New Research on Growing Executive Talent

Posted on June 7, 2008
Filed Under Executive Leadership, Succession Planning |

Despite the importance of succession planning, new research is showing that a majority of corporations aren’t taking the time to establish comprehensive, long-term business continuity planning.

From the Taleo Research Blog:

“Development Dimensions International (DDI) with the Economist Intelligence Unit (EIU) recently published Growing Global Executive Talent which points out that talent awareness is not enough. Immediate action is required according to the more than 400 executives polled. 55% felt that business performance would likely suffer due to a lack of talent.”


According to DDI Global, “Around the world, a talent crisis is looming. Global companies are aware that they need to improve their ability to find and develop better executives—and it must happen soon—or business performance will suffer. Yet awareness of the problem is not resulting in actual progress toward resolving it.”

A new survey by Aberdeen, The Looming Leadership Void: Identifying, Developing, and Retaining Your Top Talent, surveyed more that 9000 organizations and found that less than half have a succession plan in place, but nearly 2/3 are planning to develop on in the next year.

The report states:

“Baby boomers are leaving the workforce in greater numbers and creating the largest potential leadership void in history. Aberdeen’ s study of more than 9,000 organizations reveals that less than half have a succession planning strategy today.”

The report offers the following suggestions for successful plan development:

Does your company have a succession planning strategy in place? We recommend the following steps:

  1. Assessment of strategic leadership needs
  2. Assessment and benchmarking of current leadership competencies
  3. Engineering and execution of the plan
  4. Continuation of dynamic, on-going updates

For more information on succession planning strategies, click here.

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