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CEO Succession Planning: Your 2024 Comprehensive Guide (+Free Template)

AIHR

CEO succession planning is more important than you may realize. According to Harvard Business Review , nearly $1 trillion of market value is wiped out every year in the S&P 1500 from poorly managed CEO and C-suite transitions. Contents What is CEO succession planning?

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Digital HR

AIHR

Many aspects of the candidate journey can be digitalized and (largely) automated, from candidate sourcing and job posting to candidate pre-selection, interview scheduling, and onboarding. In the era of digital HR, there exists an array of succession planning tools that companies can use to streamline their succession planning process.

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Succession Planning: Essential Guide for HR

AIHR

Succession planning is essential to ensure critical roles in a company are not left vacant for extended periods or filled by people who don’t have the skills or knowledge to perform in the role. That means that over half of the organizations the surveyed HR professionals work at didn’t have a plan.

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How To Develop Winning Learning and Development Strategies

AIHR

Learning and Development (L&D) strategies impact an organization’s business decisions by highlighting the development of the specific skills required to expand to new markets or remain competitive within your industry. A sound learning and development strategy is particularly vital during a tight labor market or recession.

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Chief Talent Officer: Everything To Know About This Role

AIHR

The chief talent officer creates processes to optimize hiring, build relationships for candidate pipelining and succession planning, and manage short and long-term staffing requirements. Finding and developing them is critical to your business’s success. People are your most important resource in the organization.

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What Is Internal Recruitment? 7 Internal Recruitment Methods (+ Examples)

AIHR

There’s less need for extensive background checks or lengthy onboarding processes. Lack of fresh perspectives: Continuously hiring internally can lead to a lack of fresh ideas and perspectives, which is necessary for innovation and staying competitive in the market. May dilute specialized skills if not balanced properly.

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How to Create a Work Environment That Encourages Career Advancement

Zenefits

Companies that support career development and advancement help their teams prepare to maintain or obtain jobs as the job-seeking market changes. Managers should discuss career growth options with employees, during recruitment and employee onboarding and through to one-on-ones and performance reviews.