Succession Planning as a Necessary Process in Retaining Gen Y Workforce in UAE - Example

The paper 'Succession Planning as a Necessary Process in Retaining Gen Y Workforce in UAE" is a good example of a management capstone project. As a subset of United Arabs Emirates’ labour force, the Baby boomer age group continues to report high turnover rates as they retire from work. The wave of retirement from the executive management or strategic positions in enterprises in the country is heading towards its crest. In the UAE, the current demographic trends of the entire labour force show a highly aging population of the Baby boomers and the entry of Gen Y workforce in a tight labour market (Lim 87; Lim et al 267).

Additionally, these enterprises have been facing budget cuts since the 2008-2009 Financial Recession. Much of their focus has been to cut down on operational cost. An immediate outcome has been the elimination of key administrative positions as they have lacked funds to sustain vacancies they expect to occur after the resignations and retirements of the Baby boomers. Due to fewer options for promotion and on-the-job training from the more skilled yet retiring works, the new generation of workers, or the Millenials, may not be able to gain critical expertise or knowledge. However, as Lim (88) comments, enterprises that take proactive action in implementing succession planning strategies may develop future leaders and talented employees to give their organisations a competitive edge in the face of rising competition due to globalisation.

• • 1.1. Background of the Problem

Enterprises operating in the United Arab Emirates (UAE) are investing huge amounts of time and money in building and implementing leadership and employee development programs to maintain a steady talent workforce (Lim 85; PricewaterhouseCoopers 1). However, current business organizations are presently encountering difficulties in sustaining talents, leadership, and productivity because of the changing demography of workers and attitudes towards work. As predicted by PWC (2015), the situation is likely to worsen in the foreseeable future.