HIGHLIGHTS FROM THE RESEARCH:
The most common reason HR professionals give for not having a formal succession planning process is because it's not an organizational priority (51%). In a few cases, organizations may have such a quality and depth of talent that succession genuinely does not need not be a priority. It's probably more common, however, that organizations don't know how to run a succession program well enough to be confident that it is worth doing. In some cases, respondents reported that their leaders are not supportive of succession planning or that they feel constrained by governmental regulations. A lack of resources is not usually a problem. Relatively few say that succession programs cost too much time or money.
Over three-quarters of respondents (78%) say succession management will become more important in the next three years, and 68% believe it will become broader in scope (i.e., more key positions across the organization). Today, for example, organizations with succession management programs are most likely to focus on director-level and above positions. However, many (52%) also incorporate other managerial positions into their plans. Few, however, include professional positions (24%). In the future, more employers may incorporate key professional and even technical positions into their succession programs.
One of the starkest differences between effective and less effective programs is in defined processes. Only 15% of HR professionals in organizations with less effective succession planning say their processes are well defined, compared with 72% of those with effective programs. Another striking finding was that fewer than half (45%) of HR professionals from organizations with less effective succession planning have senior management support, compared to 89% with effective programs.
To learn more about The State of Succession Management 2019 and to get 8 key takeaways from the study, please read the full research report and infographic here:
