Organizational Bench Strength and Succession Plans

1
Organizational Bench Strength and Succession
Plans
October 10, 2011
2
Comprehensive Succession Plan
A management development program that is
integrated with strategic business initiatives
and guides an organization in the
identification, development, and retention of
employees with the potential to fill key
leadership positions
3
Bench Strength
The depth of an organizations leadership
pipeline includes those employees who have the
potential, ability, training, and experience to
fill key leadership positions in the event of
expected or sudden senior leadership departures
4
Seamless Management Succession
Within an Organization
Is More Important Than Ever
5

• One in Five Companies Is Utterly Unprepared for a
  Sudden Loss of Leadership

6
Senior Leadership at Over Half of Companies is
Either Sporadic in its Commitment to or Just
Pays Lip Service to Succession Planning
7
Nearly One in Four Companies
Do No Succession Planning Whatsoever, and Just 8
Maintain Comprehensive Succession Plans
8
Which of the following best describes the
management of succession planning at your
organization?
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Companies Are Committed to Promoting from
Within but Their Leadership Pipeline Is
Running Dry
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Senior Management Often Ignores
Succession Plans to Recruit Key People from
Outside the Organization
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Implementing Succession Management
These three elements are key to an effective
succession process
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A Plan for Career Development

• Promoting and ongoing dialogue
• Avoiding the Peter Principle
• Instilling a coaching culture

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Analysis of Succession Needs
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Discussion, Consensus and Review
Driving strategy
Creating transparency and accountability