A phenomenological study: Leaderships' perception of organizational readiness to address the impending Baby Boomer exodus

Overcoming the challenges of the coming retirement-based knowledge drain requires that organizations identify critical knowledge resources within the company and document that knowledge prior to the retirement of the workforce that possesses it. The purpose of this qualitative phenomenological study was to explore the perceptions and lived experiences of leaders regarding the potential loss in organizational knowledge capital that will occur when Baby Boomers retire, and to determine how well prepared organizations are in capturing and retaining this knowledge. In-depth interviews revealed seven themes that offer possible opportunities for leaders to assess how well-prepared organizations are in capturing and retaining the cumulative experience, knowledge, skills, and social networks. The meanings of the themes in this research study offer leaders insight into the parameters for sustaining organizational efficiency despite the loss of an experienced workforce when Baby Boomers retire.