Succession Management

Why Succession Management

September 4, 2019July 1, 2020
Why Succession Management

The sustainability of an organization depends largely on the ability of its leadership team. Basis of our experience of working with clients, here is why succession management is important.

  • Larger organizations with operations across multiple industries require leaders with broader experiences
  • The growing global presence of organizations, requires leaders who can operate across cultures
  • Elimination of middle management results in fewer developmental jobs
  • Promotions now result in larger, faster changes in responsibility
  • Higher levels of employee movement between companies make retaining talented employees more difficult. Easier identification and poaching of talent by competitors increases the risk of talent defection
  • The shift towards a knowledge economy makes human capital a critical component of competitive advantage
  • Diversity is playing a growing role in organizational workforce strategy
  • The retirement of the baby boom generation will contribute to an executive talent shortage in the coming years