Tammy Erickson Associates and Discussion Partner Collaborative Announce a New Joint Venture
Next Generation Advisory Services, LLC Focuses on a Unique New Path to RetirementMay 29, 2012 - Tammy Erickson Associates (TEA) and Discussion Partner Collaborative (DPC) have formed a joint venture -- Next Generation Advisory Services (NGAS) – which is focused on creating a new path to retirement. The new subsidiary provides transition advisory coaching to corporate executives who are approaching retirement, as well as innovative succession planning approaches to corporations.
“My colleagues and I are delighted to pair our knowledge of innovative talent management practices and succession planning approaches with Discussion Partner Collaborative’ s established network of senior coaches”, said Tammy Erickson, President and Founder of TEA. “Creating Next Generation Advisory Services will be advantageous to both individual executives and corporations. TEA is looking forward to getting involved in this interesting work.”
“In addition,” Erickson added, “I am personally delighted to be working closely with two individuals I have known, trusted and respected for many years: Tom Casey, head of DPC, and Tobey Choate who will be the managing partner of NGAS.”
The creation of NGAS was driven by TEA’s award-winning research on the multi-generational workforce and specifically, on the need to re-think traditional approaches to retirement, as well as DPC’s study of over 2,000 executives on the topic of retirement preparation. This work uncovered two serious interlocking concerns: most companies have poor visibility into their future succession pipeline and lack the resources to work with C-suite executives in exploring retirement or deceleration options appropriate for the needs of today’s Boomer leaders.
Among the compelling findings from the DPC survey:
- Over 90% of executives want to phase down to retirement – rather than experience the abrupt end that has characterized career transitions in the past
- Over 80% are keeping their plans to themselves because their companies have no phase-down options available – often rendering the company’s succession planning information inaccurate or incomplete
- Over 70% of executives have no plan for ways to stay active and engaged as they phase out of fulltime work responsibilities – and yet most will have roughly thirty years of healthy, intellectually capable time to fill
- Over 85% of executives without a deceleration strategy predict that they will become distracted and disengaged the closer they get to retirement
“As we emerge from the global recession, Boomer executives are already rekindling their desire to explore ‘what’s next,’” said Tom Casey, Managing Principal of DPC. “To maintain the integrity of our succession plans, calibrate our development strategies appropriately, and enhance our reputation as progressive employers, it is essential for companies to provide senior executives with a vehicle to assist in exploring their retirement options.”
Tobey Choate, managing partner of Next Generation Advisory Services, added, “Combining forces with Tammy Erickson Associates allows us to successfully provide executives and HR leadership with a tool that supports developing retirement options in a thoughtful and open manner, and aligning these options with the needs of the corporation. We look forward to working with the TEA team.”
NGAS’s Transition Advisory Service is a four-month engagement, focuses on creating a pre- and post-retirement deceleration strategy for individual executives, while sharpening corporate succession planning and improving a company’s future pipeline predictions.
For further information please contact:
Tammy Erickson Associates, based in the Boston area, explores organizational change, develops unique insights, works in partnership with businesses to disseminate and leverage new ideas within their organization, and offers a specific set of hands-on services that help re-shape key organizational practices.
Discussion Partner Collaborative and its affiliates have over 200 consultants in 20 cities worldwide. They work with global clients ranging from the Fortune 500 through start up organizations. Current clients include 43 of the Fortune 100. DPC consultants share a commitment to effective and efficient enterprise human capital practices in pursuit of organizational success….the concept of Talent Readiness. Next Generation Advisory Services (http://www.nextgenerationadvisory.com) is headquartered in Boston, but will have executive coaches and representatives across the United States.