Effective Succession Planning is Hard to Come By

Most companies aren’t executing succession-management plans well, according to a study by DDI and Chief Executive magazine of 1,200 senior executives in the United States.

Seventy-three percent of respondents said that “defining the skills, experience and attributes required for successful senior leadership is important.” Still, only 22 percent say their company has a highly effective system for doing it.

Some companies blame the lack of available talent for not implementing their succession plans. DDI says these promising employees are often working at the company but have not been identified. “Organizations will find more success developing leaders from within the organization than from bringing individuals in from the outside,” says DDI’s Matt Paese.

More information on workforce planning is available online.