The impact. Baby boomers in the mid-life of their careers, those born between 1946 and 1964, now make up half of the United States workforce. The numbers are staggering; if we consider that there are 76 million people in this category. According to the internet site that tracks baby boomer statistics and trends, Baby boomer headquarters, www.bbhq.com, a baby boomer turns 50 every 8.5 seconds in the U.S. The implications are astounding on many levels, and they have an especially strong impact on the health of our companies.

The situation. My experience consulting and coaching executives in organizations is that individuals are looking for more. More responsibility, more money, more challenging work, more participation at the senior table, more satisfaction, more life and work balance, and a more interesting future. Individuals are re-evaluating themselves and their relationship to their jobs/work. They are asking themselves, “do I want to work less,” or “do something different altogether,” with the common thread being: “I’m frustrated and not all that satisfied.”

1. Introduce a new interesting and challenging assignment. New assignments can feel like a whole new start, and new starts keep individuals engaged and excited about their work. New assignments, especially ones with visibility and potential impact, take the focus away from the career bottleneck syndrome which occurs to many individuals in their forties and fifties.
2. Engage in sincere conversation with your employees. Ask the people that work for you at least once a year, what would make work more satisfying for them, and how could you be of assistance? Just showing interest is sometimes sufficient, although really understanding what motivates and makes each person happy, is critical for leadership excellence. Don’t assume your people are happy and satisfied, usually they’re not, and they think it’s career limiting to discuss it, so you will have to dig and probe to find the truth.
3. Look for satisfaction outside of work. Encourage your employees to get involved in something they love outside the office. Having something meaningful outside of work helps balance the pressures and frustrations inside the office. I have executive clients who have introduced fun into their lives and are having a ball. The range of activities they participate in include playing basketball with the boys once a week, creating cooking masterpieces for friends on weekends, playing guitar, singing in a choir and taking voice lessons, teaching at a college, and working out with a physical trainer.
4. Don’t forget succession planning. It’s critical to have 2 or 3 employees you are grooming to be your successor. Mentor, coach, and develop them consistently, so they will be positioned to either take over for you when you make your next move, or relieve you of some responsibilities so that you can take on new ones. When asked what Microsoft’s core competency is, they don’t say a thing about software. They say human capital. The best companies understand that they desperately need talent.
5. Hire college graduates. According to the Bureau of Labor Statistics, we can anticipate a shortage of 10 Million in the skilled labor market by 2010. With the impending labor shortage, it’s prudent to start to hire and train young talent now.