Only 38% firms have leadership succession plan in place: EY
Filling vacancies at the top is a significant challenge for the most of the companies and yet just 38% of the firms seem to have a well-established leadership succession talent plan in place, says an EY report.
While, around 32% of respondents plan to have a leadership succession talent process in place in the next one year, 13% do not have any such plan at all, the report, ‘Talent trends in India, 2015’, said.
“Only 38% of the companies surveyed have a well-established leadership succession talent process in place,” it said. The findings assume significance as filling vacancies at the top brass is a “significant challenge” for most companies. According to the report, around 14% of top management vacancies remain open for more than six months, while 75% take longer than two months to fill.
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