Value. The Retirement Action plan is the summation of all of the consultation and manager feedback on how to handle any emergent retirement issues. This should be the final working document that is adjusted and managed throughout time on how to handle all retirement issues.
Data Elements. Each row contains a Job Title/Job Segment that the action plan is appropriate for. The row can represent anything from a large number of employees needing to be replaced, to a single individual needing an action plan around him.
Total FTE: This is total number of FTEs predicted in retirement.
Work Plan: The work plan outlines the division making up the gap within the retirement years. We have included some of the major categories including mentoring internal high-potentials, work share among retiring workers, extending the retirement talent, external hires, and any business process engineering and/or outsourcing opportunities.
Outcomes: This is a summary of the plan for each job title.
Owner: The owner that will be held accountable for implementing the plan.
Presentation. This presentation (Table 10.9) is a matrix with each row as a job title or job segment. The plan for each job title is presented on each line.
Job Title/Skill | Total FTE | Work Plan (Number of FTE) | Outcomes | Owner | Budget | |||
---|---|---|---|---|---|---|---|---|
Mentor | Ret. Work Share | Hire | BPR | |||||
Turbine Engineers | 36 | 21 | 5 | 10 | 0 | College recruiting over the long term has been creating a new team of talented engineers for future projects. Some retiree work sharing will continue to mentor younger engineers for best practices and within quality assurance teams. | L&D and VP, Engineering | $250k |
VP, Development | 1 | 1 | 0 | 0 | 0 | Planned retirement in 2009. Several high potentials are within the unit. | L&D | $ 10k |
Mergers & Acquisitions | 10 | 1 | 1 | 8 | 0 | Management goals are moving this team into new skill areas. Hiring from the outside is desired to gain new skill sets. | Recruiting | $400k |
VP, Specialty Sales | 6 | 2 | 2 | 2 | 0 | Several high-potentials from within each unit are potential successors. During interviews, several potential retirees expressed interest in job sharing and mentoring for the next 5 years, transitioning clients to other sales teams. | VP, Sales | $200k |
Logistics | 50 | 2 | 0 | 0 | 48 | Unit manager has recommended outsourcing the unit to a logistics vendor. Begins in 14 months. | VP, Logistics | $400k |
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