Backup Plans: How to Preserve Institutional Knowledge as Employees Depart

The Great Resignation and Silver Tsunami have received a lot of recent attention as two workforce trends making a significant impact on organizations. With the workforce rapidly graying, some employment experts are saying we are in the midst of the “Great Retirement.” According to the Pew Research Center, the rate of retirement for Baby Boomers has accelerated since COVID-19 began. Nearly 29 million people from this generation retired in 2020—three million more than in 2019—and a total of 75 million will retire by 2030.