When a senior leader leaves an organization, it’s like a library burned to the ground, UNLESS that organization was proactive and used mentoring and succession planning to prepare for that day.
It is just plain amazing! There are a huge number of organizations in every setting which are facing major succession problems, but they do not even know it!
- Is YOUR organization in this situation?
- Do you really know?
- Do you have the data that tells you if this is a reality for you?
- How will you cope with a significant erosion of your leadership, your knowledge base of effective practice, and the skills that your senior leadership possess?
Here are some startling statistics which demonstrate why so many organizations need mentoring for better succession planning and preparation.
- 172 corporate vice presidents were in the World Trade Center at time it collapsed. Were the companies and agencies for which they worked ready with talented, developed high performers in their “talent pipeline”?
- 87% of senior managers and 78% of middle managers in the Federal government are eligible to retire. Does the government have the talent already identified and developed to address this potentially major disruption?
- 1 in 7 of the senior executives in the Fortune 500 are eligible for retirement in the next few year. Will these companies still be rated in the Fortune 600 when this shift happens?
- The occupations with the highest percentage of people at age 50 or over and nearing retirement age are;
- Airline pilots
- Industrial engineers
- College professors
- HR practitioners.
- Government (at all levels) and light manufacturing industries in the US have
the most aged workforces.
- Right now, one million college professors and one million public school teachers
are eligible for retirement and 50% of all community college presidents are ready
for retirement. How’s that for a potential “brain drain”? Do you suppose that the organizations in which they work are well prepared for this eventuality? Sadly, most are not.
- Nationally, half of secondary school teachers are 45 years old or older, with
75% expected to retire by 2012.
- 2/3rds of the increase in the US Population between 2000 and 2050 will consist of immigrants. This means that sufficient numbers of applicants for these opening positions will be lacking because of barriers that will challenge these populations:
- English proficiency
- Sufficient education and training
- English proficiency
Additionally, every year for the next three decades, there will be fewer young people entering the job market than there are workers leaving. The needs are expected to exceed the supply !
Read about what a nuclear generating station’s engineering department found out about their near future, the implications for their continued existence, and how they used mentoring and other strategies to take the dramatic readiness steps needed to survive and thrive.
Read about what a university did when they discovered they faced massive retirements of their key leadership and professors. Among several things, they developed a “mentoring and succession” program.
Then, get started assessing the age of YOUR senior staff and leaders. Find out what the retirement potential for them is. And then, start using mentoring to ensure that the knowledge and skills, the savvy and wisdom they possess is transferred to your younger employees, to it does not leave when they do.