We've been talking a lot about building "talent benches" and ensuring succession for key positions. This employee grooming and development ensures continuity in strategy and culture.
Forty percent of companies hire CEOs from outside at a cost of $1-3M with a 40-60% chance of failure within 18months. This example can be applied throughout the ranks.
businessWeek 10/10/2005
People resources are increasing more important. There are 120M U.S. workers. 77M are baby-boomers that will be retiring, while only 46M are genX and Y to fill their shoes. Higher Education needs to be a focus to allow this shortage of workers to be more productive and self-managing.
10% have an associate degree
20% have a bachelor degree
10% have a masters
or higher
http://nces.ed.gov/programs/digest/d05/tables/dt05_369.asp
Dr. Wayne Cascio reports in his textbook "Managing Human Resources" that 800,000 jobs are going unfilled. This alarming statistic relates to job recruiting, retention, attrition, immigration, outsourcing, and education! This is an alarming statistic. Although national unemployment is about 4%, this is the theoretical minimum which assumes that the remaining are generally unemployable, unmotivated, or geographically not matched for the job openings.
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