Succession Planning & Succession Management
Few events carry greater risk to shareholder value than a change of leadership. So why do so many boards have an ineffective succession planning process or–even worse–no process at all for finding and preparing the next generation of leaders?
Our Succession Management consultants help organizations gain a clearer view of their talent at all levels, as well as what will be required to successfully deliver on their strategy. To close the gaps, they help design and implement differentiated and effective development strategies.
A complete view of the talent pipeline.
A proper succession strategy extends beyond the C-suite. Our powerful and proven talent review process creates a more complete view of the internal and external pipeline, and reveals how the organization’s succession planning is—or is not—producing the leaders it needs. We then help clarify, enhance, design, and build a more sustainable process.
Korn Ferry assessment and analytical tools help organizations know whether they have the talent they need to fuel growth and drive business performance, identify any weak spots in the future leadership pipeline, and provide research-driven insights into how to close the gaps.
Our flexible approach encompasses all phases of the succession process. At Korn Ferry, we:
- Start with an understanding of your business strategy, culture and context, so that we clarify the talent you’ll need for success.
- Provide an effective talent review process that enables you to understand your bench strength and create targeted development plans. This process has been used in thousands of groups and organizations around the world, at all levels.
- Build success profiles for critical roles—from the CEO to individual contributors—which describe the competencies, experiences, traits, and drivers required for future success.
- Identify and assess internal and external candidates, using our rigorous assessment methodologies.
- Create a development plan for the internal talent pipeline, involving on-the-job training, mentoring, feedback, and coaching, as well as formal academic and training programs.
- Implement a development plan specifically for your leaders at all levels.
- Transfer knowledge to sustain the succession planning process, and enable organizations to meet their succession needs.