Future proofing an organization against talent lost as baby boomers Term Paper

Future proofing an organization against talent lost as baby boomers retired - Term Paper Example The exodus of the baby boomers combined with the falling birth rates will intensify the competition for the global talent. Most of the businesses from the developed world recognize the need to capitalize on the international markets. It helps the companies overcome the challenges of aging work force evident in their domestic market, by tapping into new growing pool of highly educated talent. However, the rapid growth of the economies of the BRIC countries also means that new businesses are entering the markets. The competition is increasing. Most of the organizations are already experiencing stiffer competition as they expand internationally. The entry of new businesses threats to shrink their international market share. The third trend is that, women form a significant portion of the workforce. Having more women working is transforming the workplace and creating new markets. A woman brings a unique perspective on tapping on some of the growing markets. Also having more women working has increased their saving and spending and thus good for the business. In United Kingdom, the female segment is increasing faster. Currently, the generation X and Y forms the majority of the world population. This generation view of life is different from that one of the baby boomers. They have different goals and motivation. This means that different leadership style will be required to motivate them. The business leaders will need skill not only to do business in this broad environment but also to attract and maintain talents from more diverse and fluid workforce. Skills like people’s kills and emotional intelligence will be highly valued. As the global transformation accelerates, it is becoming more crucial to understand the fundamental trends that shape the future of the workplace. It is, therefore, important for todays leader to formulate a vision for future