives will be moving to the left and off the chart each year as they retire. An increasingly large executive talent gap will open up because there were simply not enough people born into the blue cohort to replace retiring baby boomer executives. Experts report that there will be 30 million unfilled professional jobs annually starting in just a few years.
To be successful, organizations in every sector are going to have to retain both their senior executives and emerging leaders, in a very competitive human capital environment. Allowing senior people to move to jobs they consider personally meaningful, is the key to talent retention and organizational success. Tight “job fit” for executives and senior professionals is the best weapon against brain drain in the global war for talent.