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Only 16% of Directors reported that their board is effective at succession planning*

Succession planning is a vital element in every successful HR strategy. Statistics have shown that even successful companies with a focused structure need to ensure the presence of a succession planning programme in the event of unexpected senior level departures.

In recent years many companies have recognised the requirement for succession planning and realised that a sound programme will allow them to plan ahead by creating the potential to fill key leadership positions in an orderly and controlled manner.

Any organisation will greatly benefit from effective succession planning which means building a series of feeder-groups up and down the entire leadership pipeline. Clear objectives are critical to establishing effective succession planning and our organisation can help with this.

Outsourcing your talent banking for succession planning to an Executive Research company will not only ensure the availability of experienced and capable candidates but will also eliminate the risk of certain unrest within the workplace and with shareholders when a member of the senior management team decides to depart.

Your economic analysis team cannot always plan for the unknown but with a robust contingency plan in place your organisation will be in a position to withstand surprise departures at senior level without major disruption.

Fundamental to the succession planning process is an underlying philosophy that talent must be managed for the greater good of the enterprise.

* Statistics taken from National Association of Corporate Directors.