Larry Nordhagen, Leadership Development Practice DirectorNo, it’s not your imagination. You are going to a lot more retirement parties these days. And as much as it’s fun to mingle with co-workers and eat cake, those frequent parties are indicative of a trend that’s affecting companies all over the United States. More people are retiring and in greater numbers than at any other time in United States history. In fact, it’s estimated that 10,000 people are retiring every day.
With all those seasoned colleagues walking out the door, your organization faces a significant brain drain that could hit every department, and could have an especially strong impact among executive leadership. Clearly, you’ll need to be reaching into the ranks of less experienced associates in order to fill this gap. But how can you prepare them to manage, lead, and accept great responsibility on a fast-track schedule?