Getting more leaders is hard enough, but the job skills needed are changing, too

In the changing global economy, knowledge needed by leaders and management teams will come from direct, experience-based learning, says Scotiabank president
By Rick Waugh
|Canadian HR Reporter|Last Updated: 01/27/2004

D

uring the next decade, employers will face a leadership and management gap. Not only in terms of the actual leaders available, but also gaps in the development of leadership skills necessary in a changing business world.

In 2003, the oldest baby boomers turned 57. That means Canada’s leaders are aging. In the public service, more than half of the executive group were 50 years of age or older in 2000. In the next five to 10 years, many of those individuals will be retiring. At Scotiabank, about half of our leaders — vice-presidents and above — will be leaving during that time frame.