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| Title: | UET: Aging Workforce and Aging Assets Trends 2007– 2012 | Published / Released: |
| Price: | $995.00  or  |
4/25/2007 |
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| Synopsis: |
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| “This report is incredible and is very comprehensive, informative and useful!” Larry B. Vice President, Human Resources While awareness of the aging workforce and aging utility assets is high, the far-reaching effects of workforce retirement may prove to be more of a tsunami for utilities than a wave—and they are coming faster than anticipated. In January of 2007, UtiliPoint International surveyed 42 electric, gas, and water utilities to determine the state of the aging workforce and aging utility assets from 2007 through 2012. Respondents ranged from C-level executives through engineers, human resource planners, and IT decision makers. 45 percent of utilities report having at least 20 percent of their workforce considering retirement this year, increasing to greater than 60 percent over the next five years, however fewer than 50 percent are undertaking programs to retain workers or stop the brain drain. And while as many as 94 percent of utilities agree that asset management is core to utility performance and 60 percent agree that addressing the aging utility infrastructure is a very high priority, a predominance of utilities report being "reactive" to asset investment and maintenance. Utility executives must escalate their efforts in addressing these critical issues as the economic effects of competency loss—and the cost of incompetence on utility performance—affect all asset investment, EPS growth, cost containment, and outsourcing decisions being made today. |
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