Succession planning has often been an activity fraught with pitfalls and difficulties.
In small and medium sized organisations, time and resources are often under pressure and therefore succession planning is often left until it’s too late. Consequently, counter offering a leaver is seen as a viable option to gain six months before inevitable replacement.
In large organisations with well-developed talent management functions, succession planning can be plagued with other issues such as shear size, visibility, political manoeuvring, hording (line management not wishing to lose talent to other parts of the organisation), silo’s, language issues etc., and that is before we even come to culture differences in new acquisitions.
There are many good articles and books out there that talk about the how’s and why’s of succession planning and I won’t repeat them here, suffice to say, a clear and effective talent management policy around succession is as essential now as it ever was and those academies of excellence such as GE, IBM, Honeywell, P&G etc remain successful.
However there are two significant issues that affect all major corporations irrespective of how good their internal talent management function is.
The first is maintaining bench strength in senior leadership. Think of it this way, company A has a relatively young CEO with a great track record. She has a reputation attracting great talent to her team, however top talent usually comes with a side order of ambition. Consequently, unless the CEO has laid out a clear plan to exit, the team become frustrated and impatient and listen to other opportunities as they are presented to them. Even if the CEO has an exit plan and an anointed successor, the other team members may quickly exit leaving the successor with sizeable holes in their board. These holes need to be plugged quickly.
The second and perhaps more significant issue that many large well-established organisations face, is competition from the highly disruptive, fast moving tech sector. How do you change the focus of a major corporation using internal talent that views the world through their traditional corporate frame? In a world of increasingly flexible work forces, how flexible are major corporations?
So, in addition to developing a robust and diverse internal talent pool, organisations increasingly find that they need to develop an external talent pool of motivated, engaged and culturally aligned individuals that can be called in at short notice. Of course, corporations that need to change direction fast, need to look beyond the usual competitors to understand the kind of talent that will allow them to stay relevant in a fast-changing landscape.
JordanSheppard have been listening to these concerns from CEO’s and CHRO’s for many years and have been helping their clients to develop live and active talent pools to assist these corporations through transformation and change. We have developed not only a highly proactive methodology to identify and profile outstanding and diverse talent but in addition, we have developed a platform that delivers that information digitally in a precise and targeted manner.
For a discussion and a WebEx demonstration of how we do this, please contact Mark Pennington at +44 1625 540077 or email