With advance technology taking the central stage to achieve strategic business goals, the CIOs have become equal significance to the organizations. The needs of leadership roles are way broader and deeper than merely building the C-suite pipeline.
In this article at TechTarget, Mary K. Pratt explains the significance of identifying the ideal employee who can fit into the big shoes of the CIO to take over their responsibilities.
The Pushed Aside Succession Plan
Being a vital part of good governance, organizations must handle the CIOs’ succession planning strategically. According to a recent report of the Association for Talent Development (ATD), only 35 percent of organizations have designed and implemented a formal succession planning process.
Moreover, a Deloitte study unearthed the fact that about 86 percent of responding executives consider leadership talent as the need of the hour. Only 13 percent of organizations handle leadership development efficiently, but they too have succession plans for CEOs, not CIOs.
Often senior leaders dodge succession planning because for them mentoring an internal successor is a sheer waste of time and money. Once trained, the professional may switch organization or join hands with the competitors.
Advantage of Internal Grooming
Even though the risk is high in internal grooming for CIO’s role, but it is equally beneficial as internal candidates are well-versed with the company’s objectives. Internal grooming saves the learning curve, but the CIOs must pick only those who have managed similar responsibilities before.
The organizations ready with the CIO succession planning are always efficient in hiring and retaining top industry talent. The employees can see the vision of the organization to grow and boost their careers. An appropriate succession plan helps in filling the significant position of the CIO with a powerful blend of experience, knowledge, and skills. Click on the following link to read the original article:https://searchcio.techtarget.com/feature/CIO-succession-planning-The-transition-of-power