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CEOs are deeply involved in their own Succession Planning due to a challenging environment!

By | Nicolas BEHBAHANI | Global People Analytics Leader @ Future of Work | Leading Global HR Analytics, Driving Business Growth

πŸ’‘ Geopolitical uncertainty tops the list of challenges for CEOs.

πŸ’² Although optimistic about their organizations, many CEOs (45%) say they are prioritizing measures to optimize operating costs in order to drive organizational growth.

➑️ 42% of CEOs report that their boards have a well-defined process in place

➑️ 84% of CEOs indicated that they are involved in identifying candidates

πŸ”₯ From pipeline development to interviewing candidates, CEOs report some degree of involvement in choosing who will succeed them.

🎯Majority of CEOs believe that Leadership style and personality will play a critical role in the selection decision, according to a new interesting research published by Deloitteusing data from a survey of 107 CEOs (Fortune 500 CEOs, Global 500 CEOs, and select public and private CEOs in the global Fortune community) representing more than 20 industries, fielded February 13-23, 2024.

βœ…CEO are deep involved in their own succession planning

CEO involvement in the Succession planning

Researchers noticed that the majority of CEOs report that they are significantly involved in planning for their succession in every stage of the process

βœ”οΈ Development of the pipeline (91%)

βœ”οΈ Development of the succession plan (84%)

βœ”οΈ Identification of candidates (84%)

βœ”οΈ Identification of the candidates pipeline (82%)

βœ”οΈ Development of the candidate profile (75%)

βœ”οΈ Interviewing candidates (72%)

βœ”οΈ Selection of the search firm (62%)

βœ”οΈ Review/approval of the succession plan (53%)

βœ”οΈ Selection of candidate (54%)

βœ…CEO Successor criteria

CEO Successor criteria

Researchers classified the successor criteria and they found these five factors below play a critical role in the selection decision

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