"The war for talent is more than just a slogan"
- www.shrm.org
July 2006 Benchmark Study by Aberdeen Group - 700 respondents across industries and all sizes of companies reveals that companies believe that succession planning has the greatest impact on improving retention rates over any other talent initiative- even greater than compensation and other incentives.
2006 SHRM Research Talent Management Survey - 384 HR Professionals across SHRM's membership were asked to identify the top areas in which their organizations needed improvement in talent management practices. Respondents reported that building a deeper reservoir of successors at every level was the area in need of the MOST improvement. Overall, less than 20% of respondents indicated that junior and mid-level employees are adequately prepared to step into senior leadership positions. This represents a big opportunity for HR professionals to take a leadership role in addressing this problem.
May 2006 White Paper by the Economist Intelligence Unit in co-operation with Development Dimensions International, The CEO's role in talent management -- 20 corporate leaders were interviewed. The white paper finds that management of a company's pool of talent is now too important to be left to the human resources (HR) department alone and has become the responsibility of the top executive. All of the executives interviewed say that succession planning is a crucial part of talent management, and that transparency in this regard motivates employees to perform at a high level, thereby fostering stability.
2005 CedarCrestone HCM Survey - Historically succession planning tools have failed to deliver. This study identified that Succession Planning applications have achieved the lowest ROI of all of the strategic HR application areas when compared to things like on-line appraisals and compensation applications. The survey of 340 respondents asked how many years the system had been implemented and how many had achieved an even ROI. Results showed that succession planning applications are still immature and only 9% of companies that have implemented have achieved ROI over the last 2.5 years.
"SP&M (succession planning and management) goes beyond simple replacement planning. It is proactive and attempts to ensure the continuity of leadership by cultivating talent from within the organization through planned development activities. It should be regarded as an important tool for implementing strategic plans."
William J. Rothwell, Ph.D. - Professor of HR Development on the University Park campus of The Pennsylvania State University and author of Effective Succession Planning, in its 3rd edition. |
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Why Halogen eSuccession?
- Halogen eSuccession is based on talent pools – a proven best-practice approach to succession planning.
- Halogen eSuccession makes it easy and affordable (even for smaller organizations) to realize all the benefits of talent pool based succession planning.
- It lets you implement succession planning in stages, so you can start reaping the benefits today.
- Halogen eSuccession leverages your employee performance appraisal process, so you never duplicate efforts.
- It gives you real-time reports on the status of your succession planning and talent pools.
- Like all Halogen products, eSuccession is easy to administer and use, and gives you valuable information you can act on.
