Most succession plans at major corporations are failures, at least according to the senior executives who closely examine such plans.

Korn Ferry surveyed senior managers and leaders at a wide range of organizations on the topic. The word from the field was pretty clear: 64 percent indicated varying degrees of unhappiness with the succession strategy in place where they work.

Meantime, 77 percent said their company did not have a "ready now" pipeline of talented professionals to move up the pipeline as needed.

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Dan Cook

Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.