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Talent Trade Tidbit - Silver Tsunami · The Talent Trade

• 0:00
  Hi, this is Stephanie Maas.
• 0:01
  We're hearing mixed perspectives in the market.
• 0:04
  Who's heard, "Yeah, you know, we're just not hiring, and we're not adding. People just aren't moving right now. Companies just aren't hiring." We got to challenge those assumptions.
• 0:15
  We have to be positive messengers in the market too.
• 0:18
  So you have to leverage those market shifts that are happening, challenge those, use industry news, use your team's accomplishments to really dispel some of those myths that might be out there.
• 0:31
  You can certainly be aware of market trends and the challenges that leaders are confronted with.
• 0:37
  I know in banking, we are really seeing that silver tsunami.
• 0:40
  It's the aging boomers.
• 0:43
  We're hearing it with board members at banks.
• 0:45
  We're hearing it with CEOs who are just, you know, "We're just really tired of the ups and downs of the banking industry. We've got an opportunity to sell the bank. We're gonna exit." Board members feeling the same.
• 0:56
  So there's that tsunami of silver hairs who are heading for the exits.
• 1:03
  That's leaving a real void on the bench at banks.
• 1:07
  So succession planning is important.
• 1:10
  We're seeing boomers and Xers beginning to retire.
• 1:13
  You gotta challenge the conversation if you're in banking and think of your own practices.
• 1:17
  You have to challenge the leadership to share with you what they're doing for succession planning, how they're addressing that gap.
• 1:26
  In the downturn in two thousand and eight, nine, and ten, banks didn't do a whole lot of hiring.
• 1:31
  Therefore, they didn't have junior credit people coming in who are prepared now to step into that void.
• 1:39
  So there's a real gap.
• 1:40
  The barbell effect is the other.
• 1:42
  We've got now more junior players coming in.
• 1:45
  We've got the larger other end of the barbell.
• 1:48
  Those people are beginning to exit, where our opportunity is great is in that grip, and that's where our clients need us to step forward.
• 1:56
  So be aware of your market intel.
• 1:59
  Challenge leaders with what they may be reluctant to share with you, but encourage them.
• 2:04
  You, you have to do the give to get.
• 2:05
  Offer insight that you may have to encourage them to be forthright with you about what their succession plan looks like.
• 2:11
  What will they be doing to address those changes in the market or at their organizations?