Wanted: New Boss | Most UK businesses are failing to future-proof

New research has found that many organisations are struggling with succession strategy – to the point that nearly three-quarters of CEOs and 71% of Boards are not actively participating or supporting succession strategies.

The new research by talent insight experts Armstrong Craven demonstrates that succession planning is far from being a priority for most organisations. The research, which polled over 200 HR and talent professionals, 173 of which were senior leaders, found that only 24% of HR professionals described their organisation as ‘very proficient’ when it came to succession planning.

Lack of buy-in

A key problem is a lack of buy-in from the C-Suite on the importance of succession planning; the researchers found that in nearly three-quarters of companies, CEOs don’t have responsibility for succession planning, nor do 71% of Boards. On top of this, 29% of HR respondents say it’s a challenge to get succession planning buy-in from the CEO, while 24% say the same about the wider board.

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With the cost-of-living crisis in full swing, soaring costs, supply chain issues, and problems recruiting and retaining staff in a tight labour market, it’s safe to say that both the C-Suite and HR functions have their hands full at the moment. It may be that the lack of C-Suite buy-in is simply because succession planning is low down the list of priorities for most organisations.