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Keeping Eye on Future Leaders

NEW YORK - With 25% of credit union CEOs set to retire, are credit unions doing enough to prepare future leaders? DBM, a global human resources consulting firm, has found that 94% of human resource professionals polled in a recent survey feel their organizations have not adequately prepared younger generations...

By Staff Writer | Updated on August 12, 2003

NEW YORK – With 25% of credit union CEOs set to retire, are credit unions doing enough to prepare future leaders? DBM, a global human resources consulting firm, has found that 94% of human resource professionals polled in a recent survey feel their organizations have not adequately prepared younger generations to step into senior leadership positions. The findings indicate that most organizations are not prepared for the approximately 60 million baby boomers who will be leaving the workforce over the next 15 years, creating severe manpower shortages and senior leadership gaps. “Fostering interaction between the younger and older workforces within a company is a necessary step in preparing younger workers for senior leadership roles while preserving valuable institutional memory,” said Tom Silveri, DBM president. “Organizations that proactively integrate their diversified workforces will reap the benefits of learning from past experiences while preparing for future opportunities.” DBM experts suggest that organizations should consider the following strategies in preparing for the future shift in workforce demographics: *Educate employees of different age groups on what each contributes to the work environment and organizational goals *Motivate older workers to continue acquiring new skills, thereby increasing their employability both inside and outside the organization *Enable workers of all ages to recognize their transferable skills and seek opportunities within the organization before taking their experience and knowledge elsewhere *Implement a corporate mentoring program *Equip employees of all ages to network across generations, forming connections internally and externally.

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