Data Watch: Succession Planning
Recent SHRM research shows that business leaders are more certain about having a succession plan and following it when the time comes. HR professionals take a different view on succession plan development, usage and goals.
Succession Planning Differs for Executives, HR Professionals
Succession Planning Differs for Executives, HR Professionals
Recent SHRM research shows that business leaders are more certain about having a succession plan and following it when the time comes. HR professionals take a different view on succession plan development, usage and goals.
64% of HR professionals say that their organization has a succession plan in place or plans to develop one. This is compared to 97% of business leaders.
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HR professionals at small organizations (46%) are more likely to say that their organization doesn’t have a succession plan in place than HR professionals at medium (31%) and large (27%) organizations.
| HR plays a greater role in driving business decisions about succession pipelines at larger organizations. HR professionals at large organizations (64%) are more likely to say that HR staff drive decisions about who is included in their organization’s pipeline than those at medium (44%) and small (32%) organizations.
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Nearly all business leaders (98%) with a succession plan in place say that their organization often or always follows through with these plans, compared to 63% of HR professionals.
Only 2% of business leaders say their organization sometimes follows the succession plans in place, versus 30% of HR professionals.
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For HR professionals that say their organization doesn’t have a succession plan in place, the most commonly cited reasons for not having a plan include that their organization lacks the time and resources to develop one (31%), their organization is too small to have one (18%), and their organization is family-operated and owned (15%).
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According to HR professionals, the most important considerations that go into their thinking about succession plans include business performance (59%), impact of the role on organizational success (59%) and knowledge of organizational culture (50%). | |
According to business leaders with succession plans in place, the most important consideration that goes into their thinking about succession decisions is DE&I goals (61%), business performance (59%) and knowledge of organizational culture (41%). |
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