Facing large-scale human capital losses in the next few years, the Department of Revenue has joined forces with Bunker Hill Community College (“BHCC”) to prepare for the retirement of baby boomers – the so-called “silver tsunami.”
Over the next five years, the Department expects approximately 500 employees to retire. According to Commissioner Amy Pitter, this is approximately one-third of the Department’s current employees. This estimate is consistent with the Department’s 2013-2015 Strategic Plan issued last February.
In response to the looming brain drain, the Department and BHCC have partnered to create a certificate program and an associate degree program (with concentration in tax) which will prepare students for a job with the Department, and offer internships that will allow students in the program to gain practical experience. Successful interns are likely to be offered jobs with the Department. Taxpayers should continue to monitor the Department’s efforts to deal with the near-term loss of some of its most experienced employees. If the Department does not find a way to address the silver tsunami, the result is likely to be more administrative complexity and delay for taxpayers dealing with the Department.