Wait – the title of this article must be wrong! Each day we are bombarded with reports on the unemployment outlook in the United States and around the world that indicate the contrary. Surely this title is backwards. However, in the government sector the scenario is quite the opposite. Consider the following statistics:
- Retirement claims at the Federal level have risen from 95,000 in 2009 to 113,000 in 2012.
- A 2012 Federal employee survey indicates that 24% of respondents intend to retire in 5 years.
This situation creates many challenges some of which are as follows:
- Hiring and retention of younger workers.
- Identifying and developing non-monetary incentives which are important to younger workers.
- Development of future leaders.
- Transfer of knowledge from retiring leaders to future leaders.
Obviously, there are no easy solutions to this dilemma. The challenges raised by budgetary pressures and retirement require creative thinking. Government leaders are encouraged to respond with a comprehensive talent approach that addresses the looming skills gap, identifies and develops future leaders and facilitates the transfer of knowledge from retiring to future leaders.
© 2014 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.
This advice is not intended or written to be used for, and it cannot be used for, the purpose of avoiding any federal tax penalties that may be imposed, or for promoting, marketing or recommending to another person, any tax related matter.