Recent studies that span industries from aerospace to heavy industrial manufacturing reveal one common, and more than slightly disconcerting statistic, a large number of baby boomers that comprise the current engineering and other highly skilled positions in the overall work force, are expected to retire during the next five to seven years. The impact of this mass exodus of talent and experience has the potential to reduce the overall ranks of professionals with deep industry knowledge by approximately 25 percent. In some companies, the percentage of the professional work force that is eligible for retirement today is expected to double over the next five years. In a nutshell it’s called “brain drain” and chances are your company will in some way suffer the side effects of it unless you start now to engage the next generation of talent.
What can you do to proactively reduce this impact? Recruit now and make sure your company knows how to attract the relatively small group of candidates that will be courted by the industry leaders large and small. Here’s one key to a successful plan. Show them your company culture in action and make them want to be part of your team. In a Facebook “Live”, YouTube and Vimeo world if your company does not leverage video to attract candidates you’ll essentially be eclipsed by others who are gathering up the talent right out from under you.
Talk to the human resources and other recruiting professionals in your organization and see what needs they are forecasting in the short and long term and let us help you leverage video to get a jump on it now. A well-produced overall positioning piece that can reside on your company website, be repurposed for trade shows, and be parsed up into web-sized vignettes to post on Facebook and other forms of social media is one investment that can be used multiple ways, and reap multiple benefits.
Let us know how we can help curb the brain drain in your organization, and in the mean time, talk to you next Friday.