Pre-Retirement Insight Management Exchange™

A Golden Opportunity to Gain Valuable Insight

Mine the riches that come from experience

Most companies face a difficult corporate challenge, summed up well by a senior talent officer:

“A surprisingly high percentage of our workforce, many of them key employees, will be retiring within the next three years. We already know we’ll have a challenge replacing them, that’s a given. But there is another problem that we aren’t thinking enough about. It’s simple. The quality and quantity of the intellectual capital that is in their heads, about what’s worked and what hasn’t worked, bottom-line insights about our customers, suppliers and competitors, is stunning. What can we do to minimize the impact of this inevitable brain drain when our most experienced people retire?”

The RivalScape solution is to institute an ongoing program that identifies, contacts and interviews key employees who are in the pipeline for retirement. We call it a Pre-Retirement Insight Management Exchange™, or PRIME.

The goal of an “insight management exchange” is to focus in on, capture, and tie together the bottom-line insights, the nuggets of wisdom, that key members of your senior workforce possess, before the retirement party. Most key employees will be delighted to help the company in this fashion, and will thoroughly enjoy the experience of reflecting on the big picture and giving you their perspective and advice.

In fact, PRIME can be extended to any situation where key employees inform you that they plan to leave the company.

Demonstrate your respect for your workforce

PRIME accomplishes several worthwhile human capital objectives in addition to its primary intelligence function. First, it sends a reassuring message to your cross-generational workforce. It tells younger workers that brains, experience, insights and respect for the individual matter in your company, from the beginning of one’s career to the end. And your more experienced staff will know you value their unique contribution, that you consider them to be an important part of the company’s success.

To potential employees who are more seasoned, PRIME builds the equity of your employment brand by quietly communicating, we respect veterans here.

RivalScape can oversee the entire process of setting up a PRIME program in your workforce. We’ll help you:

• Identify an “executive champion” for the initiative (often the chief talent officer)
• Lead cross-functional team planning
• Build internal support between HR and CI
• Develop the general interview guidelines and also the questions to be customized for individual people, functions and areas of expertise.
• Select and install the most appropriate IT solution to capture, organize and sort the interview content
• Categorize and analyze the resulting insights
• Create action plans to put the most significant insights to practical use to gain competitive advantage.

PRIME can add significant value as a stand-alone function, but is even more effective when integrated into a comprehensive WCI program. The more WCI activities your company can instigate, execute and benefit from, the better any given element will perform. Each successful WCI component helps you instill a competitive intelligence mind-set across the entire organization.