Twenty percent of top management positions and 25 percent of middle management positions will become vacant in the near future,and retirements of baby boomers will accelerate this trend.Yet,about one-half of the HR managers consider developing potential leaders as a high priority.What reasons would you give to these HR managers to have them better understand the importance of succession management?

Succession Management

The process of identifying and developing new leaders who can replace old leaders when they leave, retire, or die, ensuring the organization's continuity and effectiveness.

Baby Boomers

A demographic group born approximately between the years 1946 and 1964, known for significantly impacting economies and societies.

HR Managers

Human Resources Managers are professionals responsible for overseeing the recruitment, training, and welfare of the employees, ensuring compliance with employment laws, and supporting organizational goals.