Succession Planning
Identifying successors for senior positions is a critical undertaking for any business. You need a fair and objective process to select and develop the best leaders. At Psychological Associates, we use our proven suite of data-driven solutions to create robust and individually tailored Succession Planning processes. We’ve honed our approach for nearly six decades, refining it into a solution you can trust.
How Does Your Succession Plan Measure Up?
Key Components of Succession Planning
Because we have helped thousands of companies select and develop their next generation of leaders, we know that no two succession plans look the same. When building a succession plan that suits the unique needs of your organization, we start with our key components:
Discovery
We seek to become familiar with your organization. Our in-depth Discovery phase focuses specifically on your culture, competencies, and corporate structure, among other relevant details.
Implementing Executive Development
After assisting you with identification, we offer executive coaching and targeted training solutions as part of our comprehensive approach to talent development. We can help your executives increase their effectiveness by attending our acclaimed leadership development programs.
Gauging Your Organization's Bench Strength
We combine specific tools, such as our Assessment for High-Potentials and 360° feedback, to evaluate your bench strength and identify individuals poised to step into key leadership positions.
Measuring Results
Psychological Associates uses a follow-up structure to measure executive growth. Our team development solutions facilitate improved performance and 360° feedback reports provide follow-up data to track progress over time.
Download our Succession Planning Brochure
What Our Clients Say
“Western has partnered with Psychological Associates to create and implement defined succession planning and leadership development. What once was informal and subjective is now guided by metrics and structure. PA helped us put a plan in place to ensure we have a pipeline of qualified managers and leaders to drive our future success.”
“Psychological Associates not only helps select the right candidate for the role, but also provides the development plan and coaching card that jump starts the acclimation process for a key executive on day one. This provides the executive with guardrails around how to lead in the new culture and a plan to quickly scale the learning curve.”
Our Succession Research Findings May Surprise You
While the vast majority of survey respondents agree succession planning is important, over a third had not put formal processes in place to identify and develop key leaders. And over 60% admitted that it is not clear who is next in line to fill key leadership roles within their organization.
Why don’t organizational leaders act on this vital strategic practice when we know they’ve acknowledged its importance? There are many reasons, but when a key leader leaves unexpectedly, or the world slides into an unexpected pandemic, the companies who planned ahead are the ones who come out on top.
