Listen to Business Execution Radio Episode 123
Andrew Munro, Director of AM Azure Consulting reviewed a 10 year research study looking at the impact succession management had on business performance of over 60 large organizations. Succession management was associated with business success, but not in the way you might think. Using formal succession methods like competency models, nine box reviews, and leadership training programs had no relationship to business performance. In contrast, active leadership involvement in talent discussions, coaching and development of employees, and focus on building succession for technical roles all had a significant impact on business outcomes.
Andrew notes that it is not having the tools that make succession work, it is how the tools are used. Companies often fool themselves by putting succession tools in place and falsely thinking they’ve created effective succession management. To learn what makes the difference listen to Andrew Munro, this week on Business Execution Radio.