How Accurate are Your Retirement Projections?

Many organizations are struggling with the multiple impacts of the economic downturn on business continuity.  Part of that continuity is our capacity to effectively project our workforce needs within the next 3, 5 and 10 years and this is an area that has many impacts due to the recessionary climate. Canada's economic outlook is good, however statistics are emerging on various demographic groups who have decided to delay their retirement.  Given the compounded issues regarding the health industry in the US, this tendency to delay retirement is predicted to be even more dramatic than in Canada. Media outlets are actively promoting this trend. 

A key question for those of us entrusted with creating as accurate as possible projections of natural attrition is: if the models used for these projections are pre-2009, are they still viable?  Both projection and psychological models for retirement potential are being revised, which is good news for us.   Key drivers for this decision such as pensions, RRSP and 401k plans are under constant change  as are legislative changes such as the removal of the mandatory retirement age. 

The impact on retirement projection changes have a huge HR system-wide effect in terms of the fluidity of people and how to transfer skills and innovation in organizations.  Clarifying and updating who will be leaving and when, based on the emerging data, is a critical starting point in industries with aging workforces who have yet to translate these changing factors into their retirement projections.

Kick Off Sept 13th 2011

Welcome! 

Today begins a new experience for me and hopefully a new source of information and collaboration for you. 


Like many of you, I spend an inordinate amount of time scanning the internet for practices, policies, principles and emerging trends on the subject of Human Resources Management and Organizational Development.  It is a pretty daunting task... trying to find the diamonds amongst the gravel.  But when I come across information that is well framed for the needs of practicing HR/OD professionals, I want to capture this info in more of a dynamic warehouse fashion.  One that can continually grow and become consistently more beneficial over time as it improves.  And so a Blog seems like a natural choice.  Not just for the sharing of these tools, ideas and emerging issues... but to create a opportunity for those interested to share, comment or debate the changes in our profession and how these changes drive our increased need for current accurate information.


Part of the success that I hope to achieve with this Blog is the creation of a library of web content specific to key areas of the profession.  Information which is tagged for easy reference in general subject areas, and allows for the participation of fellow HR/OD practitioners to add context through their appraisal, experience or comments regarding the posted materials.


If you are interested in seeing how this shared library and evaluative process can help you, I invite you to follow and sign up. Specifically, this blog will have a large share of user specific requests so send a message about the type of subject matter areas you are interested in or anticipate needing substantial information in the near future.


In terms of process for this Blog, it is not my intention for this site to be an advertising vehicle so all postings will be sourced effectively to ensure that you can vet all materials for credibility and reliability.  Materials will be drawn from larger entities, both profit and non-profit, who have established professional credibility in their areas of expertise.  And again, the capacity for participants to comment and challenge sources will be very valuable in terms of continuously improving content and fine tuning applicable sources.


Again,  for those who choose to join I wish you a big welcome and look forward to your insights, comments and debates.  I will be posting every day beginning Sept 14th 2011 and... as every mountain climber says...  
 "onward and upwards!!!"