One-half of firms to lose at least one-fifth of executives by 2017

But two-thirds of employers lack succession plan, finds survey
By Amanda Silliker
|Canadian HR Reporter|Last Updated: 12/18/2012

As top senior executives prepare for retirement, Canadian organizations will be faced with a mass exodus of C-suite members over the next five years — and little has been done to fill the upcoming void, according to a survey.

Nearly one-half (44 per cent) of employers anticipate losing 20 per cent or more of their executive staff by 2017, found the Executive Outlook survey by executive search firm Odgers Berndtson.

“There’s a giant elephant in the room as it relates to the future availability of talent as we see a generation of baby boomers — which is unprecedented on the planet in terms of numbers and achievement — retiring over the next, literally, handful of years,” said Carl Lovas, chairman and CEO of Odgers Berndtson in Toronto.