Leadership Succession Planning Framework
The Copenhagen Compliance® succession planning road
map is a structured, robust and healthy leadership talent development tool.
Together with the roadmap it delivers a pipeline of qualified internal candidates
for possible promotion with significant GRC responsibility as a bonus component.
Just as a critical job of the Board
of Directors is the performance and succession of the CEO's task to guide,
coaching and provide the obligatory performance review to the senior management.
Both the Chairman of the Board and the CEO together with the senior management
team is responsible to develop a succession plan for the organisation
for the following reasons:
- Secure a smooth transition from one leader to the next
- Companies suffer the succession process is weak or non-existent
- Poorly planned successions often result in significant damage to
share price and reputation
Leadership talent process and pipeline. Some of the examples of bad succession
planning can be seen in e.g. The Citi Group where three outside CEOs failed
in a row. Hewlett-Packard has a revolving door succession policy. British
Petroleum continues to be at the bottom of the share price pyramid compared
to its competitors. Results from some recent surveys that can provoke
priority:
- Robert Half; 55% of the top 200 UK companies do not have a succession
plan
- Korn-Ferry; Internal candidates for CEO, executive and senior management
positions, are twice as likely to deliver superior performance, and
remain on the job far longer, than those recruited from the outside.
- Heidrick & Struggles; Less than 50% of CEO's state that they have
a strong leadership talent pipeline.
- Stanford Graduate School of Business; Succession planning and internal
talent development translates directly into future shareholder/stakeholder
value.
The Copenhagen Compliance® succession planning road map is a structured,
robust and healthy leadership skills development tool that provides a
pipeline of internal candidates with significant GRC responsibility as
a bonus component of the internal leadership talent process and pipeline.
