Magazine article Talent Development

Who's Next?

Magazine article Talent Development

Who's Next?

Article excerpt

"Expect the best, plan for the worst, and prepare to be surprised."

--Denis Waitley

How many companies heed that statement when it comes to talent management and succession planning? As the economy shows signs of recovery, employees are reassessing their current jobs, and many are beginning to search for new opportunities.

It's time to ask whether your company is ready to replace high-potential talent. And according to a recent ASTD survey, probably not. While most companies cited the importance of having a succession plan, ASTD data finds that more than half of all organizations do not have a succession planning implementation strategy in place.

Succession planning has become a hot topic in companies because preparing high-potential employees for leadership roles in the future is imperative if a company wishes to sustain growth. A football team would never go into a game without a plan for how to beat the opponent. Why then would a company fail to create a plan for future leaders, especially with the complexities of the changing workforce? …

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