70: The New 50

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9780976151432: 70: The New 50

70: The New 50 is about retirement management an answer to the challenge of the impending baby boomer exodus from the workplace. For years, organizations have been concerned about succession management and retention management, but few have tried to encourage select retirement-age employees to stay longer. Most companies viewed such a practice as a waste of time because of the strong economic incentive to retire provided by conventional defined benefit plans. But that viewpoint has changed for most of the organizations that don t have defined benefit plans, and it s changing quickly for many of those that do. Government rules regarding defined benefit plans changed in 2006 to encourage people to work longer and they will, because they need the money and because the enjoy the camaraderie and challenge of their work. Retirement management is not about talking people out of retiring or starting their own business. It is about giving the large number of potential retirees who would like to continue contributing to their present organization s success the opportunity and the accommodations to do so. And, it s about organizations growing more successful through better utilization of their seasoned talent. Retirement management is not only a highly workable strategy; it s also a competitive necessity for organizations that want to retain the knowledge, experience, and key contacts provided by their valued older employees.

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About the Author:

Bill Byham is a best-selling author, speaker, and industry expert on management issues, including empowerment, succession, retention, and hiring. He wrote Zap!® The Lightning of Empowerment, which has sold more than 4.5 million copies, and coauthored Grow Your Own Leaders, a guide to identifying and developing future organizational leaders. In Grow Your Own Leaders, Dr. Byham recommended that organizations attempt to keep key retirees long enough to develop and prepare their backups. In 70: The New 50, he provides a strategy for accomplishing that. Dr. Byham is the Chairman and CEO of Development Dimensions International, Inc. (DDI), a global human resource consulting firm, which he cofounded in 1970 and which has grown to include 75 offices in 26 countries.

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William C. Byham Ph.D.
Published by DDI Press (2007)
ISBN 10: 097615143X ISBN 13: 9780976151432
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William C. Byham Ph.D.
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