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Succession Planning for Leadership Development

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A report on “Global Human Capital Trends 2014” (pdf) prepared by Deloitte, which surveyed 2,532 business and HR leaders in 94 countries concludes that the most important and urgent concern for HR professionals today is developing “leadership” pipeline to achieve strategic objectives. In fact, it has appeared as ‘highly urgent’ at number one in the list of concerns followed by ‘Retention and engagement’, and ‘Reskilling HR’.
The report states that “Building global leadership is by far the most urgent: Fully 38 percent of all respondents rated it “urgent,” almost 50 percent more than the percentage rating the next issue “urgent.” Companies see the need for leadership at all levels, in all geographies, and across all functional areas. This continuous need for new and better leaders has accelerated.”
Now, as an HR professional we have two choices available, first, recruiting from other organizations and second, proactively develop leadership pipeline. We may also look at it as make v/s. buy…