While a succession plan can provide a safety net in the face of unforeseen events, no succession plan is completely foolproof, warns consulting firm Cutting Edge Information.
According to new research, companies must continually assess and develop their succession plans by putting methods in place that measure the success and improvement systems that are currently in place.
"When an organization goes to choose performance measurements, first steps are to identify desired outcomes and then select metrics that correctly assess progress toward those outcomes," said Jason Richardson, president of Cutting Edge Information. "Using these types of major performance measures can help executives and human resources teams develop executive talent and improve succession planning."
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
