Tags: succession plan

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This Is No Joke! What Makes Best-in-Class Companies So Much Better?

This is no April Fool’s Day joke! Nearly four times more employees “exceed expectations” in Best-in-Class companies (the top 20%) than Laggard companies (the bottom 30 percent.) And more than 7 times the hiring managers are satisfied with new hires after one year in Best-in-Class organizations. What do best-in-class do differently? One thing is they […]

The 7 Most Common Reasons Why Succession Plans Fail

Faced with changing demographics and skilled worker shortages, many companies will be unable to fill job openings from the CEO to the technician. “The Perfect Labor Storm” has already crippled many organizations. Despite over two decades of warnings about the need to plan succession, many companies have ignored them. In a recent survey by Institute […]

7 Reasons Why Your Succession Plan Will Fail

Succession planning is a process whereby organizations ensure that employees are recruited and/or developed to fill each key role within the organization. (Source: State of Iowa Workforce Planning). The objective of succession planning is to ensure that the organization continues to operate effectively when individuals occupying critical positions depart. If you agree with this definition, that’s great news […]