Developing Next Generation Leaders: High Priority on High Potentials
Despite the economic “meltdown” of 2008 and increased unemployment levels, estimates indicate that the impending surge in baby boomer retirements will result in a labor shortage of 10 million workers by 2010 (Dychtwald, Erickson, & Morrison, 2006). If just 10% of these retirees exit leadership positions, the U.S. workforce will soon face a shortage of 1 million leaders.
To compound the problem, the need for leadership talent is a key concern for line executives and human resource professionals for at least three reasons: (a) increasing expectations of shareholders; (b) the volatility of the current financial market; and (c) rapid changes in the business environment, including globalization, evolving business strategies, continuous technological changes, and shifting demographics (Gandossy, Salob, Greenslade, Younger, & Guarnieri, 2007; Schein 2005). Given this potential leadership shortage and the need for future leadership talent, efforts aimed at building leadership pipelines and developing the next generation of leaders seem quite justified and appropriate.
Read the whole article in the October 2009 issue of TIP: The Industrial-Organizational Psychologist .
This entry was posted on Monday, October 12th, 2009 at 6:53 am and is filed under Current Topics, Online Reading, Practitioner Articles. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
