Succession Management: A Better Approach to Succession Planning

Due to technological and communications breakthroughs, globalization, and an increased emphasis on creating “lean enterprises,” a new organizational model is emerging—one that is significantly flatter and more efficient. In this new environment, it is no longer sufficient to plan for succession at the executive level alone. Organizations must also consider management and mission-critical roles, which are similarly crucial to organizational success and need to be integrated into a broader succession management strategy. This briefing, the first of two, examines current succession planning practices and discusses the steps organizations can take to develop a more strategic approach. It highlights how two leading Canadian organizations— CIBC and Delta Hotels—are implementing innovative, enterprise-wide practices and programs to effectively manage succession and keep their talent pipelines full and relevant.