on Organizations, Third Agers and Retirement
James H. Krefft, Ph.D
ongoing series exploring the kinds of large-scale changes organizations
will have to make to survive the never-before-seen, across-the-board
discontinuity that will be caused by the crush of Boomer retirements in
the next 5-15 years. Organizations that put in place a comprehensive continuity
plan for making these gut-wrenching transformations will survive, even
thrive. The rest will rot
Even professionals whom
we might not at first glance associate with formal organizations, such
as physicians, attorneys, or CPAs with private practices, typically have
close personal and economic ties to formal organizations: physicians
partner with pharmaceutical companies, laboratories, and hospitals;
attorneys collaborate with clients, government agencies, and court
systems; CPAs work with clients, tax agencies, and nonprofit
If hospitals run short of nurses
or get into financial trouble, the healing effectiveness, and income, of
its partner physicians is threatened.
If a court system becomes backlogged and dysfunctional, the legal
effectiveness, and fees, of defense attorneys is at risk.
If client companies get into financial trouble, a CPA’s
livelihood is in peril.
In the Second Age, most of us gave to
and took from, perhaps still give to and take from, one or more formal
organizations. Are Third Agers better off with organizations or without
them? And, are
organizations better off with or without Third Agers?
connections with formal organizations can continue to the mutual benefit
of both Third Agers and organizations.
But the relationship has to change, on the part of both parties.
Just as individuals can benefit from redefining retirement, so
too can organizations profit from rethinking how they use retirement
programs as a business management tool.
pertinent for organizations, any organization that does not redefine
retirement will be facing intensified threats to its own survival, some
as early as in the next 5 years. That
sound you hear is the discontinuity grizzly crashing through the
underbrush in your direction. Do
you know what to do when it starts slashing at your tent?
should take an interest in this question:
How should organizations redefine retirement? And, why?
May, we’ll start with “the why” in Part 2 of this series:
“A Perfect Drought.”
2004 James H. Krefft, Ph.D. and The Center for Third Age Leadership, LLC
Krefft is an author, consultant and President of The Center for
Third Age Leadership.