Succession Planning Vs. External Recruitment — How To Build A Balanced Talent Strategy

 


In the constantly changing business landscape of today, there is one significant challenge that businesses are facing, which is ensuring that the right leadership is established for fostering growth, innovation, and sustainability. While earlier recruiting leaders was just about filling up positions with individuals that had communication, decisive, and management skills, today it goes much more beyond that. To address these evolving leadership expectations, organizations increasingly rely on two core approaches to leadership planning — succession planning, which prepares internal talent for future leadership roles, and external recruitment, which brings in leaders from outside the organization. Both these strategies are important in their own individual way, and achieving the right balance between the two can significantly influence an organization’s long-term success, resilience, and adaptability. This blog delves into both these approaches, and how to achieve a strategic balance between the two.

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