Succession Management Report 2023
23 January 2023
IIC Partners member firm HRM Search Partners recently conducted an in-depth survey on succession planning with 321 organizations throughout the Republic of Ireland. The results were fascinating. Here are a few highlights:
- 83% believe that succession management is essential to organizational success.
- However, only 28% of organisations say they place a High Priority on leadership gaps.
- The function with the lowest percentage of succession coverage was IT.
- The top obstacle to succession management was: A generally haphazard or inconsistent approach to determining who are high potential employees.
- The top five benefits of succession planning were listed as:
- Business continuity in the face of an unexpected change
- Retention of high potential employees
- Building long-term talent perspective in the organisation
- Planning exercise reveals talent gaps and vulnerabilities
- Early identification of development needs in high performers
About HRM Search Partners
HRM is the leading independent Executive Search firm in Ireland. Through a range of structured and custom solutions, we serve global leaders and local champions in Biopharma, Pharma & Device Industries, Consumer Markets, Professional Services, Business & Financial Services and Digital & Technology sectors all over Ireland. We support organisations of all sizes with their complex hiring needs by blending unique research networks, data and analytics with innovative assessment stages, knowledge and reach.
HRM Search Partners is also the unique and exclusive member in Ireland of IIC Partners, a top ten global executive search firm. Collectively, we combine our passion to find the best talent for client organisations all over the world. We share our commitment to develop real understanding of need, to advise, inform and guide organisations to make the right executive hiring decisions.