As many firms rethink their approaches to succession planning (SP), this article provides a few ideas to consider. Although the article is on CEO succession, many insights apply to SP in general. The authors, David Reimer and Adam Bryant, point out how boards often fail to pick the best CEO candidate because they focus on the wrong criteria. They …
This i4cp article looks at six ways its member organizations are shifting their succession management approaches to better align with a new world of work. These changes include shifting from 1:1 succession plans to talent pools, and moving away from using years (e.g., 1, 2, 3 years until ready) to determine successor readiness, to name …
Many workers want flexibility in where, when, and how they work. This shift has led firms to adopt flexible work arrangements, such as hybrid and remote work. And while these work arrangements bring benefits to those whose jobs lend themselves to these forms of flexibility, there is also concern that hybrid and remote work can …
With the profound changes in the workplace and business environment, boards are likely to focus more on CEO succession in a post-pandemic environment. A few reasons driving this renewed focus include 1) In 2020, 56 S&P 500 CEOs resigned— with 20% doing so under pressure, up from 13% the year before. 2) The average CEO tenure continues to fall, 3) The skills …
I have previously posted various reports suggesting that firms will find their CEO and C-suite succession bench at risk once they enter a full recovery from the pandemic (see one of these posts here). Behind this risk is a perception that a segment of C-suite incumbents and potential successors have been “riding out” the crisis at their …
I have posted previously about various reports suggesting that firms will find their CEO and C-suite succession bench at risk once they enter a full recovery from the pandemic (see DDI and strategy + business). This HBR article suggests that many large firms can fuel their leadership pipeline through four areas. 1) Purposefully identify and develop your rising stars by …
Organizations envision a “return-to-work” in closer sight as more people continue to get vaccinated for the coronavirus. Alongside this sentiment comes reports warning firms they may find their CEO and C-suite succession bench at risk once they enter a full recovery (see DDI and strategy + business). One reason cited is that a segment of C-suite incumbents and …
This DDI report, in partnership with Josh Bersin, summarizes best talent practices and provides key trends to guide the future of leadership. Each section has two parts: 1) data and conclusions, 2) potential actions. While the report’s findings are too numerous to summarize, one clear theme is that firms will need to develop leaders prepared to lead in an environment of …
Before COVID-19, the notion of work-life balance seemed unattainable for many executives consumed by their roles’ demands. But as the pandemic has led many executives to recapture aspects of their life (family, friends, health, etc.), many of them have reevaluated their work-life priorities. As vaccinations get deployed, and firms increasingly envision return-to-work plans, organizations will …
As the sense of urgency intensifies for better diversity and inclusion outcomes, many organizations continue to develop and implement new ways to diversify talent pipelines for senior roles. And while not a magic bullet, one practice that firms are leveraging in this regard is: sponsorship. Sponsorship within this context refers to “a helping relationship in which …
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