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Succession IQ
Succession IQ
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  • About
  • Global Research: 2024-25
  • Capabilities & Offerings
  • Succession Planning-Why?
  • SuccessionIQ Science
  • Featured Insights
  • Contact

Wrong Succession Planning is a Multi-Billion Dollar Mistake

How to decide which positions to prioritize?

You are with the Experts now!!!


Succession IQ covers as a minimum all the Board Members, Chief Executives, Top and Senior Management Roles, and all their direct reports in key positions. However, depending upon your needs, it might also be necessary to include other positions identified as critical to the business. E.g., succession plans for Independent or Non-Executive Directors on Board, Advisors to Board/ CEO etc. 

Succession Planning FAILURES

The Core Issues

  1. Misplaced Ownership: Chairman/ CEO/ CFO/ CHRO should not own the process and should only sponsor the process. Due to too many inward stakes in the process, these roles will always contend to propose and support their favorites with an Unconscious/ Conscious “King-Maker” Bias. 
  2. Lack of Continued Focus & Required Attention: Fluctuating rigor of the process due to the market forces, P&L, Balance-Sheet is a foolish way to drive this Organizational Building Agenda. Wrong successors can not only impact the future success and sustainable growth of the organization, they can also override all the P&L and Balance Sheet Compulsions.
  3. Responsibility & Functional Purpose: Succession Planning is neither a responsibility nor a functional purpose of HR. It is a clear-cut Business Continuity Strategy and should be accorded the same importance. 
  4. Management Of Succession – Inhouse or Outsourced: Succession Planning Process is directly impacted due to the attitude, biases and views of the Business Leaders, the Board & the CXOs at the top. Therefore, it must essentially be outsourced and dealt by external experts & specialists to avoid any kind of biases, interference as well as to invest the right focus & time in terms of identification & selection of Right Successors. 
  5. Nine Box Framework: Succession Planning Process worldwide even till date is largely a consequence of a Nine Box Framework being implemented. Unfortunately, this framework, while it had its strengths long back, is no longer serving the purpose and only adds to the problem(s) of the current business realities. 

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