Succession Planning Example
The top twenty executives at your company have predominantly been in their roles for ten years or more. It’s clear executive turnover is on the not too distant horizon. Still, you have limited ready now successors identified or even a game plan for mapping your talent to future critical roles.
Bold Road works with you to roll-out a succession planning program that will identify and develop the next generation of senior leaders. We start with an analysis of the skills and competencies needed over the next three to five years. From there we look for employees at your company that have the potential to grow into these roles.
These high potential employees are then hand-selected and developed to be ready when the time comes to assume senior roles.
- Do your key executive positions have ready now successors identified?
- Have you rolled out a top talent program to prepare the next generation of leaders?
- Do your high potential employees see tangible career paths to reward their performance?
Having the right talent in the right roles today is critical. But what about tomorrow? Who is in line to take-on the most challenging roles when current leaders change jobs or leave the company. Succession planning is critical to continuity in your business and Bold Road can help you roll-out a customized, best-in-class program.
At best-in-class companies…
- 66% of open positions have at least one ready and willing successor identified
- 55% integrate succession planning directly into their business planning cycle
- 77% have automated processes for executives to review high potentials progress
Typical Services Include:
- Creating a top talent program to identify and develop your most valuable assets for increasingly senior roles.
- Mapping your current talent to future roles to identify landing spots for high potential employees and technical specialists.
- Scoping available technologies to guide the process of automating some or all aspects of the succession planning process.