Aligning the talent development and succession planning processes: don’t allow critical leadership talent to fall by the wayside

Abstract

Purpose

Organizations need to take a holistic view of their talent management programs, and it’s no longer sufficient to simply look at the top layers of leadership (succession planning). High potentials need to be identified early and customized plans put in place to ensure that their development is aligned to the business strategy.

Design/methodology/approach

Based on a global study commissioned by Korn Ferry and conducted by Hanover research during August and September 2014. The survey covered 54 countries globally and companies ranging in size from 500 to 50,000+ employees. It generated more than 1,000 responses from business leaders at the following levels: C-suite (41 per cent), VP/SVP/EVP (42 per cent), Director (11 per cent) and Other (6 per cent).

Findings

Only one third of those surveyed reported they are satisfied with the outcomes of their succession programs and the majority end up recruiting externally more often than they would like to obtain the talent they need. Analysis of current versus future skills requirements is rarely done and promotions are awarded on current performance rather than future potential. Development plans are not differentiated neither are they dynamically managed. A structured and systematic approach is needed, starting earlier in employees’ careers to ensure those who have the greatest potential are ready when they need to be.

Originality/value

Organizations typically recruit externally more often than they would wish. This article, through analysis of the survey results, highlights the need for a more holistic approach with early intervention and differentiated development.

Citation

Newhall, S. (2015), "Aligning the talent development and succession planning processes: don’t allow critical leadership talent to fall by the wayside", Development and Learning in Organizations, Vol. 29 No. 5, pp. 3-6. https://doi.org/10.1108/DLO-04-2015-0043