Rothwell & Associates and Halogen Software’s unique succession program assessment tool helps organizations of all sizes to measure their succession program effectiveness against standard best practices. And despite the recognition that succession planning is critical to a successful talent management program, only 23 percent of organizations have implemented a succession program and over 70 percent of these programs fail. Halogen’s assessment program examines 20 criteria to determine the effectiveness of a company’s succession strategy.
“After working with hundreds of organizations on their talent and succession planning programs we know the benefits of a successful program are broad — from reduced time to fill critical positions and reduced turnover costs, to cost improvements in developing high potentials and enhanced competitive advantage,” said Dr. Rothwell, President of Rothwell & Associates. “However many organizations are still not setting proper goals, accountability or success criteria for their programs. So we were eager to team with Halogen Software because their talent management solutions incorporate what we consider to be best practice for succession planning, and we wanted to create something meaningful for companies worldwide to leverage.”
These 20 key criteria are tied to several succession planning effectiveness dimensions including:
• How well an organization identifies its needs, links needs to goals, and links goals to an overall strategic vision (identification).
• How well an organization uses identification to assess needs and promotion potential (assessment).
• How well an organization works to shrink development gaps and develop talent pools (development).
• How well an organization apprises management at all levels of progress and encourages participation in succession planning programming (management).
“Just a quick glance at the latest C-level or Board-level research shows that corporate leaders are still very concerned about developing and retaining top talent, and building a pipeline of future leaders,” said Paul Loucks, CEO of Halogen Software. “Delivering this succession assessment as a resource for any C-level executive, board member or HR leader to use, is a milestone on our journey to help organizations worldwide build an engaged and competitive workforce.”
A complimentary succession self-assessment is located here.