Another important retirement issue is one of lost knowledge. What happens when retirees leave the office

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International Businessinfo_at_answersheets.in91950
30-94040
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• International Business
•  
• CASE STUDY (20 Marks)
• Another important retirement issue is one
  of lost knowledge. What happens when retirees
  leave the office, taking years of experience and
  knowhow right along with them? Businesses lose
  all of that knowledge, but according to American
  Express, it doesn't have to be that way. Through
  a pilot program, AMEX created a workforce
  transformation group that would allow retiring
  participants to gradually give up some of their
  day to day responsibilities. In return, the
  employees would spend some of this time mentoring
  and teaching classes to successors.

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• This resulted in a phased retirement,
  allowing employees to leave gradually and enjoy
  more time while still enjoying a portion of their
  previous salary, and regular benefits. This also
  meant that some employees stayed a year or more
  past traditional retirement age. AMEX believes
  this program is a success, allowing senior
  employees to enjoy their last years of work in a
  reduced capacity, as well as educating the
  existing workforce for future success. Consultant
  David De Long agrees, citing this program as an
  example of how job handoffs should really work.

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• Answer the following question.
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• Q1. What are the issues involved with retirement
  of the employees?
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• Q2. In your opinion how the smooth handing over
  of responsibilities can take place.

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