The talent-pool approach to succession planning has emerged as a strategic best practice that establishes a larger number of employees for promotion — "bench strength" — who are more likely to stay loyal and whose skills are best aligned with the organization's strategic plans. Leading succession planning experts recognize that many organizations confuse replacement planning for true succession planning, which focuses on developing people to build overall bench strength. Despite the current downturn, many organizations are still faced with competency shortfalls. This means succession planning strategies and tools must effectively nurture and develop a deep pool of people to draw from, with the know-how to support the organization's strategic direction. Succession is not just about grooming executives for the C-level. It is about creating career paths at all levels and tying it to performance. This webcast will cover how to implement systematic succession planning using talent pools to gain a competitive edge in a knowledge economy.
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