| Ready, willing, but not able
SuccessFactors surveyed 139 HR executives with responsibility for resourcing, talent development and recruitment across a range of industry sectors. Seventy six percent of all companies in the survey were found to have some kind of succession plan in place, yet forty percent of companies lacked any process or capability to identify future talent. Only thirty percent of organisations actually support their succession management process with some form of technology. “Global companies are embracing succession planning as part of their overall talent management strategies with great enthusiasm, in fact it is becoming a top priority for those looking to accelerate and extend their growth,” said Lars Dalgaard, founder and chief executive officer for SuccessFactors. ”As we all know, employee turnover within organizations does occur but easy-to-use technology is available for organizations to proactively respond. By not putting the mechanisms and tools in place, future leaders cannot be identified, and the impact of the business can be disastrous. We advise companies to first take inventory of their talent, and routinely re-visit the process to ensure succession decisions are based on clear, accurate, up-to-date data. This ensures a higher degree of success.” Well-developed succession planning processes increase the retention of superior employees because they recognise time, attention and skill development is being invested in them for the purpose of career development. When you continue to challenge and reward talented employees, you eliminate their need to seek opportunities elsewhere.
•Date: 26th August 2008• Region: UK •Type: Article •Topic: BC general
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