The U.S. Postal Service’s workforce demographics add an extra layer of challenges to an organization that already has plenty. We recently blogged about the Postal Service’s brain drain – the loss of institutional knowledge due to a large number of workers retiring. This week we look at the additional challenge of creating a robust corporate succession plan when nearly half of the Postal Service’s executives will be eligible to retire by 2015.
When long-term, experienced workers leave companies, they take their know-how with them. It’s called “brain drain” and it happens at organizations of all sizes and kinds, most notably companies with a large number of baby boomers getting ready to retire and industries that are restructuring. The newspaper industry comes to mind, as does manufacturing, as does the U.S. Postal Service.