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Research indicates that, within five years, companies can expect to lose up to
50% of their executives. To make matters worse, there will not be enough
qualified individuals to fill these openings in the future. Are you prepared
for this talent shortfall?
Solution:
The purpose of this solution is to systematically align leadership
succession with longer-term, strategic business needs. This allows the
organization to develop the "bench strength" required to ensure leadership
continuity in key positions, retain and develop intellectual capital, and
encourage individual retention and advancement. Based on the organization's
vision and strategy, an assessment is made as to the key leadership
characteristics and positions critical for success. Next, a Talent
Management Plan is created to map out a series of
organization structure and leadership changes required over a three- to
five-year period. This Talent Management Plan is
reviewed on a periodic basis at Talent Review Meetings to make
strategic adjustments, as necessary. For internal executives identified as the
"leaders of the future," Action Plans are
created to accelerate their readiness for new and expanded roles.
Benefits and Outcomes:
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Aligning strategy with human resource requirements
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Identifying and developing internal "high-potential" talent to ensure
leadership continuity
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Systematically developing the "bench strength"/talent pools necessary for
long-term success
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Increasing the morale and retention of "high-potential" individuals through
increased opportunities and career path development
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Executing against a systematic and comprehensive Talent Management Plan
that delineates a three-to five-year plan for organization structure and
leadership changes
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Coaching of executives and "high-potential" individuals using results-based
Action Plans to accelerate readiness for new and
expanded roles
<< back to Organization-Level
Professional Solutions
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