*Next Generation, Next Destination* A Business Case
Is your organization building The Boomer Bridge™ between senior partners' next career-life move and the next generation's preparation to lead?
What are the costs of doing nothing?
- How much does the firm lose when a retiring partner fails to transition a client to other partners? $_______
- Do you know how much turnover is costing your firm in dollars and client dissatisfaction (which translates into dollars)? $_______
- How much does it cost the firm when younger partners, impatient to take on more control, walk out with experience, energy and client contacts? $_______
- How much is senior partner goodwill worth? $_______
- How can you maximize ROI on training for young partners?
Ask yourselves these questions:
- How many senior leaders and client relationship partners will be retiring from the firm over the next 10 years?
- What are the financial and capabilities impacts to the firm when you lose those individuals' knowledge and contacts?
- What actions are you taking to retain knowledge and client relationships in your firm?
- Is there a formal coaching or mentoring strategy in place to cultivate and continually increase the value of your firm's professionals?
- What strategy and processes does your firm have in place to ensure there will be seasoned, experienced leaders and managers in the pipeline?
Today's successes and organizational pressures can distract from transitioning planning - the business strategy that assures long-term talent productivity and goodwill. Don't let the urgent result in neglect of the important.
Transitioning and reinvention is the new retirement.