Succession planning is a key element of your overall workforce planning process. And with business more competitive than ever and large numbers of Baby Boomers retiring each year, the need for effective planning has never been greater.
Succession planning has traditionally been focused on replacing senior executives. But two major business and demographic realities point to the need for a different approach:
- In today’s fast-changing, project-based business environment, you need to develop and promote high-potential employees at all levels, not just at the executive level.
- With Baby Boomers retiring every day and not enough skilled workers to replace them, you’ll want to both retain older workers and accelerate development of younger ones.
To stay in control in this challenging environment, you need a comprehensive plan that reflects these and other emerging business trends.
Get started with a free workforce assessment
No matter what the size of your business, a good workforce assessment helps you align your business goals and overall workforce planning—and even strengthen your employer brand.
The American Association of Retired Persons (AARP) and the Society for Human Resource Management (SHRM) have developed a Workforce Assessment Tool. Use it to gauge the effects of upcoming retirements, assess skill gaps, manage a multigenerational workforce, and more.
Need help with succession planning or other workforce issues? Contact your local American Job Center to connect with a Business Services Represenative or other resources that can help.