Relinquishing the Power a Generation Y Perspective

The 35-40 year age differential between the Baby Boomers and Generation Y has recreated a void in the work place of middle level employees who are capable to fill more executive type positions. Joined with the Baby Boomer need to retain authority and superiority, Generation Y is not equipped to fill the roles and responsibilities left in the wake of a retiring workforce.Currently, MSD has over six hundred employees, of that total; one hundred twenty are of retirement age. Based on internal surveys, mature employees withhold information/training and refrain from mentoring the younger employees to maintain and ensure job security.From this work disparity, we have developed a program that allows the more seasoned employees to relinquish the power and retain job security until the time of retirement. The program will allow highly capable candidates with substantial learning opportunities from their senior supervisors.Succession planning is having a systematic approach for managers, along with the help of senior staff members, to recognize, evaluate and mentor their staff so that they are prepared to assume critical positions within the company as these opportunities arise. Cross training is valuable tool that will allow flexibility within the company structure in the event that there is no one prepared to fill the position on a permanent basis. Having a plan is vital for the success of a company, and without a standard practice set in place; this can greatly affect the company’s future.Developing a plan that begins with the evaluation of an employee’s retirement eligibility 3-5 years prior to their planned exodus provides an opportunity for the company to determine:a. Is this position essential to the companyb. If the position is still, can it be itemized and tasks spread amongst other employeesc. If the position will require a full time commitment, training can ensue to allow the successor to begin working in such a capacityAlthough a succession plan directly addresses the need resulting from an aging workforce, it does not ensure continued growth and betterment of the company. Therefore is imperative to begin engaging the interest of the youth via:a. Programs that provide exposure to high school students in the fields of math, science, engineering and technologyb. College internships/co-ops that will continue to foster the theoretical information gained in the classroomc. Entry-level positions that provides work opportunity for the applicants who have completed the aforementioned items “a” and “b”.This phase of the plan is an integral part of securing new candidates for the future workforce and continually minimizing the gap. As a result of the student’s exposure to these opportunities, they return as college interns and finally as full time employees who have learned the methods and procedures and are ready to make a viable impact immediately.This process will, in time close the disparaging gap between the different levels in the workforce.