All too often, especially in organizations with long-tenured leaders (including founder-led), the leader’s focus tends to be on themselves rather than on the organization’s succession plan. Unfortunately, when succession planning takes a back seat, often so does emerging leader retention. Thus, there is a direct correlation between succession planning and employee retention and although this correlation has always existed, the effects of the COVID-19 pandemic have only exacerbated it.
Without knowing when the pandemic environment will end, many organizations are afraid to make a move because they want to maintain some semblance of stability. Tenures that may have ended prior to March 2020 have been lengthened. Thus, opportunities for up-and-coming leaders in these organizations are being delayed, forcing the truly ambitious among them to look elsewhere to meet their highest career goals and aspirations (HCGA).
