There is clearly no doubt a lack of succession planning in most of the Indian organizations and the need for awakening amongst the corporate is quite clear.
In an interview with Human Capital, C R Rajagopal, Partner, Deloitte Haskins and Sells highlights some crucial points on effective succession planning and its challenges…
Succession planning is necessary for a company to thrive following the departure of key talent, but it must be done in a way that does not discriminate.
There is nothing like this is the best way of doing Strategic talent planning. It is a continuous improvement process, the more you do, the more you realize you have a long way to go.
Some organizations are looking at current and future needs as the retirement of Baby Boomers lead to a potential talent shortage. But more can be done to ensure that organizations have the talent they need: SHRM-AARP poll.
Managing succession is the cornerstone of strategic viability, ensuring execution of business objectives, continuity of service, retention of high-value talent and a formidable culture.
Asked about his succession plan, the CEO of a major U.S. corporation recently responded that he carries in his pocket a paper with the name of who should be installed in his place if he is unable to continue.
Lack of succession planning at some of the biggest public companies poses a serious threat to corporate health, according to new research by executive search firm Heidrick & Struggles and Stanford University.
