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WTSA’s 98th ANNUAL MEETING
2011 Annual Meeting in Beautiful Setting
June 26, 27, 28 at Seascape Beach Resort, Monterey Bay
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The 98th Annual Convention of Western Textile Services Association (WTSA) was
attended by over 100 paid conferees – plus their spouses! They heard from five
speakers on various subjects – most important of which was “Passing the Torch: 5
Steps for Turning the Baby Boomer Brain Drain into a Brain Trust”! The audience
also heard about what great leaps forward Sprint is going to make; how
communications are going to be “bundled” – What Textile Rental Services
Association can do for our membership and how Prescription Drugs are going to
impact all of our lives.
But most important – What are you doing about YOUR retirement? Think about it!
In ten (10) years most of us will be gone – who is going to take our place?
Where do we find people qualified to run our business?
Questions to ask:
How many of your employees will become eligible to retire?
How many of your senior leaders will become eligible to retire?
How many skilled technical workers will become eligible to retire?
How many front-line managers will become eligible to retire?
Do you have a succession plan in place for key positions that are most at risk?
Refine Your Retention Strategy. “Keeping senior workers in the labor force a
little longer will provide more time to transfer knowledge.” But Baby Boomers
want flexibility! So look to rewarding them with: long-term care insurance,
pre-retirement planning, health and wellness programs, comprehensive medical
coverage, health coverage for retirees and pro-rated benefits for employees on
flexible work schedules.
Employees have pushed back retirement an average of nine years because of the
recession, which ravaged 401(k) accounts and caused home values to plummet. Talk
to those who represent the greatest retirement risk about their unique value to
your organization. Find out what knowledge they feel is most critical – explore
how they might contribute to the development of future leaders.
Create Knowledge Transfer Opportunities: Coaching and mentoring programs provide
an effective way to transfer knowledge and skills-as well as the wisdom gained
from years of experience. Coaches and mentors can share valuable information on
a one-on-one basis, sharing personal insights and professional advice that lead
to greater individual and organizational success.
Like mentoring and coaching programs pairing older, more experienced workers
with emerging leaders can greatly facilitate both the transfer of knowledge and
the development of future leaders. Mother used to say, “A word to the wise!” |
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Millennial Generation Presentation
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TRSA Presentation
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