Louis Chenevert is a Canadian businessman who is popularly known for transforming United Technologies Corporations. Chenevert served as the firm’s Chairman President and CEO. UTC is a leading conglomerate in the aerospace sector. Besides UTC, Louis Chenevert has served in other multinational companies such as Pratt & Whitney and General Motors among others.
The aging dilemma is an issue that has been of concern to the human resource managers of companies. As people age, it is naturally expected that their performance and health would be compromised. However, research has disputed this assumption as about 25 percent of Americans who are over the age of 65 are the ones that have been categorized to have fair to poor health. The majorities 75 percent are fit and are still productive at their workplaces. A research that was conducted by over 2500 human resource officers suggests that the aged were more experienced knowledgeable, skillful, show greater professionalism and strong work ethics as compared to youthful workers.
It appears that the youths will have to wait longer to take up the occupation of the Baby Boomers whose life spans have increased and are not prepared for retirement due to some reasons. Among the reasons is that many of these people have no retirement savings and pension plans and can only depend on the social security fund that is not enough to cater for things like health insurance. From research young people have also been found to lack the necessary skills for most jobs. With technological advancement, there is the fear of redundancy in regards to skills in the workplace. Jobs qualifications have changed and more jobs today require digital and technology knowledge.
Louis Chenevert had earlier foreseen these human resource challenges while working as president and CEO of UTC. As a result, Chenevert initiated an employee scholar learning program that will ensure that UTC employees whether young or old would always remain relevant in the workplace. The program gave UTC employees the chance to advance their careers or explore new opportunities in different fields. UTC fully sponsored the program and paid for tuition, academics, and books. The program is quite a success, and so far UTC has spent more than 1.2 billion dollars on the program.