Succession Planning

LiveScience.com suggests we are living a lifespan longer than ever. As an employer, extended longevity has implications with regards to your workforce and presents unique challenges in succession planning.

It's not just that we're living longer, but in many instances, we're still productive and capable of making valuable contributions - even as we near the age where we're expected to hang up our gloves. And we know it too! Statistics suggest Baby Boomers (those born between 1946-1964) and even Traditionalists (those born between 1927-1945) continue to make up a significant portion of the workforce. The fact is older workers are likely to remain a continuing presence in your workplace than you had originally planned for.

So what does this mean for your succession plan?

Undoubtedly you have younger workers ready to assume greater responsibilities within your organization. Should you leave older workers in place? How can you make room for the next generation? One possibility is to create new roles for your older workers - roles where they can assume responsibilities for special projects that stand to benefit exclusively from the experience and lifetime of accumulated knowledge they possess. You can even bestow upon your older workers a new title that respects the contributions they have made in service to your organization.

Start today! Begin the grooming process by providing your protégé with an opportunity to learn from a mentor - one already on your staff!

As the adjustment moves forward, the transition will be easier for all concerned and less traumatic too.