Training Industry Magazine - Summer 2022 - 27
50% to 70% of executives fail within
18 months of taking on the role,
regardless of whether they were an
external hire or promoted from within,
according to research from the
Corporate Executive Board (CEB).
According to DDI's Global Leadership
Forecast 2021, " Leadership bench
strength hits an all-time low. In
2020, only 11% of human resources
professionals said they have a strong
enough bench to fill leadership roles. "
The costs are staggering according to
HBR: " Many large companies fail to pay
enough attention to their leadership
pipelines and succession
practices.
That leads to excessive turnover at the
top and destroys a significant amount
of value-close to $1 trillion a year
among the S&P 1500 alone. "
Generally, the succession process
focuses on two key areas:
Identifying critical job roles that
need filling
(C-suite, executives,
etc.), as well as other jobs essential
to the business, (sales, research and
development, technology experts,
production, customer services,
marketing, logistics, maintenance,
etc.). In performing this step, there
is consideration for: Evaluating the
importance of each role, establishing
timelines for the urgency of
replacement candidates, alignment
and balance of key leadership
strengths on the respective teams
and identifying niche skills unique to
the organization.
Understanding the existing talent
bench strength of individuals. This
review is based on skills, experience,
education and performance ratings.
Next, determine how to develop
existing talent to meet future
succession needs to establish a
strong pipeline.
The problems with succession planning
arise in key area number two, where
the ingredient to accurately identifying
authentic leader talent falls short.
Identifying current talent based on
an
inventory
education
and
of
skills,
training
experience,
without
a
validated assessment tool does not
Inherent personality risk factors, or
ineffective coping behaviors under
stress and conflict, so that effective
development plans can be formulated
to help candidates minimize their risks.
When scientifically validated assessment
tools for employee selection screening
are used to identify talent, this assures
that jobs are filled with the best
fits and that people are developed
congruently with their strengths and
talent. The same objective data should
be part of succession planning. There
are additional considerations in the
succession planning process, such
as competitive forces; external talent
availability; business strategy; diversity,
equity and inclusion (DEI); finding
hidden talent for upskilling; technology
and retention.
provide a clear picture of the true talent,
skills gaps and capability of a leader.
There are simply too many blind spots
and subjective data points used in the
evaluation process. While these limited
inputs are part of the overall process,
there needs to be an upfront measure
of each individual's potential using
validated assessments to measure:
In-depth personality characteristics,
(Big Five) traits and vocational
strengths.
Intrinsic motivators to align future
roles with one's passions, values
and interests.
This " top to bottom " approach is just that.
This means that all executives, even the
C-suite, leaders and employees should
be assessed and developed according
to their own true talent, gifts and needs.
This also provides key insights to identify
the traits of executive positions that need
to be filled in the future. It is important
to gain a clear reading on where the
executive talent and bench strength
exists today. By assessing and analyzing
the current individual executive profiles
and team profiles, organizations can
ascertain what gaps, lopsidedness or
obstacles may exist that need to be
addressed to reach future performance
and succession planning goals.
Talent diagnostics and key positions
mapping happens next. During this
process, it is important to identify
misplaced or misaligned executives
and talent and then to creatively design
and recommend options to connect
these leaders with more suitable roles
and responsibilities. After key mapping
and assessments are administered to
respective employee groups, next
is
A strategic succession planning approach
that utilizes deep-dive assessments,
analytical capabilities, forward thinking
and a transformational approach prepares
all levels of leadership for a far improved,
competitive future of positive returns and
for enterprise-wide, inclusive leader and
talent development. A strategic approach
to succession planning involves an all-in,
" let's get this done " attitude with buyin,
ownership and transparency, top to
bottom. This is to maximize measurable
success and accelerate performance
results and sustainability of leadership
bench strength and growth.
TRAINING INDUSTRY MAGAZINE - SUMMER 2022 I WWW.TRAININGINDUSTRY.COM/MAGAZINE
to begin filling pipelines and having
respective leadership teams focus
on developmental planning for the
various levels of employees. This
requires involvement of leadership
teams cascading down throughout
the organization to focus on the
development of their employees.
Coaching and development are
critical components to enterprisewide
strategic succession planning
processes. This includes assessing
and debriefing the C-suite members
with their own assessment results for
two reasons: One, for improved selfawareness;
and two, to gain better first|
27
https://www.businessinsider.com/reasons-executives-fail-2015-3
https://www.prnewswire.com/news-releases/new-ddi-study-reveals-leaders-are-struggling-with-burnout-which-could-create-retention-issues-301229724.html
https://www.prnewswire.com/news-releases/new-ddi-study-reveals-leaders-are-struggling-with-burnout-which-could-create-retention-issues-301229724.html
https://trainingindustry.com/wiki/performance-management/the-big-five/
https://hbr.org/2021/05/the-high-cost-of-poor-succession-planning
https://www.trainingindustry.com/magazine
Training Industry Magazine - Summer 2022
Table of Contents for the Digital Edition of Training Industry Magazine - Summer 2022
Harnessing Curiousity in Today's Workplace
Table of Contents
Optimize Your Performance With These Sport Psychology Tactics
Learning Management Systems Need to Go Beyond "Management"
Designing Training for Behavior Change is Like Fine Dining
Diversify Your Leadership With an Inclusive Succession Plan
The Science of Building a More Creative and Innovative Workplace
Digital Solutions to Improve the Assessment Experience
The Power of Personal Presence
Coconut Pie and Succession Planning
Multiplying Experts and Expertise in an Enterprise
Using Empathy to Better Understand Your Customer
Designing Training Programs for Behavior Change
Creating the Virtual Watercooler Experience
Chaos Is Here to Stay: Why Building GRIT is Vital for Executive Success
Beyond the Smile Sheet: Measuring Level 1 to Improve Learning Design
Disruption Is Your Friend
Recalibrating Careers
Why Aren't Mental Health Offerings Helping Our Workforce?
Cornerstone and Edcast Consolidate to Reimagine People Development
Company News
Training Industry Magazine - Summer 2022 - Intro
Training Industry Magazine - Summer 2022 - Cover1
Training Industry Magazine - Summer 2022 - Cover2
Training Industry Magazine - Summer 2022 - CT1
Training Industry Magazine - Summer 2022 - CT2
Training Industry Magazine - Summer 2022 - Harnessing Curiousity in Today's Workplace
Training Industry Magazine - Summer 2022 - 4
Training Industry Magazine - Summer 2022 - 5
Training Industry Magazine - Summer 2022 - Table of Contents
Training Industry Magazine - Summer 2022 - 7
Training Industry Magazine - Summer 2022 - 8
Training Industry Magazine - Summer 2022 - Optimize Your Performance With These Sport Psychology Tactics
Training Industry Magazine - Summer 2022 - 10
Training Industry Magazine - Summer 2022 - Learning Management Systems Need to Go Beyond "Management"
Training Industry Magazine - Summer 2022 - 12
Training Industry Magazine - Summer 2022 - Designing Training for Behavior Change is Like Fine Dining
Training Industry Magazine - Summer 2022 - 14
Training Industry Magazine - Summer 2022 - Diversify Your Leadership With an Inclusive Succession Plan
Training Industry Magazine - Summer 2022 - The Science of Building a More Creative and Innovative Workplace
Training Industry Magazine - Summer 2022 - 17
Training Industry Magazine - Summer 2022 - 18
Training Industry Magazine - Summer 2022 - 19
Training Industry Magazine - Summer 2022 - Digital Solutions to Improve the Assessment Experience
Training Industry Magazine - Summer 2022 - 21
Training Industry Magazine - Summer 2022 - The Power of Personal Presence
Training Industry Magazine - Summer 2022 - 23
Training Industry Magazine - Summer 2022 - 24
Training Industry Magazine - Summer 2022 - 25
Training Industry Magazine - Summer 2022 - Coconut Pie and Succession Planning
Training Industry Magazine - Summer 2022 - 27
Training Industry Magazine - Summer 2022 - 28
Training Industry Magazine - Summer 2022 - 29
Training Industry Magazine - Summer 2022 - Multiplying Experts and Expertise in an Enterprise
Training Industry Magazine - Summer 2022 - 31
Training Industry Magazine - Summer 2022 - 32
Training Industry Magazine - Summer 2022 - 33
Training Industry Magazine - Summer 2022 - 34
Training Industry Magazine - Summer 2022 - Using Empathy to Better Understand Your Customer
Training Industry Magazine - Summer 2022 - 36
Training Industry Magazine - Summer 2022 - 37
Training Industry Magazine - Summer 2022 - Designing Training Programs for Behavior Change
Training Industry Magazine - Summer 2022 - 39
Training Industry Magazine - Summer 2022 - 40
Training Industry Magazine - Summer 2022 - 41
Training Industry Magazine - Summer 2022 - Creating the Virtual Watercooler Experience
Training Industry Magazine - Summer 2022 - 43
Training Industry Magazine - Summer 2022 - 44
Training Industry Magazine - Summer 2022 - 45
Training Industry Magazine - Summer 2022 - Chaos Is Here to Stay: Why Building GRIT is Vital for Executive Success
Training Industry Magazine - Summer 2022 - 47
Training Industry Magazine - Summer 2022 - 48
Training Industry Magazine - Summer 2022 - 49
Training Industry Magazine - Summer 2022 - Beyond the Smile Sheet: Measuring Level 1 to Improve Learning Design
Training Industry Magazine - Summer 2022 - 51
Training Industry Magazine - Summer 2022 - 52
Training Industry Magazine - Summer 2022 - 53
Training Industry Magazine - Summer 2022 - 54
Training Industry Magazine - Summer 2022 - Disruption Is Your Friend
Training Industry Magazine - Summer 2022 - 56
Training Industry Magazine - Summer 2022 - 57
Training Industry Magazine - Summer 2022 - 58
Training Industry Magazine - Summer 2022 - Recalibrating Careers
Training Industry Magazine - Summer 2022 - 60
Training Industry Magazine - Summer 2022 - Why Aren't Mental Health Offerings Helping Our Workforce?
Training Industry Magazine - Summer 2022 - Cornerstone and Edcast Consolidate to Reimagine People Development
Training Industry Magazine - Summer 2022 - Cover3
Training Industry Magazine - Summer 2022 - Cover4
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_summer2024
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_spring2024
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_winter2024
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_fall2023
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_summer2023
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_spring2023
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_winter2023
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_fall2022
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_summer2022
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_spring2022
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_winter2022
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20210910
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20210708
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20210506
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20210304
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20210102
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20201112
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20200910
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20200708
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20200506
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20200304
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20200102
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20191112
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20190910
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20190708
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20190506
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20190304
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20190102
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20181112
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20180910
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20180708
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20180506
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20180304
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20180102
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20171112
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20170910
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20170708
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20170506
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20170304
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20171112_se
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20161112
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2016fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2016summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2016sales
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2016spring
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2016winter
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2015outsourcing
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2015fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2015summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2015leadership
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2015spring
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2015winter
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2014fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2014summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2014spring
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2014winter
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2013fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2013summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2013spring
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2013winter
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2012fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2012summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2012spring
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2012winter
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2011fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2011summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2011spring
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2011winter
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2010fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2010summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2010spring
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2010winter
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2009fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2009summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2009spring
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2009winter
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2008fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2008summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2008spring
https://www.nxtbookmedia.com