An active approach to succession planning and development is critical to business success and allows new generations of talent to emerge in the workplace.
Leadership experience, and specifically C-Suite talent, is in short supply. The average tenure of executive leaders is declining, and a new generation of talent is stepping into leadership roles much earlier and with less experience. Executives and boards are now required to build succession plans that are broader and deeper than ever before.
Organizations need to connect their executive succession planning and talent strategy to their business strategy and remove the risks associated with attracting and retaining the best talent. They also need a partner that can deliver objective insights about the talent pool and design practical tools for ongoing talent development. Odgers Berndtson is that partner.
Succession planning helps organizations close the talent gap by:
Our succession planning and development approach
The Odgers Berndtson model offers a rigorous and tested approach for developing and implementing succession planning throughout the organization. During the process, two critical business needs are concurrently addressed. The first is to define the organization’s leadership requirements both today and in the future. The second is to assess incumbents’ abilities against the desired leadership competencies and close any of leadership gaps through real-time development and coaching. These steps pave the way for the creation of a credible succession plan.