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Succession Planning: Preparing Tomorrow’s Leaders
Cutting Edge Information, Sep 2011, Pages: 153
Chart an Effective Succession Plan
In the constant rush to execute day-to-day operations, corporate decision makers often push succession planning to the backburner. Recent studies show that a majority of companies either do not have a plan or do not update it regularly — leaving them vulnerable and unprepared for change.
Part of ongoing excellence, however, is resilience. Forward-looking companies see succession planning as an opportunity to reinforce corporate identity, elevate operational performance and ensure continuity. They recognize the link between organizational objectives and individual goals, and they understand how succession planning impacts the bottom line.
Designed for human resources and executive teams at companies of any size, industry or region, this report showcases succession planning best practices with real-world case studies and sample plans from 25 of the world’s top companies.
Absorb lessons from their triumphs and mistakes — and map a solid succession plan that positions you to meet tomorrow’s challenges head on.
Align succession plan with company values and goals: Create an integrated design team that translates priorities into key competencies — not only at the CEO level but in every role. Discover how succession planning helps teams meet concrete goals, and develop answers for multiple “what if” scenarios.
Attract and retain talent: At its core, succession planning is about leadership development. Adapt innovative models for assessing employee performance from leading companies’ approaches to professional development. See how planning helps to manage challenging transitions and the workplace generational gap.
Drive continuous improvement: As your company’s needs change, your plan should evolve. Gauge its effectiveness — see which measurements to track, incorporate feedback and avoid the five most common pitfalls of succession planning.
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