Succession Planning: Executive Search Strategies and Organizational Performance
Arcus has a unique approach to Executive Search and Salary Assessments. Unlike search firms that focus on identifying candidates for a position, Arcus combines a strategic approach to search. We start with a proprietary 4-step position evaluation process that defines the skills and capacity requirements of the position benchmarked against over 2000 similar positions in a sector. This approach allows us to assess the customized skill requirements for a position and a more accurate job description that will deliver superior performance. Contact Arcus for a sample benchmarking evaluation of a position and associated ranges of salaries.
A substantial cohort of senior leaders is expected to retire over the next 5 to 10 years. Is the next generation of senior leaders being adequately prepared to assume their roles? To help answer this question, Arcus conducted a national survey, as part of the Arcus View from the Top leadership series, to determine the current state of practice in CEO succession planning within Canadian organizations.
Position Evaluations and Performance Management
The key to better organizational productivity and success. The Arcus performance management system is based on a four step process that includes organizations inputs, sets expectations, deployment and monitor and measure and recognize.
An analysis of the extent to which specific practices are associated with perceived effectiveness with regard to succession planning indicates that the extent of succession planning (i.e., whether it is routine and, if so, how pervasive the practice is) is correlated with the effectiveness items. Results indicate that extent of planning is significantly and positively correlated with perceived effectiveness both in identifying successors and in preparing successors for the CEO role. These results suggest that institutions in which succession planning is not routinely done tend to view their practices as less effective.
Succession planning- an integrative review
Succession planning has recently gained attention in the healthcare literature, primarily because of nursing shortage concerns and the demand for retaining knowledgeable personnel to meet organizational needs. Little research has been conducted in healthcare settings that clearly define best practices for succession planning frameworks, especially for senior executives and CEOs.
To effectively carry out such organizational strategies during these challenging times, an integrative review of succession planning in healthcare was performed by Arcus to identify consistencies in theoretical approaches and strategies for healthcare organizations to initiate. Selected articles were compared with business succession planning to determine whether healthcare strategies were similar to best practices already established in business contexts. The results of this integrative review will aid organizations to use succession planning as a tool in recruitment, retention, mentoring, and administration activities and also provide insights for future development of healthcare succession planning frameworks.