I was recently invited to speak with guest host, Cheryl Casone, on Fox Business “Money with Melissa Francis” about the seismic shift coming in the workforce (Click here to watch the video).
In the next 7 years 25 million Baby Boomers will retire and Gen-Xers and Millennials will start to dominate the workplace. By 2020, as many as five generations could be working together. Succession planning will become an even more critical issue for companies. While the next generations are very well educated, for the moment they lack the wisdom and seasoning that many years of on-the-job training bring. As the number of Gen-Xers and Millennials in the workplace rises, companies are going to have to shift how they think about business and culture, and adapt to finding ways to enable the younger, less experienced workers to grow into effective and valuable corporate leaders.
It is gratifying to have the chance to spread the word about this issue, which, while on the radar of many CEOs, is not being talked about enough.