In most European insurance companies, formalised talent management and succession planning processes have only recently been introduced with the result that the industry lags behind others in this respect.
Companies are starting to recognise the value of talent management and succession planning, but there is a significant gulf between intention and reality. Rolling out a succession plan usually involves significant cultural change, and, while there is plenty of innovation there is also conflict between progressive ideas and some of the more traditional approaches that resist performance-based analysis and appraisal procedures.
Finding potential successors requires discipline, sound processes and commitment from all levels of the organisation. We look at the trends, attitudes and approaches to talent mapping in the industry.
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