Why do C-level executives fail at succession programs?
There’s several reasons. A succession program can fail because a totally unexpected event takes place, and the people slated for the C-level position just aren’t ready to move up. Because CEOs tend to focus on short-term results, say quarterly, they don’t always recognize the need for investing in lagging indicators, such as the development of people. It takes years to develop a potential successor. Historically, human resources and human resources development haven’t been strategic in developing successors. During the past decade, enlightened CEOs at companies, such as Cisco, PepsiCo, and PriceWaterhouseCoopers, and sophisticated HR executives have seen the value of working together. Q. What’s the likelihood of success for a C-level executive being hired from another company? According to data, executives hired from outside the company are more than twice as likely to fail as someone who has been groomed internally. Not being familiar with the organization’ s culture often makes it di
