'We believe it is critical for a board to manage the succession of executives in a structured and measured way, especially in these uncertain and volatile times'
Financial markets and shareholders care about long term business continuity, meanwhile the workforce needs a strong commitment from their employer in order to manage their career aspirations.
A recent study conducted by Eric Salmon & Partners on large corporations has shown that many companies have a structured succession planning process with clear accountabilities and rules, but in less than 50% of the cases, they are able to fulfil an internal role identifying the individual from the role pipeline. Clearly, this suggests that the effectiveness and governance of the succession planning process is not performing optimally and there is significant room for improvement.
Moreover, as organisations are moving to more complex matrices, in many cases they fail to manage and implement the success planning process consistently for a lack of integration or decisiveness.
Through our succession planning offering, we serve our clients as trusted advisors to improve the effectiveness of the succession planning and the impact on the business, assessing the readiness of the management, preparing the right pipeline for each critical role and designing consistent career and development paths to support the growth of the successors. By partnering with you in this critical area, we can create a more sustainable path for employee engagement, retention and productivity. We do this by understanding the organisation’s strategy, culture and needs, utilising our strong market and people knowledge skills built within the Executive Search field with strong and grounded methodologies to assess and evaluate people.
For more information on this capability, contact one of our consultants for an initial discussion.