Identifying a capable successor does not mean the succession plan will work.
For Jeeva Balakrishnan, CHRO, Cholamandalam Investment & Finance, three things must come together: the individual’s aspiration, the individual’s capability and the organisation’s talent needs. If they do not, an organisation can invest heavily in a successor only to find itself back at the starting point.
In this excerpt from HRKatha Futurecast: The Future of Succession in BFSI, held in association with People Business, Balakrishnan explains why the CEO must own succession while the CHRO builds the infrastructure that develops people for future roles.
