Meet the requirement
of the Board of Directors and other stakeholders that
a leadership succession planning process is in place.
11.
Understand the hidden talents of
your leadership team to optimize their utility in day-to-day
projects and initiatives. This raises productivity for
the entire organization.
10.
Optimal deployment of leadership
talent creates a competitive advantage.
9.
Use this knowledge base to flex the
existing organization structure to the changing demands
of the marketplace.
8.
Extend the process quickly to collect
data for organization design initiatives to assimilate
new leaders post acquisitions and mergers.
7.
Robust "people data" is
very useful for downsizing situations - so the right
people remain in order to successfully rebuild.
6.
Have strategic staffing needs drive
the expenditures for executive education, thereby ensuring
a suitable return on investment
5.
Having the strategic staffing needs
of the organization drive people development efforts
ensures these efforts are truly meaningful in the eyes
of leaders involved in the learning, thereby making
executive education and development actually contribute
to retention.
4.
Provide a framework to improve organizational
culture by regularly and candidly discussing the strength
of the current leadership team and the leadership bench.
3.
Determine which specific key leaders
are at high risk of leaving and create strategies to
retain undesired losses.
2.
Predict which key leadership jobs
will become open in the next 12 months. Prepare replacements
with a sense of urgency or network for external replacements,
thereby saving search fees. In either event, reduce
problems associated with abrupt changes in key leaders.
1.
Exert appropriate management control
and proactively manage the process of having the right
leaders in the right place at the right time.
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