In this four-part article, we intend to come face-to-face with one of the most talked about threats to our industry on the horizon—what some are calling the Silver Tsunami. We’ve all been warned about what our workforce will look like in the wake of the Boomers’ departure. Some are making careers out of the prediction that this dramatic “mass exodus†will change how recruiting is done and intensify the battle for the top talent among Gen X, Gen Y, and Millennials.
In order to get a less-biased idea of what we are facing, we put together a panel of professionals and asked them their thoughts on this subject. This panel is composed of a CEO of a recruitment process supplement company, a highly qualified Boomer and former job seeker, an HR Director for a content management company, and an HR Manager of Talent Development at a major multinational IT staffing company.
Perhaps the light that they shed on this subject will break through the clouds of confusion surrounding the matter and hopefully, offer us some insight on how to engage with candidates, hiring managers, HR leaders, and others influenced by this potential phenomenon.
As recruiters, we are measured against time to fill. In this climate, while our clients are trying to schedule third and fourth interviews with our candidates, they will be somewhere else signing an offer letter.
Whether the proverbial sky is falling or not, we still have to consider our response to the concerns of all of our clients. Do we start strategizing now or do we wait and hope that this foretold “Perfect Storm†turns out to be just another Y2K?
In part 1 of our series, we chat with Richard Atkind, an HR Manager, Resource Development at TAC Worldwide and the 90th most-connected person on LinkedIn. He shares his thoughts on the “phenomenon†below:
Do you believe that this “Silver Tsunami†will bring all of the challenges that are predicted?
RA: The effect of the “Silver Tsunami†isn’t new. It’s been in place since the Y2K period. Look at all the startups that, despite huge amounts of capital, failed due to a lack of seasoned leadership and a seasoned, disciplined workforce. Additional challenges now exist due to the numerous corporate layoffs resulting in a total lack of company-to-employee loyalty and therefore, the existing lack of employee-to-company loyalty.
When you combine these factors, recruiting top talent has become extremely difficult and competitive in what I call a free-agent market. Clients will have to be more reliant on outside recruiters as they keep their infrastructures lean. The challenges already exist.
Welcome to The Fordyce Letter:
If you look at my resume, you will find a career path that makes no logical sense. You may ask, “How does one fit being a satellite communications tech, an intelligence analyst, a car salesman, and a third party recruiter into one career? Is he confused? Is he a job-hopper? What’s his deal? Add to the mix that I am now in the seminary to be a minister and you may really begin to think someone spiked my punch. But if you get to know me, it all begins to make sense when I tell you that in my work-life I found consistency in my love for people and my search for good work. The Tao of Work is my philosophy on the difference between work and a job. Please read it with mindfulness. And remember that it is not what we do that makes the greatest impression on the lives of others, but the purpose and meaning that we give to what we do.
