Our Insights on Succession Management

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Our Insights on Succession Management

Given the challenges so many organisations are facing globally, Somerset House Consulting would like to share some global best practices for effective succession management – a topic that has become even more pronounced given the global pandemic.

Research into succession management suggests that Global Top Companies focus extensively on the following:

  • Identification of a leader’s current performance versus his/her future potential
  • Development of high-potential (or equivalent) pools of candidates
  • Assessment of potential for advancement
  • Assessment of leadership skill gaps
  • Identification of which jobs / roles are critical to the future success of the organization
  • Preparing workforce plans (e.g., 3 – 5 years in advance)
  • Identification of internal successor pools (e.g., high potential)
  • Development of successors for specific positions

In relation to this, organisations need to ask a number of critical questions:

  • Who in your organisation has strategic capability?
  • Which employees and managers have the potential to lead your organisation in the future?
  • Have you crafted a comprehensive succession management plan?
  • Do you understand the difference between technically strong employees versus future leaders at the next level?

Somerset House Consulting embraces a holistic approach to assessing employees’ ‘strategic potential’, and we do so using sophisticated and powerful assessment tools that match current employees to future requirements.

These tools enable your organisation to:

  • Select managers and leaders into their organisations
  • Understand their internal capability i.e. developing capability scorecards
  • Understand their bench strength
  • Develop succession pools
  • Develop potential-performance matrices
  • Select young talent with the propensity to be leaders

For more information on our ability to help you with your success management please email: info@somersethouseconsulting.com