Looking At Future Leadership
ACensus Bureau report reveals that by 2029, when all Baby Boomers turn 65 years or older, they will represent 20 percent of the U.S. population. With
more and more Baby Boomers reaching and even surpassing retirement age, organizations need to focus on creating a succession plan to recruit and train top talent.
Supply chain management researchers at Auburn University and Central Michigan University conducted a study
that found that only 12. 5 percent of companies surveyed
engaged in formal succession planning — a number that
is far too low.
Overcoming the increasing amount of senior-level
retirements in the supply chain and logistics industry
requires intelligent and ongoing succession and recruiting
practices. Here’s what you need to know to plan internal-
ly and externally to keep the talent pipeline full and keep
a company thriving, despite rapid leadership retirement.
Planning From The Inside Out
Experienced employees possess the necessary technical
knowledge, skills and client relationships that keep their
companies growing. Manager and leadership retirements
can therefore cause issues if adequate measures have not
been put in place. To meet immediate needs, a balanced
mix of internal and external staffing is a great way to
retain top talent.