Assessing and preparing executives for succession is not easy, but it's also no longer an option for companies in today's changing workforce. In order to ensure a successful future, companies today are facing growing challenges as older employees are retiring.
In January 2010, PricewaterhouseCoopers published a survey that found that 40 percent of board directors are dissatisfied with their companies' management of succession planning
To ensure success, companies need to develop and implement consistent talent management and leadership programs -- across all organizational levels, not just C-suite executives -- to ensure the greatest value to both employees and customers.
United Airlines is an excellent example of an organization that has been able to realize succes through it succession planning initiative.