People Matter
CEO Succession Planning Succession planning is good for business
Terri Bresenham, Co-Founder, Forte Health Advisors Former, CEO, GE Healthcare, Sustainable Healthcare Solutions (Bangalore) I’ve always believed a hallmark of
the reason, consider why embracing
an exceptional leader was the calibre
succession is good for your business
of talent they’d attract, and how well
and your career.
their direct reports got developed, promoted and made an impact. A talent pipeline and succession strategy are not just a CEO’s obligation, it should be viewed by the CEO as the lifeblood of an organisation’s sustainability and agility; its fuel for the future. But there are many reasons organisations, and
customers
and
investors.
According
to 2020 data, over 65 per cent of CEO successions came from internal candidates. of
a
Even
pandemic,
in
the
internal
disruption talent
is
still preferred. The exception is in a distressed or turnaround situation. In
and don’t invest in carefully thinking
these cases, an outsider’s perspective
through their succession needs. Maybe
can be more advantageous. So, if most
succession planning is a low priority
CEO successions are home-grown, what
where you work since it’s beyond the
are some of the guiding principles to
quarterly pressures. Or perhaps it’s
ensure success?
process can overshadow succession’s strategic
October 2021
to the overall success of the business,
their leaders, don’t create a great bench
primarily an HR led concern where the
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CEO succession is particularly critical
element.
For
some
CEOs,
For me, there are many factors to consider, but here are two critical ones:
maybe it’s their fear of being replaced
P Future Needs Assessment
that keeps the topic muffled. Whatever
P Succession Accountability
