Failure of India Inc.’s Succession Planning

With significant turnover among C-suite executives and a surge in top talent mobility, India Inc. is battling to secure succession. Corporate executives struggle to develop a pipeline, despite demand from boards and investors to extend strategy beyond the CEO’s level to second-line leadership roles. Experts warn of potential interruptions unless institutional concerns are addressed, attributing the danger to a variety of business challenges.

Deloitte’s exclusive research quoted by the Economic Times demonstrates that just one out of every four organisations effectively implements succession planning, despite the fact that seven out of ten have a framework in place.

According to the report, 29% of organisations see the succession planning process as effective for CEO roles, while 32% perceive success at the CXO-1 level. However, just 18% of C-suite executives believe succession planning is successful. According to the poll, just 4% of organisations believe succession planning to be extremely effective, with 7% rating it as very effective, 14% describing it as moderately effective, and 14% as somewhat effective.