Succession BenchesSmart Sourcing. Genius Partner.
External Succession Benches are becoming more important strategically to ensure management continuity. The flattening out of corporate hierarchies and elimination of middle management roles has made it difficult for companies to grow their own successor talent. As a result, most companies lack the required bench strength and have to go outside their organizations to find the senior leadership talent they need.
According to a survey conducted by the Corporate Leadership Council, 72% of companies predict they will have an increasing number of leadership vacancies over the next 3-5 years. However, 76% of respondents are “less than confident” in their abilities to staff these positions.
The growing need for external succession benches is the result of the following trends:
- Growing baby boomer retirements
- Increasing executive turnover
- Executive exodus to become entrepreneurs
- Lack of upward mobility in lean, merged corporations
- Larger, global corporations requiring greater skills
Intellerati offers external succession benches for succession planning support. We tee of potential successors and assist in topgrading senior executives. We fly under the radar to identify, profile, and recruit potential executive candidates confidentially. Our offering informs succession planning, enables benchmarking, and makes it possible for organizations to replace faltering talent for best-of-class executives. Our services are designed to support the strategic talent initiatives of organizational development leadership.