Building External Succession Plans
Succession Planning isn’t always a case of promoting within your business. External talent can play a major part in the future success and development of your organisation.
Recent global economic shocks have exposed the weaknesses in some leaders and in succession planning. Traditional leaders used to hierarchical structures or with autocratic leadership styles have failed to retain a strong company culture in the hybrid world. This has led many organisations to urgently review and renew their current and future leaders.
How we help
Building External Succession Plans
With only 34% of CEO’s believing that there is an adequate succession plan for their role, major organisations are pledging to do better and invest in succession planning strategies. Leadership risk and succession is persistently in the top 3 concerns for CHROs across the globe, and investment in building more robust pipelines of leaders is increasing exponentially.
It is also a fact that over two-thirds of succession planning processes in larger organisations neglect the external market, meaning most are missing out on the next generation of talent. Are you?
At Armstrong Craven, we provide our clients with a detailed, birds eye view of the whole talent market, bringing together internal and external data to give a complete picture of the landscape of potential talent for any leadership role.
The benefits of building external succession plans
Build the best team for the future
By ensuring you know exactly what talent exists for any role, you can be sure that your efforts to hire the best leaders are laser focussed
Improve leadership diversity
Understanding the gender, ethnic and socio-economic mix of the talent pool of internal and external potential future leaders allows you to focus diversity efforts on those roles where representation is strongest
Manage Risk Better
Building external succession plans reduces risk as you have an up to date view of potential talent and can significantly shorten hiring cycles, so mitigating the risk of having executive roles unfilled.
Make careful and considered decisions about senior appointments
By having an external succession plan, when a key member of your senior team leaves, you no longer have to settle for the talent available - allowing your business to hire better talent when you need it most.
The benefits of Building External Succession Plans
Build the best team for the future.
By ensuring you know exactly what talent exists for any role, you can be sure that your efforts to hire the best leaders are laser-focused.
Improve leadership diversity.
Understanding the gender, ethnic and socio-economic mix of your potential future leaders allows you to focus diversity efforts on those roles where representation is strongest.
Manage risk better.
Building external succession plans reduces risk as you have an up to date view of potential talent and can significantly shorten hiring cycles, so mitigating the risk of having executive roles unfilled.
Make careful and considered decisions about senior appointments.
By having an external succession plan, when a key member of your senior team leaves, you no longer have to settle for the talent available - allowing your business to hire better talent when you need it most.
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info@armstrongcraven.com
+65 6983 5968
Armstrong Craven Pte Ltd O2Work, Income@Raffles 16 Collyer Quay, #12-19 Singapore 049318
Geneva
info@armstrongcraven.com
+43 (0) 216 37 33
1 Rue du Pré-de-la-Bichette Nations Business Centre 1202 Genève Switzerland
If you want to learn a little more about what we do and how talent research can help you make better-informed business decisions, our team of talent research and consulting specialists are happy to help.
