Brain Drain to impact corporate culture

 As Boomers retire or are downsized they take a wealth
 knowledge with them.

Many people underestimate the potentially catastrophic impact of “Brain Drain”. The Pentagon is now dealing with the problem on a very serious scale. They need to refurbish America’s arsenal of Trident nuclear warheads, but Washington has a problem.

In the 25 years since the warheads were first armed it seems the original personnel, which did not take the time to document the process, has retired or died. Now the National Nuclear Security Administration is spending millions of dollars trying to recreate the procedure.

According to U Express, others are experiencing similar problems. In Germany over three hundred top secret files have been lost. The files are so secret the German company does not even know what is in them!

Brain Drain occurs when experienced employees retire or are downsized. The aging Baby Boomer generation is on the brink of retirement and surveys taken two years ago and prior showed the boomers were anxious to retire or shift from full to part-time employment.

However more recent surveys have shown a shift in opinion. With falling property values and an economic crisis the desire to retire is being trumped by financial woes. Surveys now indicate Baby Boomers have temporarily deferred their retirements until the economy recovers. Once they see recovery has ended, a record exodus of experience will leave the workplace -- creating a significant brain drain.

Business must be prepared to fill the leadership positions and develop succession plans for vital information. Otherwise, like the German government and the National Nuclear Security Administration, crucial knowledge will be lost forever.