Has Your Organization Prepared Your Next Generation of Leaders Effectively?
A systematic labor shortage is expected to transform the workplace over the next 0 to 30 years as the gap between Baby Boomers and entrants of college-educated workers widens due to the Boomers’ mass retirement. In the U.S. alone, we are facing a labor shortage of 35 million skilled and educated workers over the next 3 decades (source: Employment Policy Foundation, “Future Labor Skill Shortages Jeopardize American Prosperity”, October, 2001).
This shortage will become more apparent over the next 5 years now that the oldest Boomers have reached 65 years old. Plus, 1 Boomer is now retiring every 8 seconds!
What will this shortage mean to your organization? Savvy companies who are anticipating this shortage are taking strategic action now to groom and develop their future leaders, particularly their Millennials (aka: Gen Y, ages 21-29), to be masterful at communication, managing change and adept at collaborating with all generations.
What makes YOUR bottom-line? YOUR people do. As the Millennial employees within your organization reach their mid-to-late 20’s, they will begin to enter into management and leadership positions. How can you effectively help them with this transition to ensure success for them and your company?