3 Ways to Prepare for the Retirement Boom

Cornerstone On Demand

Today, I'll explore a topic leaders have been hearing for a while, but not yet heeded: Baby boomers are reaching retirement age. Baby boomer retirement means over 40 percent of the 9-to-5 corporate workforce will be gone in the next decade. However, the "Silver Tsunami" many economists predicted has not come to total fruition — boomers may or may not retire on time, due to the economy and their pension funds. If the baby boomers don't retire?

Government Talent Crunch: Why Training Matters More Than Ever

Cornerstone On Demand

They're facing personnel cuts, pay freezes and disappearing budgets—just as baby boomers begin to retire. And as agencies race to fill vacant or soon-to-be-vacant positions, training programs often get slashed first, says Richard Greene, a principal with Barrett and Greene Inc., Why training programs? But if you cut training, your constituency is just internal government workers."

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Companies Are Not Prepared for Aging Workers

HR Bartender

The challenge is reframing the retirement conversation. Years ago, retirement was like resigning. You went into the office one day and you said, “I’m retiring.” When you retired, you stopped working and started collecting your pension. Today, retirement looks very different. They are trying to plan a phased retirement. Some people are announcing their retirement, leaving the working world for a few months, and then asking to return!

Future Friday: The future of retirement is in danger!

OmegaHR Solutions

A large number of employees don’t plan for retirement. A just released report indicates that the retirement life for a large part of the population, around the world, is going to be dire in ten to thirty years. The HSBC report indicates that in the US 25% or more of the population does no planning for retirement, but internationally 38% do no planning. Generally they have no idea of when to start saving for retirement or how much.

Work Journals Help Employees Accomplish Their Goals

HR Bartender

A participant in one of my training sessions labeled it a “ Step Away from the Kumbaya ” activity. Or looking to plan a retirement strategy? Career Development Strategy and Planning Training and Development Well-Being and Wellness Leadership and Management training and developmentJournaling is the notion of keeping a written record of thoughts and experiences. For some of us, our first journaling experience might have been keeping a diary when we were younger.

How To Build a Successful Mentoring Program

HR Bartender

The Boomer generation is planning to leave the workforce (or at least transition to part-time or semi-retirement). The Boomer generation is planning to leave the workforce (or at least transition to part-time or semi-retirement). Career Development Employee Relations HR Tech and Social Media Leadership and Management Recruiting and Retention Training and Development strategic planning training and development

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6 Steps to Take Before Key Employees Retire

ATD Human Capital

An increasing number of workers are approaching retirement age in the United States. Knowledge is often categorized as explicit (overt) or tacit (hidden): Explicit knowledge is codified information normally found in documents, databases, or procedure manuals, or learned in school or formal training. One organization that is facing this threat of impending retirements is KONE, a major Finnish company (with a large U.S.

Your 5-Day Plan to Learning Pinterest

HR Bartender

They have several boards such as “Making a Difference”, “Careers and Job Hunting”, and “Saving for Retirement”. Career Development Consulting HR Tech and Social Media Training and Development Recruiting and Retention social media I still remember a keynote presentation by Daniel Pink at SHRM’s Annual Conference. He told attendees that we should regularly read creative magazines/books to understand design. Because design is important. Design can inspire us.

Retain Your Older Workers (It’s Good for Business)

UpstartHR

According to a recent CareerBuilder survey, more than half of workers over age 60 plan to continue working in some capacity after retiring from their current career. The Risk of Employee Retirement When I was working as an HR Director several years back, an employee called me and told me he planned to quit. With him gone it would be virtually impossible to train someone without his expertise. General Benefits Retention Retirement Strategic HR Strategy

Retirement Plans 101

HR Daily Advisor

When it comes to retirement planning, the options can sometimes seem overwhelming. Individuals may be able to participate in employer-sponsored plans, and they may also have their own separate retirement savings. Today and tomorrow, business consultant and HR Daily Advisor contributor Bridget Miller provides the basics on the various retirement benefit plans that employers may offer to employees. A defined benefit plan pays a set amount upon retirement.

Boomer Exodus—the Benefits of Partial and Trial Retirement

HR Daily Advisor

workforce continues to see an entire generation reaching retirement age, the issues surrounding transition into retirement become more and more prominent. Let’s take a look at some retirement transition options and what both the employer and employee can gain from them. Retirement Transition Options. For employers, assisting with retirement transition can mean many things. Employer Benefits to Offering Partial or Trial Retirement.

A Few Thoughts on Nonqualified Deferred Compensation Plans

Something Different

To be sure, there are a ton of great articles out there that do a much better job of explaining the concept than I could in this space (you can start here , here , here , and here ), but in short: Nonqualified Deferred Compensation Plans (NQDCPs) are offered by many employers to help highly compensated/executive employees save earnings for retirement over and beyond what is allowed through qualified plans (such as 401ks). Benefits 401k hr human resources NQDCP retirement

What Are We Retiring From?

Thrive Global

I’m noticing right now that a lot of my ministerial colleagues are retiring. The classic picture of retirement that gets pitched to people by insurance companies, housing developers etc. CT 16, 2015”. The Journey Continues.

Beware the "Gray Ceiling": How to Manage a Multi-Generational Workforce

Cornerstone On Demand

Thanks to a combination of delayed retirements, improving-but-still-slow job growth and increasing life expectancy, older workers are waiting longer to exit the workforce—meaning millennials and generation X employees who were poised to take the field have hit an unforeseen obstacle: “ the gray ceiling." Each of these groups has different needs and wants, from attitudes about career to vacation schedules and training and development.

The 'Unbundled' Organization Will Win the Talent War

Cornerstone On Demand

" She was trained in a "hire-to-retire" mindset, and her talent battles were won with great succession planning, performance management, learning and development and robust benefits packages. Today employees no longer want to work at one company from hire until retirement and, in some cases, don't want to work for a company at all. Meet Cindy.

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Why You Need a New Strategy for Retaining Female Talent

Cornerstone On Demand

Four shifts, in fact: Women are leaving the corporate world; nearly half of Americans will be retiring from the workforce in the next decade; minorities are now the majority; and freelancing is the new 9-to-5. Set standards for both genders and give managers the training they need to be comfortable managing flextime workers. There are big changes coming to American companies.

Ready or Not, Here Comes Generation Z

Cornerstone On Demand

Be ready to teach and train them. But due to automation, high unemployment and Baby Boomers reluctant to retire, Gen Z is being shut out of these early life experiences. For managers still trying to figure out the Millennials, I have some disturbing news. Generation Z is already knocking on HR’s doorstep. With this addition to the workforce, we now have 18-year-olds and 80-somethings and all ages in-between seeking employment. This is unprecedented. Are businesses ready?

Why the Buzz about Employee Engagement and Company Culture?

CultureIQ

According to Deloitte’s Global Human Capital Trends 2015 , company culture and employee engagement is a driving issue for the top companies in the world. For the most part, they no longer prioritize staying at a single job until retirement, and instead, they are more likely to choose a job that interests them and aligns with their passion and values.

The HR Leadership Revolution — Will You Thrive?

Visier

New, first-time workers are barely replacing workers who are retiring. A February 2015 study — conducted by Harris Poll on behalf of Visier — surveyed 301 corporate executives at companies with revenue of $1 billion or more across America and asked about sought-after HR leadership skills. You should also consider making data literacy training a key component of development programs for you, your HR business partners, as well as line managers.

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Why Addressing the Aging Workforce in Manufacturing Requires New Tactics

Cornerstone On Demand

As Baby Boomers reach retirement, the manufacturing industry is facing a skills dilemma. As more and more workers reach retirement, finding and training younger talent to replace experienced employees is become increasingly difficult. Cornerstone's Observation Checklist can be used as the last step in on-boarding to validate an employee's skills, and help connect what was taught in training class with job performance through checklist validations.

Webinar: What Government Leaders Need to Know About Succession Planning

Cornerstone On Demand

These challenges are compounded by the looming departure of an entire generation of government employees as Baby Boomers prepare to retire. Gen Xers typically lack the training needed to fill leadership roles left vacant by retirees, and Gen Y employees are likely to move on to new career paths before they have an opportunity to make a meaningful contribution to their current company.

The 5 Philosophies of a Great L&D Program

Grovo HR

Training is an important function of any L&D program. But training is not the use case around which you should seek to build your learning program. Think of training as the preparation it takes to hit short-term performance goals. Development also helps engage and retain the best people, since it’s the most coveted job perk today— more than cash bonuses or retirement benefits. “Long-form training? Learning & Development Training hr

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Facing a Dearth of 'B Team' Talent, Governments Give Thanks, Stakes and Purpose

Cornerstone On Demand

are facing a common HR problem: They lack a strong “B team," or trained and experienced employees who are ready to replace soon-to-retire veterans and move into leadership roles. Governments invest heavily in training new hires, who don’t become productive for a year or more. State governments across the U.S.

3 Ways to Engage the Next Generation of RNs

Cornerstone On Demand

As experienced nurses retire and healthcare reform expands coverage, the need for nurses is exceeding the supply. With a talent shortage and an increasingly young workforce, it's critical for hospitals to provide access to education and training for nurses. Provide 24/7 Access to Training. Katrina Greer applied to college planning to become an orthodontist.

How HR Can Tackle Diversity Using the Rooney Rule

Visier

In August 2015, the need for more workforce diversity was spotlighted in a big way when President Obama issued a call to action to technology companies, encouraging them to hire more women and minorities by implementing the Rooney Rule. Dropbox is committing to unconscious-bias training for all it’s employees (over 1,200 people), and to regularly release data on the diversity of its workforce.

More Retirement Plan Options—Which One Is Right for Your Business?

HR Daily Advisor

In yesterday’s Advisor , business consultant Bridget Miller wrote about some of the options out there for employer-provided retirement plans; today, Miller provides some more retirement choices for employers to consider. Individual Retirement Accounts, or IRAs, are commonly associated with individuals rather than businesses. HR.BLR.com is your one-stop solution for all your HR compliance and training needs.

From Hire to Retire…Technology Overview

NGA Human Resources

Two of management’s biggest challenges are effectively onboarding and offboarding—respectively, the seamless integration of new workers into the system and the removal of those retiring— while ensuring that the company consistently maintains the capacity for achieving its mission and business goals. How does your company approach the hiring and retiring of employees? There’s no escaping the workplace reality that jobs are terminated as employees reach retirement age.

Taking a closer look at two major trends in the workplace

Ceridian

In 2015, there are numerous trends taking the business world by storm, many of them related to ongoing trends in employee demographics and business technology. For example, we’re seeing a constant shift in who dominates the workforce – while previously, boomers had greater numbers and more power, they’re now beginning to drift away into retirement […].

100 SHRM Chapter Seminar Program Ideas

UpstartHR

No, really, please use the 401k: how to drive engagement in retirement plans. Get outta here: how to prepare your employees to retire. Hands off: supervisor training essentials. How to keep people awake in training (without using coffee). Why you need to train your supervisors. Anylearning: How to encourage employees by offering non-work related training.

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Benefits That Employees Value More than Pay Increases

Something Different

401(k) plan, retirement plan and/or pension: 31%. on-the-job training, professional development): 19%. Of note 401K/Pension is 5th on the list at 31%, meaning that just under a third of employees value retirement benefits from employers more than increased salary. Thanks to HLBR for sharing this Glassdoor survey highlighting the perks that employees most value. The benefits valued more than pay raises, in order are: •Healthcare insurance (e.g., medical, dental): 40%.

5 ways to encourage collaboration between Generations X and Y

Ceridian

There are two undeniable trends happening in the present day – one, the baby boomer generation is gradually moving into retirement, and two, millennials are entering the office in full force. Employee Engagement communication skills employee training generation X Generation Y HCM HR human capital management Human resources millennial

Making the Most of Employment Branding

HR Daily Advisor

They want to be kept in touch with, and that includes … retirees who, because of the stock market and things like that, might reconsider their retirement and want to come back. Start on Friday, October 2, 2015, with a new interactive webinar— Employment Branding: 8 Secrets to Unlocking Your Organization’s Branding Success! Join us Friday, October 2, 2015, for a new interactive webinar, Employment Branding: 8 Secrets to Unlocking Your Organization’s Branding Success!

The Win-Win of Leveraging Baby Boomers

China Gorman

What will retirement look like for me? When will I want to retire (because it certainly is the last thing on my mind now…)? Offer Skills Training. Train Managers and Supervisors. Provide Support for Retirement Planning. I’m a Baby Boomer, born smack-dab in the middle of my generation. And I’m beginning to concretely think about the answers to questions like: What is the legacy that my career will leave behind?

The Recognition Landscape Isn’t Changing Much

China Gorman

Also notable is the drop in retirement recognition programs as a prevalently used program. WorldatWork’s data pointed to organizations moving towards recognition programs that can be leveraged to have a more direct impact on business results (like peer-to-peer recognition, programs to motivate behaviors, and above-and-beyond performance) vs. recognition programs like length-of-service and retirement recognition programs which have been in use for many years.

The HR Leadership Revolution — Will You Thrive?

Visier

New, first-time workers are barely replacing workers who are retiring. A February 2015 study — conducted by Harris Poll on behalf of Visier — surveyed 301 corporate executives at companies with revenue of $1 billion or more across America and asked about sought-after HR leadership skills. You should also consider making data literacy training a key component of development programs for you, your HR business partners, as well as line managers.

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Morning Joe’s Mika on Confidence and Negotiation

HR Daily Advisor

Find out on Tuesday, September 15, 2015, with a new interactive webinar, Next-Generation Leadership: Three Proven Ways to Strengthen Your Leadership Bench. executives will be eligible to retire in the next five years, yet Generation X is not large enough to fill this leadership gap. Join us Tuesday, September 15, 2015, for a new interactive webinar, Next-Generation Leadership: Three Proven Ways to Strengthen Your Leadership Bench. Tuesday, September 15, 2015.

Onboarding New Employees: A Strategy for Retaining Your Best Workers

Brazen HR

Maybe you were thrown head-first into your role after simply being handed an employee handbook or perhaps you took a series of training classes to learn about your position and the new company. The Onboarding Champion, who is likely part of your HR or recruiting team, should be trained in the inner workings of the company. Do you remember what your last onboarding experience was like?

The Benefits of Employee Mentoring Programs

HR Daily Advisor

This is especially important as more and more Baby Boomers retire, and mentoring can even factor into employee succession programs. Be an important component of onboarding and training for new employees. Be a part of a cross-training program, which can reduce skills gaps among employees. She’s been working in the corporate world for over 15 years, with experience across multiple diverse departments including HR, sales, marketing, IT, commercial development, and training.

How Mentors Can Help Improve the Onboarding Experience

TLNT: The Business of HR

All too often, though, companies view onboarding as a transactional, one-time event in which the new hires spend their first few days filling out forms or sitting in on training sessions. Deliver on-the-job training. While many organizations provide employees with training and development, this is typically in the form of classroom-based courses or independent learning initiatives. Onboarding is one of the most crucial steps in the hiring process.

The 5 Critical Things That A Good Manager Never, Ever Delegates

TLNT: The Business of HR

Once you have someone on board, continue to mold and shape them with training, team culture, motivation, and any other tools at hand to ensure they fit as seamlessly as possible into the team. Succession training. No matter how healthy you are, someday you’ll either retire, die, leave the company, or suffer a long-term illness. Editor’s Note: Readers sometimes ask about past TLNT articles, so every Friday we republish a Classic TLNT post.