Indian cos more ready to have succession planning: Report

• About 4 in 10 leaders in India identified themselves being as in a high-potential program, a greater proportion than being in the global sample.
• Organizations in India were more likely to have succession plan for higher-level managers compared to the average organization worldwide.
• Although 44 percent of multinational organizations in India had a process to identify multinational leaders, only 26 percent had a process to develop them.

The number of businesses in India having intra-company succession plans for their mid-level managers is decidedly more than anywhere else in the world, reveals the India Leadership Forecast launched by talent management expert, Development Dimensions International (DDI).

The report reflects an increased demand for internal leadership development due to the high growth rate of organizations in the recent years. The statistics suggest that 61% of Indian organizations have a process to identify high-potential Leaders compared with 50% of the global organizations. High-potential leaders that are placed in accelerated development programmes are more positive and confident about their future roles. Nearly 42% of Indian organizations have such special programmes in place to help leaders face future challenges.

These frameworks enable leaders to identify the areas that they find challenging, discover what is expected of them in their new roles and help new leaders implement a development plan, which can be applied in their daily activities. They also aim at developing effective decision-making skills managing relationships for greater impact.

Organizations in India are more effective at clearly communicating the importance of such leadership modules by monitoring them at regular levels and intervals. Commenting on the Leadership Forecast Report findings, Richard Wellins, Senior Vice President, DDI, said,” Leadership transition can be one of the most stressful experiences in a person’s life, most notably because leaders are expected to be successful in the new role. Good leadership will be important in the future, to help control costs, cope with increasing change and tackle the expected upturn".

Economic Developments in India have put the focus on how to develop and prepare leaders to manage in a growing economy. The primary business priorities for Indian organizations according to their top executives are growth and improving and leveraging their talent.

DDI has spent the last 40 years developing leaders at every level—nearly 6.3 million worldwide—and helping organizations optimize their leadership talent.

About DDI

Founded in 1970, Development Dimensions International, a talent management expert, helps organizations close the gap between today’s talent capability and future talent needs. DDI’s expertise includes designing and implementing selection systems, and identifying and developing front-line to executive leadership talent. With more than 1,000 associates in 75 offices in 26 countries, the firm advises half of the Fortune 500.

For more information about DDI visit http://www.ddiworld.com/about/default.asp