Current Succession Planning Trends: Lessons Learned

While performance expectations for companies are increasing more than ever, talent mobility is also increasing at the same time and pace. Most companies with more than 500 employees have already taken some steps to begin a succession planning process for senior management positions. Yet have they been 100% effective at making sure that the right talent is ready at the right time? One of the key goals of any succession planning effort should be that there is no â€hiccup†in seamlessly executing the business plan, at least from a talent perspective.

Here are some lessons we have learned as succession planning practices mature that could be helpful to increase the effectiveness of your company’s succession planning efforts.

Lesson #1: Map succession planning as a parallel function to business growth
Without competent leaders in place, the business will struggle to meet goals. Typical organizational growth encompasses four steps to wealth creation:

1. 1. identification of business opportunity


2. 2. market assessment


3. 3. product development


4. 4. commercialization and profitability

1. 1. identification of potential talent


2. 2. leadership assessment


3. 3. leadership development


4. 4. executive placement and results

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