Linkages of managing talent and succession planning in selected listed firms: A board of director’s vision

Download This Article

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

To explore and analyse the linkages between talent management strategies (TMS) and succession planning interventions in corporate organizations. A descriptive research design has been utilized to conduct the study based on cross-section panel data collected from senior-level human resources professionals associated with listed firms. Their insights have been collected through a structured questionnaire in Google Form. The study offers that as a part of TMS, the formal system for career aspiration does not necessarily indicate that there is a readymade/proactive succession plan exists in the listed firm. Further, it reveals from top management executives that if offered a development program, then it creates a greater chance for effective succession. Further, it occurs that standard talent reviews don’t necessarily influence the succession planning process in corporate firms. The present study will be beneficial for corporate companies and startups to plan their agenda for having the right talent and good successors on key management profiles, like appointing candidates to board-level positions. Even, a sound business continuity plan can be portrayed with having a proactive leadership succession in place. This study offers fresh perspectives on the board of director’s perspectives on managing talent and succession planning. The study is a first-of-its-kind attempt to investigate succession planning and TMS in listed corporate entities in an empirically designed methodology. The study is based on a small respondent size of 130. Findings might differ when a larger sample is analysed. Executive reluctance is another limitation while collecting data in a structured form.

Keywords: Succession Planning, Talent Management Strategies, Career Aspirations, Top Management, Business Continuity

Authors’ individual contributions: Conceptualisation — T.S., A.K.P., and P.K.T.; Methodology — P.K.U. and P.S.; Formal Analysis — A.K.P. and P.S.; Investigation — T.S. and P.K.U.; Data Curation — P.K.U. and A.K.P.; Writing — Original Draft — A.K.P. and P.K.T.; Writing — Review & Editing — A.K.P. and P.S.; Visualisation — P.K.U., P.S., and P.K.T.; Supervision — T.S.; Project Administration — T.S. and P.K.T.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: M12, M51, J24, L25

Received: 03.10.2024
Accepted: 17.01.2025
Published online: 21.01.2025

How to cite this paper: Sharma, T., Upadhyay, P. K., Pandey, A. K., Shukla, P., & Tripathi, P. K. (2025). Linkages of managing talent and succession planning in selected listed firms: A board of director’s vision. Corporate Board: Role, Duties and Composition, 21(1), 8–16. https://doi.org/10.22495/cbv21i1art1