IT shops with legacy systems should pay particular attention to the tech skills gap that is fast approaching with the retirement of baby boomers from the market place. Systems in legacy environments such as mainframe or AS/400 have often been in place for twenty or thirty years. They are frequently large, complex and costly to replace. Many of the applications are custom and to make the situation worse they are frequently undocumented or only partially documented. Yet, they have been running successfully and you have decided to 'stay-the-course' and not replace them at this time.
As a CIO you have probably looked at the risk to your organization from the software and hardware perspective. But have you looked at it from the people perspective? The youngest baby boomer is now 52 years old. In legacy environments retirement is often a combination of age plus years of service. This means that your baby boomers may be eligible for retirement well before the normal retirement age of 65 years. To make the people risk more challenging, languages like Cobol and DB2 are no longer widely taught in computer science programs and the new generation of tech talent is not interested in working on legacy systems.