Image via WikipediaU.S. business community is facing a war of intelligence attrition. Fortune 500s will see countless experienced knowledge workers walk out the door over the next two decades. The U.S. Armed Forces are losing millions of officers and key personnel to retirement. Some 900,000 white collar workers from the executive branch of government, and another 5,400 federal executives, will be up for retirement by 2016, according to a 2007 study from the video conferencing company Tandberg.
A 2007 McKinsey Quarterly survey found that the Baby Boom generation is "the best-educated, most highly skilled aging workforce in U.S. history." Although they’re only about 40 percent of the workforce, they comprise more than half of all managers and almost half of all professionals, such as doctors and lawyers.
As the boomer generation (those born between 1946 and 1964) retires, executive leadership faces a daunting task: how to ensure key intelligence and know-how doesn’t walk out the door when they retire. The loss of business intelligence and corporate knowledge, especially in R&D-focused organizations, could amount to billions of dollars in lost intellectual capital. Leaders must act fast.
Even those organizations with young employees must consider knowledge management. Knowledge loss also occurs as key personnel resign or are lost to illness or tragedy, taking with them a trove of irreplaceable knowledge.
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