Leadership Succession Planning for Today’s Digital Transformation Economy: Key factors to Build for Competency and Innovation
Digital transformation is rapidly changing the competitive landscape and the war on talent for today’s organizations. As part of this economy, organizations and their HR units must continuously reevaluate leadership structures and practices that exploit core competencies while allowing for innovation (i.e., leadership ambidexterity) and incorporate big data with predictive analytics. In this vein, understanding how HR executives can create better solutions around this problem remains sparse. Specifically, what frameworks can HR executives apply to identify potential alignment failures in leadership succession planning in light of newer emerging markets? What internal decision-making traps need to be recognized? Finally, what specific forms of data and evidence must test these plans for relevance and recharge and renew the talent-to-strategy pipeline? In this article, we examine these questions by reviewing the gaps in the literature and identifying through our four-step model how organizations can incorporate ambidexterity-building as a leadership succession planning practice.
Jackson, N. C., & Dunn-Jensen, L. M. (2021). Leadership succession planning for today’s digital transformation economy: Key factors to build for competency and innovation. Business Horizons, 64(2), 273-284. Doi: 10.1016/j.bushor.2020.11.008