Layoffs Put Future Succession Into Jeopardy

Many industries prioritize management retention as part of their succession plans, but in light of the late 2014 layoff grumblings, many Texas firms are jeopardizing their future leadership plans. The lack of future leaders in a company won’t be felt in the next year or two but, rather, in five to ten years, as the company recovers and has to look outside for its executives.

A recent article, “Candidate-driven market equals retention challenges in 2015″ in Staffing Industry Analysis, talks about how the growth market is creating a candidate-driven market and young talent are moving on to further their careers. These candidates will be looking to advance their careers by taking other jobs. The same holds true in 2015 should anticipated layoffs occur–either way, people are going to leave.

No matter the reason, companies need to focus on succession planning and retain the superstars of tomorrow to lead the company beyond 2020. They need a process that identifies, trains and retains their leaders for tomorrow so that their future leaders are not learning as they lead, but hitting the ground running.