Why New Horizons?
Statistics about the retiring baby boomer generation and its effects on the future workforce abound. The baby boomer generation is so vast that it is believed that developed countries will have trouble competing with emerging economies without contributions from older workers. It's estimated that 10,000 baby boomers are turning 60 every day and the reality is, many of the seasoned employees are taking their extensive knowledge and experience with them as they leave. Some companies are finding that younger employees lack the numbers and education needed to replace retiring individuals. A knowledge transfer is needed to bridge the skills gap that is appearing between the technologically driven millennial generation and older employees.
The concept of retiring has changed. According to the Harvard Business Review and research performed in 2011, some 31 million people ages 44 to 70 want encore careers that allow them to earn a living and give them meaning. Retirees today are blessed with a longer life, but this may also mean that they will outlive their money if not fully prepared. Succession planning for retirement can offer employees the chance to continue to earn a living, while maintaining the knowledge transfer a company needs to remain profitable.
Succession planning with New Horizons offers your employee an opportunity to purposefully plan their retirement while giving the employer peace of mind that they too are establishing a planned exit strategy for their talented employees.