Final answer:
The main disadvantage of early retirement incentive programs is the loss of experienced personnel, which can result in a knowledge gap and affect business operations.
Step-by-step explanation:
The disadvantage of early retirement incentive programs (ERIPs) is c) Loss of experienced personnel. Early retirement programs can indeed lead to cost savings for organizations but they also result in the loss of experienced employees who hold valuable institutional knowledge and skills. This loss can be particularly detrimental to a company's operations and may hinder knowledge transfer to younger employees, potentially impacting productivity and business continuity.
Furthermore, the departure of senior employees under ERIPs could disrupt team dynamics and result in a knowledge gap. The organization may need to invest in training and development programs to bring newer employees up to speed, which could offset some of the initial cost savings.