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11 February 2015 / Article
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Copy LinkTo successfully address future business challenges, companies need to invest time and resources in their succession management plan. This doesn’t mean merely determining who will take over next. It also includes making sure anyone on the short list has adequate skills to do the job, especially since the skills of the past will be obsolete. Therefore, organizations need to be strategic about how they plan for future leadership—they need to identify high performers early in their careers, use predictive analytics, prepare leaders through experiential learning, and use alternative approaches to their current succession management process.
To successfully address future business challenges, companies need to invest time and resources in their succession management plan. This doesn’t mean merely determining who will take over next. It also includes making sure anyone on the short list has adequate skills to do the job, especially since the skills of the past will be obsolete. Therefore, organizations need to be strategic about how they plan for future leadership—they need to identify high performers early in their careers, use predictive analytics, prepare leaders through experiential learning, and use alternative approaches to their current succession management process.
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