Are the “Boomers” causing a Business Bust?

I guess the “Boomers*” are now being blamed for the short-sightedness and “short-term” instead of “long-term” planning that Corporate America should have been doing all along. Here’s an article in the Chicago Tribune® written by Rex Huppke: As boomers leave workforce, transfer of knowledge is key. Basically as the Baby Boomers are retiring their “job-related” knowledge retires with them!

*Post WWII babies born between 1946 and 1964)

Here’s a very short story of mine about the value of “tacit knowledge” as it was named by Prof. Dorothy Leonard in Mr. Huppke’s above article:

We needed a plumber (ha, who doesn’t need a good plumber) and thus called one to our home. During his visit with us, the plumber commented how difficult it was to find new help for his business. He said that the men (in this case) came with the requisite “book” knowledge but did not have the “trouble-shooting” knowledge needed in order to “problem-solve” plumbing issues. Unfortunately, that “tacit knowledge” only comes with years of working the “plumber’s trade” and being presented with hundreds of flooding basements, leaky faucets, over-flowing toilets, plugged drains, and the milieu of plumbing problems that only a really handy husband, friend, or expert plumbing can solve.

Of course, apprenticeships and trade schools were common here in the States during the 40s, 50s, and 60s. During high school, there were courses called “shop” meaning those courses that introduced teenaged students to blue-collar-type skills such as carpentry or auto repair. Here’s an article from Forbes.com (a business magazine) written in 2012 that talks about California eliminating “shop classes”: The Death of Shop Class and America’s High Skilled Workforce.

Call these “unintended” consequences of “off-shoring”, H1-B visa permits, trade agreements, cost-cutting measures for financial/economic reasons… call it or point a physical or virtual finger at whatever one’s wishes to blame but… we “are” economically where we “are.” First, blue-collar jobs were “lost” in the US to lower-paying jobs in companies in other countries, then white-collar jobs started vanishing in the US, funny thing about some of those jobs, the “jobs” still might remain in the US but the guy or gal in the cubicle next to you was hired by a contractor agency who was not domiciled in the US and the co-worker might be working here with one of those H1-B work visas.

Now we can get into “lack” of skilled workers to fill the positions, etc.; but just like China’s One Child Policy has really come to slap them in the face, US citizens have been smacked in the face for several decades due to short-sighted policies, lack of proper training policies, or lack of long-range planning (to name a couple of reasons).

I have written a six-part blog series on the subject of jobs. Here are the links for your edification, enjoyment, amusement, or gain in “tacit knowledge”.

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Youth
Expert

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