Why are succession planning efforts falling short and making leaders nervous? A separate Robert Half survey of U.S. hiring managers sheds light on the succession planning challenges that many organizations face today. According to the respondents, the top five issues are:
Lack of succession candidates within the company (42%)Insufficient upskilling programs (39%)Retirement of key employees (38%)Potential successors not interested in leadership roles (35%)No succession plan in place (21%)
In that same survey, hiring managers were asked about the top issues they encounter when recruiting executive talent, specifically. Thirty-five percent said their greatest challenge was finding candidates who have the experience they seek and are well-matched to the company’s culture. One-fifth cited the pressure of time constraints in hiring into executive roles, which, of course, can lead to hasty decisions.