No matter how certain the future appears, succession planning is an essential part of doing business. It's easy to put off planning when everything seems to be going well, but now’s the time to begin.
Succession planning is the strategic, systemic, and deliberate process that identifies potential leaders and provides them with development opportunities needed to succeed. Keys to this process include the accurate assessment of long-term potential, identification of mission critical competencies, and talent development. We can help you every step of the way with research-based tools and resources.
Put your process in place now.
Research shows that there are four main causes for failed succession planning:
- An underdeveloped understanding of talent management
- A lack of skills on developing talent for future challenges
- Executives are not measured and held accountable to develop talent
- The talent review process in most organizations is narrow, invalidated, and not calibrated
Your future success depends on planning now. It’s vital to the success of the organization because the individuals identified will eventually be responsible for ensuring the company is able to tackle future challenges.
Find your future leaders.
We know which experiences and competencies contribute to successful leadership through research and experience. Organizations that effectively implement succession planning are rewarded with substantial ROI. They differentiate talent by identifying High Potentials, seasoned professionals, and solid performers. They also use robust development plans to maximize the value of their talent.
Korn Ferry Talent Review provides clients with a strategic, systemic, and deliberate process to identify potential leaders and provide them with the development opportunities they need to succeed.
Keys to this process:
- An accurate assessment of long-term potential.
- Identification of mission critical competencies.
- Talent development through strategic job assignments, target learning experiences, coaching, and mentoring.
The Korn Ferry Assessment of Leadership Potential provides organizations with the ability to objectively and accurately identify talent with high leadership potential. This easy-to-use, comprehensive assessment uses research to determine and measure the Seven Signposts of leadership potential.
Korn Ferry Leadership Architect™ can help you build leadership development plans, job profiles, and a consistent language of talent. Based on over two decades of research, Korn Ferry Leadership Architect™ allows you to identify the competencies your future leaders will need both specific to their roles, as well as on an organizational level. From there, identify competency strengths and weaknesses with our Voices® 360 online multi-rater assessment and begin creating development paths.
Competency Profile Manager (CPM), our web-based tool, can help you identify the right competencies for success, create the right competency profiles for jobs, job families, levels, company values, teams, and projects using pre-loaded research and expert-based profiles as building blocks. The right competency profile is often the first step in a successful succession planning program.