How Are Leading Organizations Evolving Their Succession Management Practices | i4cp

Succession planning is a top priority for many organizations. Still, we are often reminded how many executives fall short of performance expectations within 12-18 months of taking on a new role. As organizations look to build their succession pipeline faster and more effectively, this i4cp article shares six ways its member organizations are shifting their succession practices. These changes range from 1) shifting from 1:1 succession plans to talent pools to 2) moving away from using years (e.g., 1, 2, 3 years) to determine successor readiness, to name a few. Regarding “years” as a measure of successor readiness, I believe that one reason this measure has fallen short is that it is a general and often arbitrary measure that might not fully take into account what skills the successor needs to develop, the development tactics that will be used, and the time it will take to implement development plans. To help overcome this challenge, one option is to categorize successor readiness in terms of the “number of development moves away.” This approach emphasizes the critical experiences/development needed to speed up a successor’s readiness for the target opportunity and forces decision-makers to think more critically about the development that needs to take place. And with advances in talent intelligence technology, decision-makers can leverage these platforms to inform succession planning. Do you need to alter how you determine successor readiness? How will you be changing your succession practices in 2023 and beyond?