BusinessWeek covers a best practice in a topic of growing importance: how large companies can retain older workers in productive ways beyond a set arbitrary retirement age.
Issue: Retiring Employees, Lost Knowledge (Business Week)
A pilot program at American Express gives soon-to-be retirees less work and more time to pass along their expertise to younger generations
- “Before long, the group made an important discovery: Not only would a huge number of employees become eligible for retirement in the next five to 10 years, the company had done little to retain the wealth of institutional knowledge they would be taking with them. From the intricacies of key client relationships to mainframe computer languages no longer being taught in school, many experienced workers possessed critical know-how that, if lost, would be costly—if not impossible—for the company to replace.”
- “These parameters helped shape the American Express phased-retirement program, an initiative launched in pilot mode during [Read more…] about Retain older workers beyond retirement