Like many other program implementations inside organizations, succession planning will lack effectiveness unless it is deliberate and not isolated to the C-suite. Executive hiring and professional development have to be included in the process and utilized at all organizational levels.
Succession planning is inextricably linked and critical to winning the war on talent. The widening talent gap has U.S. companies fighting over “creative class” candidates who are drivers of innovation and the advancement. An effective means to continue to stream the next generation of leaders into the C-suite begins at the lower and middle levels of the organization. Succession planning and effective recruitment together can be a winning strategy that long term will out maneuver the competition.
There is an elephant in the management suite – an impending talent pipeline crisis.
The crisis doesn’t stop at the top. There is also a serious shortage of skilled workers for key positions, from maintenance positions to service technicians to nursing. The problem is only going to get worse. Succession planning needs more attention than lip service.
According to the by 2018, 1 in 4 workers will be over the age of 55. The need to build a talent pipeline is critical and the clock is ticking.
The process of building this pipeline is often called succession planning. Unfortunately the mere mention of succession planning infers senior leadership. At best it reaches down the ladder to management. But rarely do organizations identify critical key roles that left unfilled or filled with the wrong employee could cost the organization revenues and competitive advantage.…More at Succession Planning Crisis – An Elephant in the Management Suite …