visual examples | hr succession planning

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How Critical Is Succession Planning Given Employees' Age and Tenure?

With the reality that retirement age for the baby-boomer population is rapidly approaching (up to 40% of the labor force within the next ten years), many organizations are placing heavy focus on implementing succession planning models to ensure that successors are identified, trained, and ready to replace today’s tenured workers. In reality, is succession planning truly a priority in my organization? What percent of our active labor force reach retirement age in the next ten years? Which departments does this affect more directly? Which specific executives need to be targeted for replacements? This visual example gives insight into a company’s active workforce to uncover these answers and allow the organization to justify an investment in a succession planning initiative, and also highlights how to prioritize the program.