According to a major new study published by the American Society for Training and Development in partnership with i4cp (Improving Succession Plans: Harnessing the Power of Learning and Development), a mere 14% of respondents describe their organizations' succession planning efforts as effective to a high or very high extent.

In other words, most think their company's efforts are mediocre or worse.

Why are they so cynical about the effectiveness of their succession planning programs? The answer is simple: It's because organizations are coming at the issue from the wrong direction. They too often assume succession is a planning process rather than a crucial dynamic management task that must be integrated with the rest of the talent management system (and, as part of the overall strategic planning process). 

Additional findings from the i4cp study:
  • Organizations are less likely to use true performance indicators such as senior management ratings, business outcomes, and performance appraisal scores, and they seldom hold managers accountable for succession planning metrics and results.
  • Only 30% say their organizations, to a high or very high extent, provide regular performance/development feedback to succession candidates, but a full 92% say their organizations should do so.
BOTTOMLINE:  i4pc recommends the following:  
  • If you don't have a formal succession program, seriously consider developing and implementing one. 
  • Measure effectiveness and hold managers accountable.
  • Do more to develop succession candidates. This seems to be an obvious strategy but many organizations fail to effectively accomplish this.
  • Align leadership competencies with the organization's overall objectives and business strategies.