Experienced Employee Retention

Trend Definition 

What is the essence of this trend? What is its impact? 

• Essence: The core element of these programs is the retention of seasoned employees, including older employees, to address talent shortages
• Impact: It ensures continuity of business expertise, preserves critical expertise, and adapts business practices to cater more complex needs of employees

Trend Drivers 

Why is this trend emerging now? What’s changing? 

• Demographic Shifts: Since seasoned leaders, especially “Baby Boomers” slowly approach their retirement age, companies face a significant loss of invaluable 'tribal knowledge’
• Onboarding: New employees benefit massively from the knowledge of more experienced colleagues which helps them to quickly navigate in the unknown environment
• Changing Working Preferences: Many senior professionals seek flexible work arrangements, such as part-time roles or advisory allowing them to contribute without the demands of a full-time job

Use Cases 

How to apply this trend? 

• Keep Employees Onboard when Introducing New Technology: Introducing technology to maintain employees
  Example: DHL Supply Chain observed that the introduction of systematic data usage or smart operations, which also boost productivity, increased the employees’ satisfaction and retention since they enjoy the environment they’re working in as DHL found out through their systematic monitoring 

Procurement Relevance & Response Strategies 

How should Procurement adapt its Processes, Organisation, and Strategy?

• Integrate Flexibility in Workforce Management: Develop hybrid and part-time work models tailored to senior professionals, balancing remote and on-site work
• Establish Mentorship and Knowledge Transfer Programs: Create structured mentorship programs where senior procurement professionals mentor young colleagues to transfer their knowledge to the next generation of leaders