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IT Management Slideshow: Succession Planning: A Corporate Time Bomb

By Dennis McCafferty  |  Posted 06-06-2011
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Succession Planning: A Corporate Time Bomb

31%31% of respondents say their company doesn't have a succession planning program.
If you left your organization, who would replace you? The answer to this question is too often unknown. A recent survey from CareerBuilder reveals that many companies these days aren't paying enough attention to succession planning. In fact, there really isn't a designated successor for the highest-level positions within a large number of large businesses. The adverse impact of this lack of planning can be considerable: decreased productivity, weakened financial performance and an absence of strategic direction. While many survey participants blame the recession for the inattention here, managers need to start looking ahead in more proactive fashion, according to the research. "As the economy gradually improves, it's important for organizations to proactively plan for the future of their businesses," says Jamie Womack, vice president of corporate marketing and sales training at CareerBuilder. "Having a blueprint on who will succeed management at all levels is a critical facet to your overall strategy. It ensures that your organization will be able to tackle future challenges and compete in your industry." Nearly 1,100 employers at organizations with more than 1,000 workers took part in the research. Here are seven highlights:
 
 
Dennis McCafferty is a freelance writer for Baseline Magazine.
 
 

 

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