Can your succession planning strategy survive the first engagement?

Posted on June 15, 2017 by BlueSteps Career Services
Article image: Can your succession planning strategy survive the first engagement

Succession planning is difficult and many organisations simply don’t do it, don’t involve the right people or don’t set it in train early enough to mentor those on the way up.

Soldiers often comment that no battle plan survives the first encounter with the enemy. The stakes may be vastly different, but the same can often be said of succession planning, where even well-developed plans don’t always result in success. Putting together a succession strategy that will stand the test of time—and reality—can be a challenge.

Succession planning is difficult for companies all across the spectrum. Too many organisations simply don’t do it, or don’t pursue it with enough vigour to develop a truly effective plan able to fill the void if one of their executives were to leave the company unexpectedly. In research conducted by Stanford University, 46% of companies reported they were not grooming a specific executive to succeed the current CEO. In fact, 39% said they didn’t have any internal talent ready to take over the leadership of the company.

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