b'SEEDVS THE GENERATION COMPANIESTURNOVERAs the baby boomer generation begins to retire, a new generation is coming on the work scene with completely new expectations.Alex MartinTHE WORKFORCE ISin the midst of a change. One of thea year or two, people are being asked to step up because the largest generations are about to exit the workforce for retire- organization needs them to step up, and thats a massive shift in ment, while an entirely new generation is just beginning to enterexperience and in the time to get to know the market and the ins the job market.and outs of the organization.According to the U.S. Census Bureau, by 2030, all baby boom- When its time to move people up a little sooner than normal, ers will be age 65 or olderwhich accounts for 73 million peopleWaschek says you have to be ready to invest in them. That in the U.S. Over the last decade, the 65-and-older population grewmeans companies need to be ready to invest as soon as the hire by over a thirdup 34.2% during the last decade and by 3.2%is madefrom there, you start grooming them and training from 2018 to 2019. Unfortunately, the surge in those 65-and-upthem to be able to move into a new role quicker. number has outpaced the growth in the working-age population. But, to invest in those new roles and new hires, its important What does that mean for the seed industry? to remember what generational differences come into play. Weve known this was going to be happening for the lastWhile baby boomers have a more traditional idea of value in the while. We knew at some point that generation was going to wantmarketplacebeing the idea that you work hard and build up to retire, says Mark Waschek, president of Ag1 Source. Despiteexperience that youve earnednewer generations dont neces-the current stock market and economic conditions, for the lastsarily measure a key metric of success as the number of hours in two or three years, the stock market has done phenomenallya work week. well. The pandemic created the opportunity or the environmentWhen youre interviewing this current generation thats in for a lot of folks to not only retire, but also retire early. college, you better be prepared to answer some pretty tough Though plenty of companies offered early retirement pack- questions about what impact they are going to have, Waschek ages during the pandemic, the workforce hasnt recovered tosays. They arent just looking for a joblets be honest, theres pre-pandemic levels. The millennial and Gen Z generations areplenty of jobs out there in the seed world. They have the mindset significantly smaller than the boomer generation, it makes talentof: I want to find the best job and I want to find a company that replacement that much more difficult. recognizes my net worth. I want to make sure it makes an impact Its not appropriate to walk up to an employee and say: Hey,in the company and the world.youre thinking about retiring, right? but you can start to pre- While our industry is full of technical know-howthe seed pare and acknowledge the need for succession planning in yourplacement, the technology behind the seed, how to position organization.products, etc.its not the only thing companies need to be Organizations that are able to create the best successioninvesting in with new hires.Investing in other areas, such as man-plans treat it as more of a replacement plan, Waschek says,agement training, is just as important as the technical knowledge. noting that this often involves the person thats going to be retir- I challenge a lot of organizations to look at their investment ing to help coach the replacement, if possible.in training, and a lot of companies might be shocked to see that One of the toughest problems though with a mass exodus ofmiddle management is typically a gap in training, Waschek says. retirees, though, comes with the knowledge gap created in yourWhen Im talking about investment training, Im talking about business. Aside from the talent gap, Waschek says the next big- what were the types of things that make good managers better gest challenge in succession planning comes from the time and and a lot of this training is to help understand generational knowledge gap. differences. Everyone has a different personality and style and People are being asked and are given the opportunity tolearning how to communicate with those people is going to be move up in responsibility faster than before, he says. After justeven more important in the future.SW8/ SEEDWORLD.COMJANUARY 2023'