Glen Curole, CBCP, CPM

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Category 5 Services
Welcome to
Surviving the Baby Boomer Tsunami

• Glen Curole, CBCP, CPM
• President
• Category 5 Services
• 918-344-8897

July, 2009
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Agenda

• Introduction Expectations
• Who are the Boomers
• Case study
• Recommendations

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Introductions

• An expert is a person who has made all the
  mistakes that can be made in a very narrow
  field.
• Neils Bohr

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Expectations

• Purpose of this session is to
• Learn how the retirement of baby boomers can
  adversely impact your companys future.
• Examine how to gather data and assess the risk.
• Discuss strategies to retain them.

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Agenda

• Introduction Expectations
• Who are the Boomers
• Case study
• Recommendations

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Where Do the Boomers Fit In?

• Silent Generation 1925 - 1945
• Baby Boomers 1946 - 1965
• Generation X 1966 - 1981
• Millennials 1982 - 1999

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Who are the boomers?

• Those born between 1946 1965
• Political boomers
• George Bush
• Bill Clinton
• Al Gore
• Prince Charles
• Vladimir Putin
• Tony Blair
• Barak Obama

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Famous Boomers

• Steven Spielberg
• Sylvester Stallone
• David Bowie
• Elton John
• Billy Joel
• Jay Leno
• Jerry Seinfeld
• Oprah Winfrey
• John Travolta

• Denzel Washington
• Bruce Willis
• Steve Jobs
• Bill Gates
• Bruce Springsteen
• Robin Williams
• Tom Hanks
• Spike Lee
• George Clooney

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Boomer 1

• Kathleen Casey-Kirschling
• Generally recognized as the nation's first boomer
  
• Born in Philadelphia
• Jan. 1, 1946 at 120001 a.m.

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Birth Fertility Rates 19402006
Demographic Trends in the US by Ben Wattenberg,
9/17/07
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Other Facts

• 78.2 million boomers born
• 7,900 turn 60 each day
• Most popular names James Mary
• Cases of baby food sold in
• 1941 2.7 million
• 1947 15 million
• 57.8 million boomers alive in 2030
• 2.1 workers for each retiree in 2031

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Bureau of Labor Statistics
August 31, 2000
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Impact on states

• 47 of Tennessee state government employees will
  be eligible for retirement in 5 years and the
  state doesnt have a plan to fill those
  positions.
• Memphis Commercial Appeal 1/31/05

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Impact on federal government
Sixty percent of the governments 1.6 million
white-collar employees and 90 percent of about
6,000 federal executives will be eligible for
retirement over the next 10 years, - OPM
director Linda Springer February, 2006
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Impact on business

• 2/3 of companies surveyed expect boomer
  retirements to have a measurable impact on their
  organizations.
• 6 Severe talent shortage
• 18 Big Impact
• 40 Moderate Impact
• 32 Minor Impact
• 4 No Impact
• 3/4 have not yet started planning to deal with
  this issue.
• ClearRock 10/23/06

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Agenda

• Introduction Expectations
• Who are the Boomers
• Case study
• Recommendations

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Step 1
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Step 2
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Step 3
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Step 4
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Ranked by total in department
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Ranked by to be replaced
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Ranked by to be replaced
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Ranked by to be replaced
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Potential to be replaced
15
8
20
12
4
10
10
4
5
2
4
4
4
4
2
4
100 80 75 55 55 50 50 50
50 47 45 42 30 30 20 20
of people to be replaced
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Retention Strategies

• 79 Flexible hours schedules
• 67 Part-time positions
• 53 Telecommuting
• 18 Have boomers mentor
• 5 Stay bonuses
• 5 Enhance pension formulas

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Agenda

• Introduction Expectations
• Who are the Boomers
• Case study
• Recommendations

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Recommendations

• Gather the data
• Assess the risks
• Discuss the implications
• Query retirees for plans
• Develop retention strategies
• Track retirements
• Add to Key Results Area (KRAs)
• Add to quarterly executive agenda

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Wrap up

• While the stakes are high and the issues
  complex, those companies that think through the
  data, come up with the right questions and craft
  a long term comprehensive strategy not only will
  survive this historic wave, but will also have
  the potential to ride its crest.
• James LAllier Kenneth Kolosh in
  Preparing for Baby
  Boomer Retirement

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Questions?
Thank you! Glen Curole, CBCP, CPM President,
Category 5 Services 918 - 344 - 8897