A study by LHH found that nearly nine in 10 businesses consider their succession plans ineffective, with many organisations struggling to prepare future leaders because of rapidly changing business needs and evolving workforce expectations. The report highlights that succession planning should be an ongoing process focused on identifying, developing and retaining talent, rather than simply replacing senior leaders when vacancies arise. It also stresses the importance of equipping employees with future-ready skills through continuous learning and leadership development. SP has launched a Human Capital Collaboratory that follows a four-step process covering business challenges, work redesign, human capability development, and sustained business value.
Singapore Polytechnic
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