While 62% of employees claim they would be significantly more engaged if there was a documented succession plan, only 35% of organizations have a formalized succession planning process. At the same time, 84% of organizations expect a leadership talent shortfall in the next 5 years. Without a clear talent review and development approach, this could harm your ability to take your organization to the next level. (Talexes.com and ATD)
The expected shortfall in talent, particularly leadership talent, over the next 5 years is raising the need for organizations to be thoughtful and deliberate in their talent review and succession planning efforts. Leaders often have a preliminary picture of succession in their minds-eye. But this approach may not align with the reality of employees’ true skillsets, their desire for new opportunities, or the true future needs of the organization. Our team will partner with you to develop a structured approach to talent review that can adequately replace the ad hoc approaches most often used. We will help you engage and align your managers to fully participate in determining a solid talent review process and succession planning effort.