By Michael Warady
Our country is currently in the midst of the greatest transfer of wealth in the history of mankind – not in 10 or 20 years – but today. Much has been written about the Silver Tsunami, roughly defined as the wave of water and wastewater operator retirements across the country. And yet, while every industry conference (virtual or not) reminds us about the latest operator to hang up his or her hat, relatively little attention has been paid to the challenges we face as similar retirement trends plague private businesses servicing the industry across the country.
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Great article Michael. I appreciate your perspective and real-world approach to what I agree could be a greater challenge in the “human side” of aging (as opposed to the aging physical infrastructure). I also agree that the phrase “knowledge transfer” doesn’t do it justice. No technology can create “wisdom transfer;” it comes with time, mentorship, education, hands-on experience, and grit. Technology, as well as financial wealth/ownership transfer tools can *aid* in that transfer, but the wise folks ultimately must mentor the incoming folks with intention. And let’s not forget that the intentionality of mentorship is different than a really good training program. Thank you for raising awareness of the difficult task ahead of us.