How to Create a Culture of Succession Readiness

Let’s start with a quote “Failing to plan is planning to fail”. Every day for the next 18 years, 8,000 Americans will turn 65. That demographic includes today’s 47-year-olds. The AARP estimates only about 37 percent of companies have considered how this brain drain will affect them in the next five to 10 years. The situation is not very different in India where retirement/superannuation age for central Government and Public Sector Undertakings employee is 60 years. A big chunk of employees are going to depart from the organizations in next few years. The skills leaving the workplace will create a knowledge gap that is hard to fill. Therefore, leaders must…

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