Avoiding the ‘Brain Drain’—Lessons in Succession Planning

In 2007, the biggest human resources dilemma of 2008 was going to be how to survive as the first of 78 million baby boomers started to retire en masse. There was going to be a flood of institutional knowledge flowing out of companies across the country, and increasingly fewer qualified workers to replace them. But then, housing values plummeted, credit markets melted and the nest eggs that were going to take retirees into their golden years, shriveled up. Retirement had to be postponed.
 
For TRSA members who depend on their most seasoned employees to keep the day-to-day ...

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