Challenges of succession planning & the future of Gen Z in 2023
In this week's Hanover Talent Insights:
?????? Richard Waddell advises on the challenges of succession planning & how to overcome them
?? Una McGuinness asks whether the Gen Z talent will feel the squeeze in 2023
??♀? Victoria McLean discusses the negative impact the ‘apologising habit’ has on careers and how to break that habit for good
The challenges of succession planning & how to overcome them
An aging population like we have in the US comes with inherent challenges. In fact, Fortune has?called it ?a “smoldering crisis.” It puts pressure on healthcare, education, taxpayers…and businesses. By 2040, almost?half the country ?will be 40-plus.
This can have a huge impact on your organization, one of which is that it means you need a real focus on succession planning. And yet, only?54% of boards ?are actively developing a successor to the CEO.
But why is succession planning so important??
1.?As?executive leaders ?look one or two levels below themselves, they see potential successors who are young and lack experience. It’s hard to predict if they’ll be ready to take on a more senior role in the longer term.?
2.?Because of this, organizations go to the market to find successors rather than promoting internally.
Recruiting externally can be counterproductive and harm employee retention.
3.?In this article, I examine the challenges and risks of succession planning, as well as the enormous upsides to your organization.
Will Gen Z talent feel the squeeze in 2023?
Organisations that want to attract (and retain) the best of Gen Z talent need to have a real focus on DE&I, offer strong personalised development programs and provide a degree of flexibility that provides a true work/life balance.?- Una McGuinness, Marketing & Strategy Director at Hanover
Here is another of our predictions for 2023... Una McGuinness explains how Gen Z talent, the first true digital generation may have to compromise if wanting to both advance in their careers and ensure job stability. A positive outcome though is that employers are starting to change how they attract, hire, develop and retain talent.
There’s been a lot of movement amongst Gen Zs, who are demanding roles on their terms and with flexibility. However, this has been limiting their learning opportunities, ability to network and get involved in exciting projects. I predict this will change as we move into a recession and the job market becomes tighter.
领英推荐
Gen Z tends to prioritise roles in which they can expand their skills and broaden their talents and experience. They need to feel like they are constantly learning and developing - and that’s admirable. However, their drive for roles which offer flexibility in terms of hybrid working can also be self-restricting, especially in the current climate where job security is becoming more of a priority as the market tightens.?
FREE ONLINE EVENT:
Hanover presents:
'Sorry Not Sorry. Why women apologise too much' for International Women's Day #EmbraceEquity
On March 6th at 10am, we will be hosting a webinar in support and celebration of International Women’s Day 2023.
The topic is relevant to every woman in the workplace and one where we can make a practical and real difference to female equity.
Many women in the workplace begin practically every sentence with the word ‘sorry’. They say, ‘Sorry, is this a good time?’ ‘Sorry, can I come in?’ ‘Sorry, can I speak?’ The ‘sorrys’ that we sprinkle through our days make us appear less confident and competent.
Victoria McLean , CEO of Hanover Talent Solutions, will discuss the negative impact the ‘apologising habit’ has on careers and how to break that habit for good.
She will share:
This webinar will show you how you can talk confidently, and unapologetically, to get the balance right.
We are hosting the event in association with our charity of the year, Refuge, who support thousands of women & children every day, experiencing domestic and sexual violence.
Please consider a donation to this fantastic charity by visiting our JustGiving page: