Excerpt: Over the past years, different publications clarified that many older employees will have to stay in the workforce because they simply cannot be replaced due to a lack of qualified, or even existing, young workers. Moreover, 'future leaders are likely to face not simply a labour shortage, but a knowledge shortage, as organisations bleed technical, scientific, and managerial know-how at unprecedented rates' (DeLong 2004: 18). It therefore is of utmost importance that businesses start emphasising special retention strategies for retaining older employees such as constant provision of good training as well as motivation and energy. The aim of this master's thesis comprises of the evaluation and comparison of different strategies to cope with demographic challenges.

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