Lack of Succession Planning Worries Execs

Succession Failure: Most companies are failing at succession management. Finding successors for top leaders is the chief challenge facing companies, cited by nearly three-quarters of executives in a survey by the Society for Human Resource Management. Not surprisingly, 71 percent are worried about how they will equip would-be leaders with the skills to be successful, and 69 percent are sweating about recruiting and selection of top talent. Also keeping execs awake at night are worries about how to keep top performers engaged in their jobs, as well as unpredictable issues such as the skyrocketing costs of employee health care.