As I continue my travels from coast to coast, I’m finding more and more organizations, across industries, placing more focus on developing their Future Leaders.
As odd as it may seem to be concerned about jobs going unfilled at a time when unemployment is nearly 10%, experts suggest that in some industries, employees may soon be retiring at a much faster rate than they can effectively be replaced. Where those new workers will come from and the cost of training them are employers’ two top concerns.
UPS announced that it will need to hire 25,000 new employees over the next five years to replace retiring baby boomers. This trend will obviously affect many employers across the country.
As few as 6% of organization have leaders identified for critical roles. Strikingly, 22% have no one slated to take over any key positions.
Research by the School of Public Policy and Urban Affairs at Northeastern University predicts labor shortage over the next eight years to the tune of more than five million job vacancies. Savvy companies are proactively preparing today for this inevitable shortage lurking in the shadows of the near future.
If the baby boom generation retires from the labor force at the same rate and age as current older workers, the baby bust generation that follows will likely be too small to fill projected new jobs.
The key issue for employers is: Are there enough workers in the pipeline who are trained and ready to step in when the baby boomers retire?
We’ve worked with several organizations over the years in creating a “Future Leaders” program for this very purpose. The process is simple and straightforward. Potential leaders are selected to attend on-going leadership boot camp seminars to expose them to the fundamental tools and strategies required to lead organizations in chaotic business environments. Some programs are conducted monthly and others quarterly.
In many cases, there are no openings available for those chosen for this training at the time they are chosen. However, when the crucial need does arise in the future, leaders can be assured that they will have candidates fully prepared to step into leadership positions with the leadership competencies required for individual and organizational productivity and success for everyone involved.
We’ve noticed over the past year that more and more leaders are recognizing the need and value of this approach. Requests for “Future Leaders” programs have increased and will certainly continue to do so in the near future.
Do you know where your future leaders will come from? Don’t wait until a crisis strikes to begin this process. Doing so will certainly lead to even greater challenges for your organization.
Call us today at 800-886-2629 for further information about the tremendous benefits available with this “Future Leaders” training program.