PricewaterhouseCoopers (PwC) will present findings at the CoreNet Global Atlanta Summit this month on how it is using a new space configuration to transfer knowledge from a gradually retiring older workforce to the newer members of the firm who will replace them.
PwC will discuss how, working with Steelcase Workplace Consultants, it began halting the "brain drain" brought on by the effect of a huge rate of retirements. PwC and Steelcase created "mentor pods" in their Dublin, Ireland office, which facilitated the knowledge transfer from older to younger workers. Creation of the mentor pods became necessary because in Dublin, 62% of its workers are under 40, and a mere 14% is over 40.
"PwC and Steelcase were selected to present their findings because, across the board, CoreNet Global members are scrambling to retain the irreplaceable institutional knowledge many corporate real estate executives are taking into retirement," says Dr. Prentice Knight, CEO of CoreNet Global.
Dr. Knight added that, "organizations must consider not only how to retain critical knowledge, but where the Baby Boomers and Gen Y workers can share information. It's crucial for their future."
Donal O'Connor, from PwC's Dublin office will present their findings at the Atlanta Convention Center on October 30th at 10:00 a.m. PwC's efforts are underscored by US Bureau of Labor and Statistics estimates that between 2002 and 2012 the number of US workers 55 and older will grow by 50%. As Boomers and Traditionals (those born before 1946) prepare to retire, many organizations are facing a brain drain of epic proportions.
While at the Atlanta Summit, attendees can choose from among a wide variety of educational sessions, ranging from human resources related sessions to those on cutting edge workplace strategies (www.corenetglobal.org/atlanta).