Connecting the Dots Among People Budgets and Missions
Managing human capital in the federal workforce is a challenge that has plagued presidential administrations and Congress for the past three decades. Significant issues such as homeland security threats, fiscal imbalances, generational differences, and disruptive technologies have caused senior leaders to rethink the traditional management approaches in use since the industrial age. In addition to these human capital issues, reports by the Partnership for Public Service indicate that nearly half the federal workforce is eligible for retirement in 2016. Experts have described these impending retirements as “the perfect storm,” a “workforce tsunami,” and a “brain drain” to name a few. Benjamin Franklin said it best when he stated, “by failing to prepare, you are preparing to fail.” By tapping into knowledge management and understanding the distinctions among generation cohorts, managers can connect the dots between succession planning, human capital management, strategic planning, and fiscal responsibility.