Here’s hoping you don’t run the one in five organizations that are utterly unprepared to cope with the sudden loss of key leaders.
In an AmericanAssociation (AMA) survey, 1,000 senior managers and executives say their companies sorely lack bench strength. Barely half think the depth of their bench is even adequate, and a slim 10% think it’s robust.
The past two years have seen a focus on cost cutting and survival, the AMA says, adding that now is the time to return your attention to talent.
Plan for smooth successions. Going forward, make sure you have “the best people in pivotalroles, prepared to step in at any time.”
— Adapted from “One in Five Companies Unprepared for Leaders’ Sudden Loss,” American Management Association, www.amanet.org.