While employers across the country are gearing up to attract talent in the coming year, one position that won’t require any recruiting is that of Chief Financial Officer (CFO). A new survey, released by Robert Half Management Resources, finds that almost half of all respondents say their company doesn’t have a succession plan in place […]
Tag: Succession Planning
Succession plans are a great way of filling executive seats during these difficult hiring times. However, there are some rules and best practices you need to consider before carving your succession plan into stone.
Turnover in the United States is higher than many people think. According to the Bureau of Labor Statistics, the turnover rate across a wide range of industries in the private sector was over 47.4% annually in 2017, and that number has increased steadily from 42.3% in 2013. So, businesses need to be prepared to lose employees […]
Unemployment is at record lows, and Baby Boomers are leaving the workforce at increasing rates. For companies that are struggling to fill roles, they should look to current employees to make lateral moves to help fill the void. However, companies need to know how to retain workers in order to keep them around.
Succession planning is a great strategy for filling roles left by retiring employees, but due to a skills shortage across many industries, employers are using succession planning to help fill their immediate talent shortage needs.
Do you have a succession plan in place? If not, you may want to consider one, as turnover is a fact of life for any business. Whether due to an employee retiring, leaving for a different opportunity, or being promoted or moved to a different position, businesses frequently need to fill roles due to turnover. Some […]
Yesterday’s Advisor began to take a look at the results of BLR’s 2015 High Potential Employee (HiPo) survey. Today we’ll examine the rest of those results. Talent Management 55.3% of respondents make use of succession planning, and 51.1% use talent pipelines as talent management strategies. 39% of survey takers said that they make use of […]
The results of the 2015 High Potential Employee (HiPo) survey are in. Take a look at the results, and see how your company compares to those of your competitors. Highlights of the HiPos and Succession Planning Survey: While 92.3% feel that identifying HiPos is important, only 44% of respondents say their company actively attempts to […]
In yesterday’s Advisor we looked at reasons 1 through 8 for having a succession plan at your organization. Today we’ll look at the rest of them! Planning ahead can be a hassle, but it behooves a company to spend some time looking at their internal talent and thinking about who could replace who in a pinch. […]