How to protect your ROIs from the babyboom crisis

Wherever I look nowadays everyone is talking about, among other things, the ‘talent crunch’ or ‘brain drain’ and how companies will suffer from it. While this is certainly true, I’ve not read one article that has considered how the loss of so many could negatively affect how the market place will function or how it could negatively affect profit margins.

Is that because everyone knows for sure that the loss of so many will make not one jot of difference to how the marketplace will function in 10 years time? Who knows.

It’s no secret, many companies are wringing their hands with glee saying:

“Good riddens baby boomers, bring in the Generation Xers!”

But the hard fact is, we don’t have enough Generation Xers to replace the 78 million boomers slowly leaving the marketplace, and that’s just in the US.

But besides dealing with the gradual reduction of brain power, companies could do more to prepare themselves.

They could grab on to a simple truth that has been powerful and effective since time began, and has buffered many a company through the toughest of times and that is:

Relationships, add to that quality and you’re rewarded with customer loyalty. Pure and simple.

If every company played it’s part and focused on offering relationship and a quality service, then that company will survive through the toughest of times.

You don’t have to look too far back in history to see dozens of established, seemingly ‘well to to’ companies large or small, dramatically crumble and fall for lack of foresight, preparation and customer relationships.