Success in the game of business depends on understanding today’s big problems and implementing effective solutions. The companies who develop and implement the best solutions will win. Two unprecedented events in history are coming together to create a turbulence that will shake traditional management roles and corporate structure. The two events are – a forecasted shortage of 10 million skilled workers by the year 2010 and, the reality of four unique generations in the workplace at the same time. The workforce shortage will primarily be a result of Baby Boomers (born 1946 -1964) retiring and too few Generation Xers (born 1965 -1976) to replace them. These two events are already underway. How will they affect your organization as the economy strengthens? Have you evaluated your vulnerability? Is your organization proactively dealing with these issues?

     In the book Impending Crisis, the authors believe only 5% of companies have prepared to face the issue of workforce shortages. Though the issue of recruitment and retention is getting more attention, the solution doesn’t stop there. Your organization must also be engaging all its employees. A 2001 Gallop Survey reported that only 26% of employees are engaged in their work. One of the greatest challenges will come from understanding and successfully working with the different values, expectations, communication styles, and motivators among the four generations. The ability to fully engage employees will be a characteristic of organizations that are satisfying their customers, remaining competitive, retaining talent, and profitably growing in an environment in which skilled workers are in short supply.