The Next Gen: Leadership Succession—What Do the Old Owe the Young?

Abstract

There’s a lot of talk about leadership succession in the nonprofit world these days as we of the baby boomer generation approach an ever-changing retirement age.  It’s a topic I’ve tried my best to avoid, since I’m sure I will live forever and be productive right up to the end. The problem is that’s also what many in my cohort think.

My generation wants to stay put. They don’t want to trade the fun of the game for a seat on the sidelines. They don’t want to sacrifice their salaries, status, and sense of self-worth. They don’t want to spend the rest of their years playing golf or bridge or poker, or driving the country in a Winnebago, or teaching reading at the neighborhood school, or babysitting the grandkids—all of the things their parents did in retirement. Moreover, even if these baby boomers wanted to retire, many can’t afford to. The Great Recession took a big bite out of their retirement savings, and their homes are worth peanuts.

I believe retirement is especially angst-producing for successful senior women. They were the pioneers—the first female in their industries, their companies, their organizations; many were the first career woman in their families. Their self-worth is wrapped up in their accomplishments, and their accomplishments are wrapped up in their careers. For these women, retirement is a non-starter: that was the consensus at a recent meeting on transitions sponsored by this region’s top women leadership organization, the Forum of Executive Women.