Russell Reynolds Associates: Inefficient Succession Planning Holds C-suites Back
Collaborative efforts, accountability, and future-oriented thinking are essential for the success of C-suite executives. To ensure the continuous growth and relevance of the leadership team, it is crucial to establish a strong and diverse succession pipeline that actively engages potential successors.
Russell Reynolds notes that "nearly half of board directors (49%) describe their organization’s succession planning as proactive, which is notably higher than the number of CxOs who agree (19%)."
In the article, there is an emphasis on the need for organizations to prioritize and invest in robust succession planning processes. Currently,
- Next-generation leaders lack confidence in the succession process
- Organizations are missing successor growth and development opportunities
- Succession planning misalignment creates risk