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March 2013

Desi Companies Plan Succession only for Top Tier

By Tarunkumar Singhal, Raman Jokhakar, Chartered Accountants
Reading Time 1 mins
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Around 71% of Indian companies say they have a succession plan in place for their top-tier leaders but only 27% of these organisations have a satisfactory technology in place to executive this task. About 26% of Indian companies say insufficient funds for development is a key barrier to achieving goals. While 32% of organisations in Asia-Pacific are spending more than INR310,741 per person annually to train and develop their senior level leaders, only 25% companies are doing so in India.

 “It is not only the funding which is a problem; it is about the time being exclusively dedicated to mentoring and grooming future talent which is missing across Indian companies. Not many organizations are employing trained coaches and mentors, an efficient and professional method which has been successfully proven internationally for years,” says Nishchae Suri, managing director at Mercer India.

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