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.
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.