
Only 16% of companies have a leadership succession plan in place
Only 16% of companies have a leadership succession plan in place
- A study by Robert Walters reports that only 16% of Irish organizations have a leadership succession plan.
- Over 40% of companies lack any planning for leadership transitions, exacerbated by leaders reporting a significant shortage of senior talent.
- This lack of preparedness for leadership change poses operational risks and signifies a need for strategic succession planning.
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In Ireland, recent research from Robert Walters highlights a significant lack of preparedness among organizations for leadership transitions. The study reveals that only 16% of participating companies have established a leadership succession plan, while over 40% have completely no plan in place, with an additional 7% unsure of their status. This unpreparedness for leadership changes contrasts with the concerns expressed by 72% of Irish leaders about a shortage of senior talent, underlining a concerning gap between awareness and action. The research draws attention to challenges in identifying and developing future leaders within organizations, indicating that almost 38% of participants struggle to spot and cultivate potential successors. Suzanne Feeney, the country manager at Robert Walters Ireland, emphasizes that many organizations traditionally handled succession planning informally. However, the current business environment is vastly different due to factors such as advancements in artificial intelligence, geopolitical uncertainty, and economic pressures that create