Insights
Korn Ferry: Improving Succession Management in China
In this article, Korn Ferry looks at a study that found two-thirds of corporate executives in Chinese companies are not satisfied with their company’s succession management practices. This result reflects the worldwide view of corporate executives, as well. The results of the survey indicate a notable lack of attention toward a company’s talent pipeline, with only 15% of respondents believing their firms had talent ready at every level and with even the one-third of executives who said they were satisfied with their organization’s succession management expressing that their companies need help accelerating talent development.
As a suggestion to combat a lack of solid succession management practice within a company, Jeffery Lin, a principal consultant at Korn Ferry, suggests beginning to measure employee potential in a more holistic matter, such as identifying useful traits in their employees as opposed to simply looking at their performance.