Four Steps for Using AI and Machine Learning for Succession Planning

Today, organizations across the globe are faced with an alarming reality: in the very near future, a significant number of senior leaders will hit average retirement age. According to the Pew Research Center, 10,000 baby boomers per day are turning 65 in the US alone. A vice president of human resources, realizing that 75% of the senior leaders in his large global manufacturing company are less than five years away from the average retirement age, described the situation as watching "a train wreck about to happen." It is not unusual for organizational leaders to find themselves with no particular idea as to who the future leaders will be, what the criteria is to select them, and how to prepare them for their future roles. Part of the problem is the sheer number of leaders that must be groomed for leadership positions.