Keeping Talent on Tap

Organizations routinely wave farewell to their retirees. In doing so, they watch as a sizable corps of talent departs.

That practice is too dumb for words.

Obviously there are many people who cannot wait to head off to retirement and who will never be seduced into further service. They long for the golf course, the early bird specials, and the intensive care units - just kidding! - and the idea of putting on the old harness is far from appealing.

Many others, however, want to keep a hand in the game. They have been intellectually vigorous and wish to remain so. They've taken pride in their professional achievements and don't want to see those erased through neglect, blundering, or a simple failure to know the ropes.

That second group is a good argument for creating a retirement program that establishes a formal channel between the organization and its retirees. Participants will continue to receive company newsletters as well as special updates on their areas of specialization. They will be eligible for additional training and can be brought back for meetings, brainstorming sessions, and special projects. They may even be called back to work when staffing is lean or emergencies arise. The Retiree Corps/Alumni Group will form a strategic reserve for the organization. Its direct benefits are clear and yet its indirect benefits may be even greater as younger nonretirees see how people are valued and talent is honored.

I recall meeting with a Silicon Valley executive several years ago. He groaned over the price his company had paid for its lack of institutional memory. There were sections and departments where no one had been on board for more than six years and they were repeating mistakes. Projects that should have been avoided were launched and ones that deserved more time to succeed were dropped. They were in sore need of some scarred veterans who knew the trails.

One session with some former employees and retirees could have made a huge difference but that option was never even considered. For such a young and dynamic group, they were blinded by tradition.

And that is one of the odd characteristics of reaching out to the retirees: it is not a predictable and cautious approach. The old can be the ally of the new.