Leadership pipeline is critical for blue-chip corporates to evolve into institutions that outlive their founders, said human resources consultants, as the sudden exit of Infosys CEO Vishal Sikka raised questions over succession planning at India Inc. While succession planning, as a concept, does exist in India, experts opine that some large corporations seem to be “struggling” when it comes to putting their act together.
According to experts, a few companies in sectors such as banking, financial services and insurance are on par with organisations globally in succession planning.
‘Leadership pipeline’
“Building a deep leadership pipeline is a priority for any progressive and growth-driven organisation as it is a critical element towards building a lasting institution which outlives its founders,” staffing services firm TeamLease Services co-founder and executive vice-president Rituparna Chakraborty said.
Others noted that Indian firms’ succession planning rates poorly as against their global peers, who often start months in advance to find a proper replacement.
“It is absolutely necessary for corporates to adopt succession planning; having said that, it does exist in India although many of the new large corporates may seem to be struggling,” global executive recruitment firm Antal International India MD Joseph Devasia said.
