Date Added: Jun 2010
According to this report, strong succession management and development practices translate into improved financial performance, productivity, quality, customer and employee satisfaction, and retention of quality employees. Take another statistic for organizations' top leaders: Only 50 percent of organizations have a process to identify high potentials, and just under 40 percent offer programs to accelerate leaders' readiness. When preparing business leaders for emerging opportunities and challenges, readiness is the operative variable. But ready for what? And once that question is answered, will one's internal leaders be able take on greater responsibility? Do one's incumbent senior leaders have the skills to groom emerging talent? How can organizations accelerate the development of this talent and shorten their time to full readiness?