Kormac Insights
January 19, 2023
NYT: Another Big Boomer Effect
"Boomers are (finally) retiring. That could reshape the economy for decades."
As home value appreciation and pandemic risk prompt more seniors to permanently exit the labor market, companies are facing an experiential “brain drain.” Many teams rely on informal knowledge and know-how trapped in the heads of tenured employees. When we analyze organizations, we often find huge gaps between processes as they’re documented and how work gets done. With retirements accelerating, we’re helping our clients to close those gaps before the collective experience of Boomers departs with them.
https://www.nytimes.com/2023/01/11/briefing/labor-shortage.html