An everyday guide to succession planning for organizational success
According to a DDI survey, only 44% of HR professionals reported their companies had formal processes for identifying and developing employees with leadership potential, and only 18% reported having enough bench strength to meet their companies’ future needs.
With the looming retirement of the baby boomer generation and the global competition for talent, succession planning is a top priority for Human Resources departments. In order to remain competitive in today’s marketplace, organizations need to proactively identify, engage and develop their talent so that they are ready when succession plans have to be executed.
The need to match talent to both current and future business needs is a critical component of a successful business strategy. Organizations’ capacity to drive performance centers on their ability to have the right talent in the right place, at the right time. Usually Right Now!
This paper reviews: