CEOs, Boards and HR Leaders Now Have an Easy Way to Measure Succession Planning Effectiveness
12 Jun, 2013, 08:30 ET
Self-assessment tool from Halogen Software and succession expert Rothwell & Associates helps organizations benchmark their succession program to overcome common challenges
OTTAWA, June 12, 2013 /CNW/ - More than 70 percent of succession programs fail according to research from leading expert and renowned author on the subject, Dr. William J. Rothwell. With this high failure rate in mind, leading talent management vendor Halogen Software has teamed with Rothwell & Associates to create a unique succession program assessment tool. The assessment allows organizations of all sizes to measure their own program effectiveness against established best practice, and help ensure a roadmap to success.
"After working with hundreds of organizations on their talent and succession planning programs we know the benefits of a successful program are broad — from reduced time to fill critical positions and reduced turnover costs, to cost improvements in developing high potentials and enhanced competitive advantage," said Dr. Rothwell, President of Rothwell & Associates. "However many organizations are still not setting proper goals, accountability or success criteria for their programs. So we were eager to team with Halogen Software because their talent management solutions incorporate what we consider to be best practice for succession planning, and we wanted to create something meaningful for companies worldwide to leverage."
While succession planning is seen as critical to the success of a strategic talent management program, research shows few organizations are doing it well. A 2011 survey from the Society of Human Resource Management (SHRM) found that only 23% of organizations had implemented a succession program, with only one third of these organizations evaluating their programs yearly.1
"Just a quick glance at the latest C-level or Board-level research shows that corporate leaders are still very concerned about developing and retaining top talent, and building a pipeline of future leaders," said Paul Loucks, CEO of Halogen Software. "Delivering this succession assessment as a resource for any C-level executive, board member or HR leader to use, is a milestone on our journey to help organizations worldwide build an engaged and competitive workforce. We're proud to be partnering with such prominent experts as Rothwell & Associates to give these organizations a framework to get started with strategic succession planning, and a process to measure, review and evaluate success."
Based on years of research and real world analysis, the succession assessment surveys organizations on 20 key criteria which are tied to the following succession planning effectiveness dimensions:
- Identification: How well the organization has identified its needs, linked needs to goals, linked goals to strategic vision.
- Assessment: How well the organization has used the identification pieces to assess their needs, assess individual/department promotion potential.
- Development: How well the organization has worked with individuals to shrink development gaps, and moved forward in helping each area develop talent pools.
- Management: How well the organization has actively kept senior management, department level management, and individuals apprised of progress, encouraged active participation in succession planning programming, and evaluated the program and then responded to needed changes.
View a sample detailed insights chart from the succession assessment report:
Interested participants can take the complimentary succession self-assessment at: http://www.halogensoftware.com/resources/succession-assessment/ and get access to a custom report and deeper insights on their responses.
The succession assessment will also be showcased at the SHRM Annual Conference and Exposition in Chicago June 16-18, 2013 at Halogen's booth #941.
About Halogen Software
Halogen Software offers an organically built cloud-based talent management suite that reinforces and drives higher employee performance across all talent programs - whether that is recruiting, performance management, learning and development, succession planning or compensation. With over 1,750 customers worldwide, Halogen has been recognized as a market leader by major business analysts and has garnered the highest customer satisfaction ratings in the industry. Halogen Software's powerful, yet simple-to-use solutions, which also include industry-vertical editions, are used by organizations that want to build a world-class workforce that is aligned, inspired and focused on delivering exceptional results. For more information, visit http://www.halogensoftware.com. Subscribe to Halogen Software's Exploring Talent Management blog:http://www.halogensoftware.com/blog/ or follow Halogen Software on Twitter: https://twitter.com/HalogenSoftware .
1 SHRM Poll, Succession Planning, June 2011
SOURCE: HALOGEN SOFTWARE
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