The 'Silver Tsunami' beckons. As agining employees at the company reach their termination dates, this study aims to inform the company about what departments of the company they can address to keep enrollment at a reasonable level. We also suggest a population that would fit mentor criteria to further the performance and employee retention of the company.
Several key results can be seen from this data analysis.
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Over 1,500 potential mentors exist in the company based on birthdates and current employment status. We suggest creating a mentorship program and actively seeking to recruit these employees to serve as part-time mentors, perhaps even building the role into certain teams and departments.
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Many, many employees will retire -- over 70,000 of them, to be precise.
Turnover is normal, and retirement is inevitable; however, the company can be proactive to categorize these likely retirees by department and actively recruit to fill the roles.
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Given the anticipated chasms in the Senior Engineer and other 'Senior Staff' positions, these roles will be particularly important to fill. We also suggest breaking out the Staff role by region/office location so that all facilities can continue to run properly.
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The soon-to-retire Managers are limited to just two people. That said, the company has a fantastic infrastructure to continue leading new teams.
To summarize, this data may inform future growth opportunities at PyBer. The following points were noted for decision-makers:
- How many roles will need to be filled in the so-called 'Silver Tsunami'? The exact count of projected retirees is 72,458 employees. Does that mean that retention is a null-sum game and we must on-board 72,458 employees? Not necessarily. We must consider timeline and the future of the company. Perhaps certain areas of the company will require less employees (e.g., the Technique Leader role may be ousted to a virtual seminar).
We can take this logic a step further into the department divisions. The following query
shows that 24 department managers exist across nine departments, whereas only 2 are retiring. Does the company plan to add departments? (Removing departments may be less likely) If so, how will the Sales teams be structured? Will the software teams need less individuals, and more outbound sales representatives? Perhaps for every three retiring engineers, one new engineer and one new salesperson must join the team. These decisions must fit into the OKRs of the company.
- Are there enough qualified, retirement-ready employees in the departments to mentor the next generation of Pewlett Hackard employees? This is a question that the company must consider deeply, especially what is considered 'qualified.' Further, the company must consider what goals they wish to achieve by the act of 'mentorship' -- does this mean weekly 1-on-1's, monthly professional reviews, additional technical assistance and review, or all of the above? By using the following query
we see that about 10,000 employees have joined the company since 2010. Some might say that after only two years you can become a mentor. That said, the other 20,000+ employees would likely meet the criteria to become effective mentors.