The Coming Retirement Tsunami: Why Transit Agencies and the Public Sector can no Longer Ignore Succession Planning
Posted on June, 9th 2016
Description: Every day 10,000 people turn 65 years of age. Over 53 million Millennials comprise one-third of the workforce and by 2025 that number will rise to 75%. As a result of the rapidly aging workforce, many public sector organizations are experiencing a “brain drain” which places their organizations at a critical juncture. The need for experienced and seasoned employees has never been greater and it’s those employees who are most likely to be retiring in the very near future.
Your public sector agency’s future depends on its ability to identify, retain and prepare future leaders. Beyond simply replacing positions that become vacant, effective succession planning is an ongoing process of identifying, assessing and developing talent to ensure leadership, management and supervisory continuity throughout an organization and, moreover, to sustain its performance.
SURTC (the Small Urban and Rural Transit Center) recently completed an extensive survey of small urban and rural transit agencies on their workforce development efforts, including the extent to which they are engaged in formal succession planning. The results will be presented and will underscore the immediate need for succession planning to be embraced and implemented in a systematic way to ensure continuity of service and to avoid future degradation of service delivery.
The webinar covers:
- The results of the SURTC Workforce Development Survey of 160 small urban and rural transit agencies across 40 different states;
- How to secure commitment and support from policy makers and executives to pursue development of a Succession Plan;
- How to identify and implement strategies to transition from the existing workforce to the one that will be needed;
- Understanding the Five-Phase Approach to process-based Succession Planning;
- How to build the capability to continually shape the workforce to respond to emerging trends, shifting priorities and technological change.
Presenters: Del Peterson, SURTC; and Patrick Ibarra, the Mejorando Group
Related Succession Management Resources (Ibarra):