Baby boomers are perceived as more expensive - yes if you just have the $$ filter on!

In the current economy, it is not so easy to predict what will happen next.   One thing is sure though, in a weak economy, companies will look at cutting costs and will use the situation to take a hard look at their resources and related costs. Baby boomers can become more vulnerable because more experienced associates tend to command higher salaries. So theoretically, a company looking at the bottom line may conclude that the best thing to do is cut the most expensive employees (C class excluded of course).

We all know the discussion - great guy but can he respond well to change or can he learn the 'new way'? How long more will she stay - she is a very keen golfer. He is so 'yesterday' always comments on new ideas with 'yes but'.... and they all cost so much - I could hire 2 youngsters for that salary.

 If you remove the $$$ filter, the experience, network and ability to call a spade a spade, i.e. the value that these associates bring, is considerable. Secondly has anyone asked the person in question - they may be avid golfers but may value working more or not really  be excited about staying at home full time just yet!

From the associates side - not always a bad thing to be downsized.  Gives you the opportunity to follow that dream that you always wanted to follow.  While an experienced and well connected 50+ tax consultant may be on the company hit list, clients of her new private company would probably be delighted to have such an experienced and well connected person!  And this gives her the opportunity to set up that exclusive catering service she has always wanted to do - on her terms and boy will those years of experience in finance help her. Get your life back in time and on your conditions!

So what do the companies and the associate need to do? How about TALK - discuss options such as reducing from 100% to 80% or even 60%, a sort of easing into retirement.  Consider assigning the baby boomers to key projects as senior coaches, the experience will be valuable.  Remove the perceived hurdles by ensuring that communication is clear around the value these associates have to offer so that projects and younger leaders consider them the latest 'must have' and once there will quickly understand the value.

It is clear that the Gen Yers will bring a fresh view and different skills but the underlying danger is group thinking from business school without experience.  That same risk is present with just baby boomers in the form of yesterday thinking - so out with the cocktail mixer and get the best of both  - bring them together and allow them to collaborate.