TRANSITIONING CHALLENGE: KNOWLEDGE TRANSFER

The MetLife Mature Market Institute in collaboration with David Delong & Associates conducted a study in the first half of 2007 resulting in "Searching for the Silver Bullet: Leading Edge Solutions for Leveraging an Aging Workforce." While many more were interviewed, the study has in-depth case studies of four companies that have implemented successful programs to address changing demographics. They are: Boston Scientific, First Horizon Corporation, The Aerospace Corporation and Weyerhauser.

The study provides insights for HR managers on helping older workers successfully transfer their knowledge, implementing effective flexible work arrangements, and devising creative solutions for rehiring retirees. It points out that though companies are searching for a silver bullet or one-size-fits-all solutions, there are none. Sandra Timmermann, EdD., director of the MetLife Mature Market Institute, said that "What's needed is a portfolio of strategies and solutions that balance the need to retain older workers while also transferring knowledge to younger workers, so that business performance can be sustained."

The study provides valuable lessons on how to create effective knowledge sharing relationships between older mentors and younger workers and the need to make knowledge transfer an explicit part of any job when rehiring a retiree.

It seems to follow that a corollary would be training and coaching to prepare new partners and executives.