With retirement on the horizon for the baby boomer generation, organizations must ensure they have the right talent in place when the time comes to hand over the business reins. Featuring the AESC's research into succession planning, this Bloomfield article highlights why assessing your leadership talent pipeline should be a key consideration for all organizations. Building a comprehensive understanding of the strengths, and indeed weaknesses, of candidates earlier in their careers will enable organizations to identify their future leaders and better invest in their development. A clear succession plan for key roles will ensure that when the time comes for a change in leadership, businesses will experience minimal disruption.
In a survey of 850 executives around the globe, AESC found that developing a talent pipeline for future leadership ranked among the top five reasons for building talent strategy. Currently, companies are struggling to attract the future leaders of their organization. “There’s a gap between the talent organizations have and the talent strategies that businesses are demanding.” - Karen Greenbaum, President of the AESC