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Any HR professional would likely agree: Finding and retaining top talent is both their chief focus and greatest frustration. When that talent sits in the C-suite, the implications of rising to that challenge are all the more significant.
And it’s a task HR leaders are increasingly facing. According to recent research from Gartner, more than one-quarter of C-suite leaders plan to leave their posts within a year—and more than half in two years. Executives are increasingly being asked to do more in their roles, driving up burnout, particularly amid ongoing demand for transformation.
Executive searches are costly, lengthy and disruptive—highlighting the value of strategic executive succession planning, says Ani Huang, president and CEO of the Center On Executive Compensation, a division of the HR Policy Association.
HRPA and the Center for Executive Compensation recently released a report highlighting the pain points of CEO succession planning and offering guidance for boards of directors and HR leaders. While the research focuses on CEO appointments, many of the recommendations are applicable to the entire C-suite succession planning process, Huang notes.
What sets the CEO search apart, she says—and drives up the need for strong leadership and collaboration from the CHRO—is the role of
