What does succession management look like at Deloitte?
Succession management is a live priority for Deloitte this year
Plan for the future, not necessarily current leadership needs
The firm wants to be even more agile and able to better anticipate value-creating roles essential to future business success. It is also focusing on enhancing succession planning (for the organisation) and development planning for its people. This will enable employees to develop the right skills and experiences for success in a future role.
Closely aligned to its inclusion agenda, Deloitte wants to develop a more diverse pipeline of future leaders. Deloitte’s HR team use analysis by its human capital consulting team who specifically look at the future of work.
The latest Human Capital Trends Report deals with the future of the workforce. This insight allows Deloitte to adapt to the forces that are constantly restructuring jobs and work, the open talent economy and, importantly, leadership.
Deloitte has therefore adopted a 'human-centred approach' to succession management i.e. putting its people at the heart in a bid to retain objectivity and build trust.
Future of Work
The Human Capital Trends Report distinguishes a world of disruptive digital business models, augmented workforces, flattened organisations and an ongoing shift to team-based work practices. Organisations are challenging their leaders to step up and show the way forward.
CEOs are being pressured to take a position on social issues, C-suite executives are being asked to work more collaboratively across functions, and line leaders must learn to operate in networks of teams.
But the Human Capital Trends research shows that while organisations expect new leadership capabilities they are still largely promoting traditional models and mindsets.
They should be developing skills and measuring leadership in ways that help leaders navigate greater ambiguity, take charge of rapid change, and engage with external and internal stakeholders.
New leadership challenges include:
- New technologies
- Pace of change
- Changing demographics and employee expectations
- Changing customer expectations
- Social context
Using insight such as this means Deloitte remains future focused and continues to manage organisational risk – ensuring strategies are in place to meet the leadership needs required to successfully run the firm now and in the future.
This piece appeared in the February 2020 print issue. Subscribe today to have all our latest articles delivered right to your desk