Succession Management on the Rise
January 9th, 2006CLO reports that companies are doing less recruiting, preferring to develop high-potential employees with an understanding of the company culture as the pool of promotion-ready managers dwindles.
Almost eight out of 10 (77%) companies said they do not have enough successors to their current senior-level managers already working in their organizations – raising a pressing need to develop or acquire their next generation of leaders.
43% of companies are providing the necessary developmental training and coaching to their high-potential employees so they can acquire the requisite skills to become senior-level managers, according to the Right Management survey of human resources managers at 168 companies nationwide. 39% of companies are promoting their now-ready executives to higher management.
Fewer companies are hiring senior-level executives from outside their organizations. Only 29% are hiring executives currently at the same level as those they need away from their competitors, 27% are hiring executives with the skills and experiences they want from businesses other than their competitors, and 20% are hiring upper management from completely outside their industries.
We have tools to help you:
- Assess and track the qualities that have been most effective for success – in each department, and company-wide.
- Assess the vitality of the company culture, and the compatibility fit for managers and executives.
- Identify and develop high-potential employees for upper-level positions.
