Effective Succession Planning Requires Robust Talent Assessment

Financial Institutions

July 01, 2014
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The changing workforce and aging baby boomers are realities leading more clients to seek help in understanding which staff members will be able to fill key roles over the next five years. In addition, clients seek guidance on determining the depth of the talent pipeline. Succession planning is an important component of a company’s human resources strategy. More companies today are finding that their knowledge about talent is lacking and the pipeline may be inadequate. The key leadership questions being asked around talent assessment and succession are:
 
  • Do we have the right talent—with potential to move into the highest levels of leadership?
  • Are we focusing talent development on the right roles?
  • Are the views of the company consistent with the views and ambitions of the potential successor candidates?
  • How can we prepare and develop talent to be ready?  

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