Interesting Study from Next Generation Advisory Services LLC

TRANSITION ADVISORY SERVICES

Next Generation Advisory Services LLC was formed by Tammy Erickson Associates and Discussion Partner Collaborative to assist corporations and executives approaching retirement achieve the most rewarding results during this challenging period.

Next Generation Advisory Services provides Transition Advisory Coaching to key executives and valued individual contributors approaching retirement. This service creates a pre and post retirement strategy to ease executive anxiety and maximize their performance. The benefits to the corporation are a realistic succession plan that avoids surprises, an engaged high performing executive and the opportunity to capture institutional memory and experience.

The creation of Next Generation Advisory Services was driven by Tammy Erickson Associates ground breaking research on the multi-generational workforce. This research clearly highlighted the looming crisis of the mass exit of the Boomer generation from the workforce. To deepen the understanding of this crisis Discussion Partner Collaborative, the parent company of Next Generation Advisory Services, conducted research with over 2,000 executives on the topic of retirement preparation and unearthed compelling findings:

  •  Over 90% of executives want to phase down to retirement
  • Over 80% are keeping their retirement plans to themselves as their companies do not have a phase down process in place
  • Over 70% of executives have no retirement plan beyond financial!
  • Over 85% of executives without a retirement strategy predict  that they will become distracted and disengaged the closer they get to retirement

These findings clearly reveal a wide gap between the executive’s readiness to retire and the corporation’s mandate to accommodate that retirement in an orderly and positive manner.

 As we emerge from the global recession, Boomer executives will resume their focus on retirement planning. Without a vehicle to explore executive retirement options the integrity of succession plans and development strategies, and the reputation of progressive employers are called into question. It is mandatory for the HR to assist executives to explore their retirement options in a thoughtful and open manner and align them with the needs of the corporation.

 The Transition Advisory model is a 4 month intervention focused on creating a pre and post retirement strategy for executives and valued individual contributors which would be updated on an annual basis before retirement. An added value of this service is the lessons learned during deliberations will enable the HR to both modify its portfolio of service offerings and create enhanced accuracy around the succession plan.

Next Generation Advisory Services (www.nextgenerationadvisory.com) is headquartered in Boston, but will have executive coaches and representatives across the United States. For further information please contact Tobey Choate or Tom Casey at NGAS 17 Arlington Street, Boston MA 02116 617-395-1642 x 701

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