I have to admit, I'm fatigued about hearing and reading aboutmillennials.

I'm also growing weary of hearing just how old the Baby Boomergeneration is getting in our workforce, and how retirements enmasse are inevitable. I know that millennials are now the largestgeneration. I know they now outnumber all the generations inthe workplace. I also know that they will work in the risk andinsurance industry and in government where I work, despite thosebeing two “old school” employers' that lack glamour andpizzazz.

Outflux of critical expertise

In the City of Los Angeles where I work, we have about 40,000employees. According to Mayor Eric Garcetti's budget summary fromlast year, “By 2018 approximately 46 percent of the City'sworkforce will be eligible to retire. This impending outflux ofcritical expertise and institutional knowledge threatens toseverely hinder the City's ability to provide vital services.”

I know the insurance industry has an aging workforce aswell, and global management consultancy McKinsey & Co.estimates that 25 percent of its workforce will be of retirementage by 2018 — and that the age of the workforce 55 or older hasincreased by 74 percent in the last 10 years, compared to a 45percent increase in the overall workforce.

I recently hired my first millennial to join our staff, and Ihave not had anyone ask so many questions about the position andwhat she would learn and how she would grow. It almost seemed likeshe was negotiating perks better than a 20-year employee. I hiredsomeone who is straight out of college. I value experience. She hasnone. She may want my job already, but she is not that good. Notyet.

Risk management is never boring

In insurance and in government, we can both do a better marketing job of repackaging oldindustries as most deem them lacking any type of flavor andglamour. We have an optics problem that is hard to overcome.However, with an organization as large and diverse as the City ofL.A., I never get bored.

My insurance broker knows my business so he is versed in myrisks. My insurance carriers know our risks and enjoy the risks andus as a valued client. Risk and insurance work is neverboring. The ability to be an insurance broker/agent or carrier thathas multiple clients in interesting companies is compelling. As arisk manager I know a little about everything my organization does,and I find it fascinating.

So as we enjoy RIMS 2017 in the City of Brotherly Love, we should thank ourlucky stars for millennials. We should also thank the boomergeneration. It does not have to be the end for boomers.

We'll all flourish

Boomers have so much more to offer (and everyone knows that 70is the new 50, don't they)? The millennials will lead us as long asthey remember to first listen, learn and then lead. Theywill lead in ways that will be different that not everyone willunderstand but it will be effective. We will all flourish in a newand improved workplace that is full of diversity of ideas andimagination.

So, don't be shy at RIMS 2017: Have you hugged a millennial today?

Victor Parker is the director of risk management for theCity of Los Angeles. Contact him at [email protected]. Opinionsexpressed are his own.