Your Guide to a Comprehensive Succession Planning Strategy
Next Steps
Strategic succession planning is an ongoing process, not a one-time project. Plan for at least a two- to three-year timeline to fully integrate these practices into your talent management cycle. The time investment will depend on your organization's current state of maturity with respect to talent management processes and practices. Start with your most critical roles—typically in the C-suite—then expand as your strategy matures. Review succession plans at least annually, tracking key metrics like internal fill rates and slate diversity to demonstrate progress and ROI. Most importantly, don't overlook the value of development opportunities, especially for your high potentials and succession candidates.
Organizations around the world turn to Hogan to bring clarity and confidence to succession management. Our data-driven approach helps leaders plan with objectivity, align on criteria for success, and develop successors with intention. With science-driven personality assessments, you'll gain a deeper understanding of leadership potential, readiness, and risk, and you'll ensure the right people are in the right roles at the right time.
References
- Fernández-Aráoz, C., Nagel, G., & Green, C. (2021, May). The High Cost of Poor Succession Planning. Harvard Business Review. https://hbr.org/2021/05/the-high-cost-of-poor-succession-planning
- Rosenthal, J., Routch, K., Monahan, K., & Doherty, M. (2018). The Holy Grail of Effective Leadership Succession Planning: How to Overcome the Succession Planning Paradox. Deloitte Insights. https://www2.deloitte.com/content/dam/insights/us/articles/4772_Leadership-succession/DI_Succession-planning.pdf
- Neal, S., et al. (2023). Global Leadership Forecast 2023. Development Dimensions International. https://media.ddiworld.com/research/glf2023.pdf
- Cheng, J. Y., Groysberg B., & Healy, P. (2020, May 4). Your CEO Succession Plan Can't Wait. Harvard Business Review. https://hbr.org/2020/05/your-ceo-succession-plan-cant-wait
- Keller, S. (2018, May 23). Successfully transitioning to new leadership roles. McKinsey. https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/successfully-transitioning-to-new-leadership-roles#/