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Do you know the age profile of your staff and their retirement plans? Can you identify those staff members whose knowledge would be most keenly lost by your organisation should they leave? Who’s responsibility is the retention of knowledge? David DeLong’s book begins with a discussion of current developments and provides examples of the types of impact experienced by companies when senior employees retire. DeLong’s studies appear solely within the USA, but nevertheless they offer examples that are deeply worrying should they be replicated elsewhere.

Flexible manufacturing systems, team work with decentralisation of decision-making, integration of tasks and multiple allocation across functional barriers demand a skilled work force prepared for continuous learning and adaptation. It is common to see a younger, well-educated and trained work force as being required for such a production environment. A closer empirical look at most of the internal labour markets in this study shows that existing labour market structures do not match this image. Existing labour markets consist very often of an older (and ageing) labour force with relatively low skills and with resistance to continuous training. These structural features have, over the last ten years — despite the existence of costly early retirement measures and new entries into internal labour markets — not much improved, and in many cases have even deteriorated.

They've got the smarts and the confidence to get a job, but increasing numbers of the millennial generation — those in their mid-20s and younger — are deciding corporate America just doesn't fit their needs. So armed with a hefty dose of optimism, moxie and self-esteem, they are becoming entrepreneurs. "People are realizing they don't have to go to work in suits and ties and don't have to talk about budgets every day," says Ben Kaufman, 20, founder of a company that makes iPod accessories. "They can have a job they like. They can create a job for themselves."

"They want to create a custom life and create the kind of career that fits around the kind of life they want," says Bruce Tulgan, the founder of RainmakerThinking, a management training firm in New Haven, Conn., and an author specializing in generational diversity in the workplace. Experts say these children of the baby-boom generation, also known as Gen Y or echo boomers, are taking to heart a desire for the kind of work-life balance their parents didn't have. They see being their own boss as a way to resolve the conflict. So now they're pressing ahead with new products or services or finding a new twist on old-style careers. They're at the leading edge of a trend toward entrepreneurship that has bubbled for decades and now, thanks in large part to technology, is starting to surge. "It is a fun-loving generation," says Ellen Kossek, a Michigan State University professor in East Lansing who has spent 18 years researching workplace flexibility. "They view work as part of life, but they don't live to work the way we were socialized as boomers. There is a real mismatch between what the young generation wants and what employers are offering."

Those who have studied generations in the workplace, such as author David Stillman of Minneapolis, do have some insights. Stillman, who co-wrote the 2002 book When Generations Collide, say these young workers have very different ideas than earlier generations. "This generation has the group-think mentality," he says. "When you are raised to collaborate at home, then you are taught how to do that in middle school and practice it in college, you show up at work saying 'Where's my team?' They're just comfortable working with peers." Many go into business with friends.

"Generation Y is much less likely to respond to the traditional command-and-control type of management still popular in much of today's workforce," says Jordan Kaplan, an associate managerial science professor at Long Island University-Brooklyn in New York. "They've grown up questioning their parents, and now they're questioning their employers. They don't know how to shut up, which is great, but that's aggravating to the 50-year-old manager who says, 'Do it and do it now.' " That speak-your-mind philosophy makes sense to Katie Patterson, an assistant account executive at Edelman Public Relations in Atlanta. The 23-year-old, who hails from Iowa and now lives with two roommates in a town home, likes to collaborate with others, and says many of her friends want to run their own businesses so they can be independent. "We are willing and not afraid to challenge the status quo," she says. "An environment where creativity and independent thinking are looked upon as a positive is appealing to people my age. We're very independent and tech savvy."

Lifelong learning is the concept that "It's never too soon or too late for learning", a philosophy that has taken root in a whole host of different organizations. Lifelong learning is attitudinal; that one can and should be open to new ideas, decisions, skills or behaviors. Lifelong learning throws the axiom "You can't teach an old dog new tricks" out the door. Lifelong learning sees citizens provided with learning opportunities at all ages and in numerous contexts: at work, at home and through leisure activities, not just through formal channels such as school and higher education. Lifelong education is a form of pedagogy often accomplished through distance learning or e-learning, continuing education, homeschooling or correspondence courses. It also includes postgraduate programs for those who want to improve their qualification, bring their skills up to date or retrain for a new line of work. Internal corporate training has similar goals, with the concept of lifelong learning used by organisations to promote a more dynamic employee base, better able to react in an agile manner to a rapidly changing climate. In later life, especially in retirement, continued learning takes diverse forms, crossing traditional academic bounds and including recreational activities. One of the reasons why lifelong education has become so important is the acceleration of scientific and technological progress. Despite the increased duration of primary, secondary and university education (14-18 years depending on the country), the knowledge and skills acquired there are usually not sufficient for a professional career spanning three or four decades. Contents

Ellison is not your typical teen, although he modestly says skipping five grades is attainable feat for other kids."It's just easy," said the Lincoln Park teen. "I don't understand why other kids couldn't do the same thing."Ellison found himself in college at age 12 because of boredom and a bet.Unchallenged by middle school, Ellison skipped seventh grade because he was earning straight A's without doing any homework. His father then challenged his son. If he could accomplish the same feat in eighth grade, he'd find a way to get him in college. Ellison quickly won that bet.