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Talent and Succession Strategy

Many organisations talk about succession planning.  We prefer to focus on succession management.  That is, the active and purposeful managed development of your top talent using an approach that is aligned with the your organisation's business strategy and future leadership requirements.

  • Are you a member of a Board, Executive Committee, or Senior Manager group that is responsible for managing your top talent and succession management
  • How do you identify who comprises your top-tier of talent? 
  • How do you assess their readiness for their next role?
  • Are your top-talent members on a planned development program, or is that aspect left to the latest training brochure that covers your desk? 
  • Do you know who the successors are for various roles, how far they are away from consideration, and what they need to do to fill the gap?

 

These are all questions that should be in the minds of Board members and Corporate Leadership teams.  Having had experience as a global Head of Talent and Succession, and having completed a Harvard Business School program in this discipline, Denis Bourke is well placed to provide valuable advice and assistance in this regard.

The Corporate Executive Board defines a high-potential employee as someone who is capable of rising to, and succeeding, at a more senior, critical role.  An employee’s potential is defined in terms of their personal aspiration, functional ability, and engagement.

High-performance individuals, are recognised as leaders in their field at an organisation and industry level, and regularly outperform their peers in all aspects of financial, technical and human resource management.

Do you, your Board and your senior management team want to attract and retain high-potential/high-performance individuals to your organisation?  Without question - and in order to reach this goal, you must establish a credible program that is based on a sound strategic base.

 

The CED talent and succession strategy approach aims to achieve:

  • A congruent talent management strategy that aligns with your business drivers, operational environment, and future top-tier talent needs;
  • Enhanced executive level and senior management team capability, both for now and in accordance with your emerging needs;

  • Strong visible bench strength that contributes to a robust succession plan; and,

  • The attraction and retention of key talent that is required to deliver on your business strategy.

A key element of any successful business in a competitive labour market is how that organisation develops and nurtures its key talent.  Your Board and your organisation's Executive leadership team compete for talent with other like-minded organisations.  However, those with a well constructed strategy that is readily implementable and aligned to a well constructed business strategy are more likely to succeed than those organisations that don't give this important aspect of organisational life the consideration that is required. 

 

Contact Denis Bourke now at denis@ced.com.au, or on +61 (0)425 224 943 for an appointment that could lead to a change in the way you manage your most precious resource.