Talent Pulse 2024 Unleashing the Power of Succession Planning: Why HR Cannot Afford to Wait

Unplanned vacancies in critical roles pose a significant threat to organizations. Without a clear succession plan, it is impossible to be prepared for what lies ahead. To future-proof themselves, organizations need to cultivate a pipeline of talent ready to take on critical, strategic roles when the time comes. They need a robust succession management plan.

Succession management is more than just filling gaps—it is about preparing people to be in the right places and giving them the skills to succeed. By aligning each step of your succession management process to your organization’s strategy, you can identify, assess, and develop the talent needed for future success and foster a culture where everyone can become the best version of themselves.

HR professionals are at the forefront of making this happen. You hold the key to not only maintaining but enhancing organizational performance through effective succession planning. But are you and your organization tapping into the full potential of this powerful process?

We surveyed over 360 HR professionals, delving deep into how they approach succession planning. We looked at what works, what does not, and how the best organizations—those we call High-Performance Organizations—set themselves apart. These insights will make you rethink your approach and give you actionable steps to refine your strategy.