Succession Management

Jesse Hopps

Sustainable Leadership for the Future

Talent is a scarce resource. The level of competition and generational shifting of the leadership pool has made it increasingly difficult for organizations to find the quantity and quality of leaders needed to ensure success. At the same time, the torrid pace of change in the marketplace is making for an uncertain future, leaving many at a loss as to who they should even be looking for in the first place. With so much uncertainty, it will come down to much more than simply starting up the recruiting engine and interviewing new candidates. The war for talent will be won by companies that are able to identify their most critical roles based on the future vision of the business, determine if and how the existing leadership mold needs to be re-cast, and build the means of both finding and developing the right people for the job. This study of over 260 organizations looks at how the Best-in-Class build and manage their succession bench to produce better results today and mitigate risk and uncertainty in the future.

Featured Insight of the Day

The use of skill-based assessments, competency-based assessments used to measure gaps, and talent profile repositories can be extremely valuable in sizing up current talent and juxtaposing it against that future vision of the business. But more than anything, the use of these tools makes a powerful statement about the need for data capture and visibility. A strategic approach to succession can’t leave anything to hunch. By leveraging scientific methods to assess high-potentials, and using automated techniques to capture talent and company data, Best-in-Class companies are able to make more informed succession decisions that are more relevant to the business. See figure 8: Most Differentiated Enablers by Best-in-Class.

How Demand Metric Can Help

If you need to improve your leadership capabilities and get started with Succession Management, check out the following templates:

Succession Management Planning Template

Marketing Key Skills Assessment

Management and Leadership Metrics Dashboard

Management and Leadership Audit

Learning and Development Plan

Performance Review Template

Next Steps?

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