\"The Challenges of Succession Planning in Turbulent Times\" Please respond to t
ID: 459204 • Letter: #
Question
"The Challenges of Succession Planning in Turbulent Times" Please respond to the following:
Analyze this scenario: The Department of Social Services has lost 25% of its federal funding for the next fiscal year, leaving the budget at a $128,000 deficit. Within the agency, there are 125 full-time employees; the average pay for all employees is $39,000, 75% female and 25% male. In addition, 25% of employees have been with the agency for over 20 years, 20% are near retirement age in three years, and 50% are under the age of 30. Recommend three innovations to implement a succession plan for the agency.
Explanation / Answer
For an organization like this which is facing turbulent times, as it is already experiencing deficit and budget cuts, and above all this, around 20% of its employees are due to retire within 3 years. Hence, the Department of Social Services needs to plan and implement some succession planning strategy in order to perform in the long term.
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