Aging workforces and populations are a global trend. This shift calls into question the effectiveness of prevalent human capital approaches. The graphic perfectly illustrates the trend’s effects through 2025:

Only 35% of companies conduct rigorous Succession Planning exercises and they are "flawed" utilizing the arbitrary age of 65, and ignoring the aspirations of incumbents for actual date of retirement and/or gradual phase down to retirement. This will require enterprises to challenge many assumptions around work to be done vs. time dedication to accomplish initiatives.

The creation of a work force plan  is sporadic in most companies and misguidedly focuses on the question "who do we have" instead of, "do we have the best in the marketplace and if not where can we secure the necessary talent"? NGAS research indicates the absence of comprehensive Workforce Planning is a huge liability impeding business growth.

Compelling Need to Align Staff with Business Strategy

As businesses change and position themselves for future growth, there is a critical need for disciplined development of staff to manage what are becoming more complex environments. Companies need to recognize that shifting demographics and declining staff engagement before the global recession compels a new way of planning for the future worker, and workforce.

Human Asset Sustainability (inclusive of comprehensive succession and workforce planning integrated with pre-retirement planning for executives).