Blog : BOARD TALK
|Posted on April 21, 2015 at 6:00 AM|
Ah, succession planning. Despite the fact that the UK's corporate governance watchdog, the Financial Reporting Council (FRC) has steadily been extolling its virtues - as have institutional investors - it seems UK plc is still very slow to 'get it.'
Worse - while there are regular complaints from the CBI about the 'lack of skills' available for business to hire, there appears to be little sense of urgency of the need in that case to try and develop those skills internally.
When it comes to leadership development, which is surely an essential step towards succession planning, it may be even worse.
A study just out from global talent consultancy Korn Ferry reveals that nearly half of companies (47%) are failing to offer leadership development programmes specifically for members of the HR function. If your HR function can't keep up with the times, what hope is there for your business?
To be fair, it isn't just the UK. Korn Ferry conducted a global survey of more than 700 executives.
Of the businesses that do offer leadership development programmes for members of the HR function, two-thirds (66%) said the programme was not as rigorous as it is for other functions within the organisation, and more than half (58%) said they did not believe their senior HR leaders received the necessary development opportunities to perform optimally in their roles.
"This is the perennial problem of the cobbler’s children having no shoes. As the HR function continues to become more complex and entrenched in the strategic aspects of the business, it is critical that HR leaders are offered key development opportunities to help them succeed” says Arvinder Dhesi, a Partner at Korn Ferry.
Indeed. Just as businesses need to start thinking of technology as a lens through which they must view their future strategc plans - rather than as a function that sits under IT alone - they also need to view HR in a completely different way. And of course, there tend to be a lot of women in these roles.....