From the course: Human Resources: Strategic Workforce Planning
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Alternative approaches to leadership succession
From the course: Human Resources: Strategic Workforce Planning
Alternative approaches to leadership succession
- Leadership succession originated with planners in the military. At the most basic level, the troops need to know who they should follow should their leader become injured or incapacitated. In this video, we'll examine how several business firms plan for leadership succession. And then we'll identify some general principles for you to follow. Both GE and IBM have had similar processes in place for decades and many other firms have modeled their succession tactics. Responsibility for carrying out the succession process rests with line executives from division presidents up to the chief executive officer, or CEO. Corporate HR provides staff support. Once a year, each responsible executive makes a formal presentation to a corporate policy committee consisting of the chairman, the vice chairman, and the president. The presentation usually consists of an assessment and ranking of the present performance and future potential of key executives and their possible replacements. All of this is…
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