Latest News

Building Talent Pipeline Becoming Bigger Concern

As the global economy struggles out of the recession, business leaders must identify key positions, critical knowledge and skills, the talent needed to meet short- and long-term goals, and put in place a working process for developing and advancing employees in the succession pipeline. Yet, only 14 percent of companies say their succession planning efforts were successful to a high or very high degree.

Key findings of the survey:
>> 45 percent of the companies have a formal succession planning process in place.
>> 72 percent say succession planning addresses positions at the vice-president level.
>> 17 percent say they look externally to feed their succession pipeline to a high or very high extent.
>> 76 percent rely on nomination by a senior leader to guide the organization’s choice of potential leadership talent to a high or very high extent.

For more information on “Improving Succession Plans: Harnessing the Power of Learning and Development,” visit the Website www.store.astd.org. Source: American Society for Training & Development

---