Summary: The demand for leadership talent greatly exceeds supply. If economic growth continues at a modest 2 percent for the next 15 years, there would be a need for one-third more senior leaders than there are today. Who will replace your retiring executives, and how will you keep your company’s leadership pipeline full?
The demand for leadership talent greatly exceeds supply. If economic growth continues at a modest 2 percent for the next 15 years, there would be a need for one-third more senior leaders than there are today.
Baby boomers have already started to retire. Most large companies will have to scramble to meet gaps in senior leadership talent. Who will replace your retiring executives, and how will you keep your company’s leadership pipeline full?
To make matters worse, the global and more dynamic economy of the 21st century requires executive talent with a more complex skill set:
• Greater technological literacy
• A sophisticated understanding of global marketplaces
• Multicultural fluency
• Relationship savvy, with extensive networks of alliances and stakeholders
• Leadership skills over a delayered, disaggregated and virtual organization
Succession Planning in the 21st Century
In response to these challenges, organizations have a renewed interest in succession planning systems. While these systems functioned merely as replacement charts in the past, and were HR executives’ function, there are two critical differences today, emphasizing:
++++++
This is a brief synopsis of an article available for use in your newsletters, blogs, and web pages. If you're interested in learning how to purchase similar content you can use for your own newsletters and blogs, visit ContentforCoachesandConsultants.com.
Recent Comments