No matter how large or small, manufacturing or pharmaceutical or electronics, every business relies on a leader to chart the course and steer the ship. But if your talent is paddling a dinghy while the competition is piloting a super yacht, your business will sink in a nanosecond.
So besides articulating and reflecting a company’s mission and purpose, leaders must be visionaries, always looking ahead. And today’s visionaries are preparing for the “silver tsunami.” In public policy, this term means that our population is graying, and communities will face difficulties supporting an aging population, especially as younger people move away.
Dangers of Brain Drain
Many companies are top heavy with experienced execs making plans for retirement, with no one in the wings with comparable expertise to step into their shoes. In short, it’s a human capital supply chain management problem, aka “brain drain.” Gaps in leadership can leave employees lost at sea, with no sense of direction or vision for the future. Progress stagnates.
Leadership takes know-how and experience. As Baby Boomers retire, who will take their place? Who has the institutional memory and experience to fill the pipeline? This is the challenge facing business owners and human resource professionals in this millennium.
Oliver Wight Americas executive education is led by C-suite professionals in each field. With solid backgrounds as leaders and years of experience, these innovative thinkers have the vision to see what’s ahead—and a commitment to the future through mentoring others. Executive education offers strategies to your entire team, from up-and-comers to seasoned pros, to advance their professionalism. Participants take these skills back to their company, keeping the pipeline filled with talent, and encouraging employees at all levels to stretch and reach their full potential. In small-team workshops navigating real-world scenarios, participants learn alongside seasoned C-suite-level directors and managers who’ve been in the trenches.
Any company’s biggest investment is—or should be—in their people. Consider Oliver Wight Executive Education because, when people feel valued in a company that supports their professional development, they are motivated, they produce, they stay. No brain drain.
Is your company at risk? Tell me what your experience has been with “Brain Drain” or the “Silver Tsunami.” Do you see that happening in your workplace? What do you think will work best for your company?
I highly recommend reading my article about Millennials in the workplace. In my preface, I point out “I’ve also recently been working with several clients whose organizations are heavy with Millennials.” Some of you may resonate with this experience.
There is also another article you might find interesting on the topic of education. See the section called Building the Case for Strategic Education on page 9.
Comedy writer, Robert Orben, once said, “If you think education is expensive, try ignorance.” There is nothing funny about the lack of education and training for succession planning. Malcolm X is attributed for saying “Education is our passport to the future, for tomorrow belongs to the people who prepare for it today.”
Food for thought?