Is succession planning on the front burner for your company? Are you ready for the social change that is happening?
In a recent blog, we looked at the arrival of the Milennials or Generation Y. Those members of the workplace born between 1982 and 2002. These are the business leaders of the very near future. Yet recent research from Penna shows a mismatch between what their bosses think they want from their future and what is actually important to them.
Steven Ross, Head of Career Development at Penna says: “Simply guessing what will engage a Gen Y employee, or any employee for that matter, won’t work. Organisations that fail to do so could see a decline in engagement levels, and productivity, and increased attrition rates – not to mention a serious shortfall of managers and leaders in ten years’ time.”
Without clear understanding of what motivates an individual, it is impossible to determine whether they are likely to be able to meet the criteria required for effective leadership. Modern succession planning uses behaviours as one of the key identifiers of future leadership success.
The McQuaig Psychometric System will help you prepare in four easy steps:
The combination of retirement age leaders and a heightened competition for good talent is a succession crisis in the making for many businesses. Organisations that do not invest in the development and preparation of their employees for more senior roles risk lost organisational knowledge, experience and increased turnover of their most promising people.
To find out more about how the McQuaig Psychometric System can add structure and objective to your succession planning process visit www.mcquaig.co.uk or call 0203 111 9292.