Big data use vital in CEO succession planning, says executive search firm

Share this page

Written on 30 April 2015 in News

The study found that current practices are largely insufficient in determining if candidates have the potential to make the step up to CEO level

New research which recommends that big data should be harnessed for the purpose of planning CEO succession has been endorsed by executive search and selection firm Veredus.

This is in line with findings from The HR@Moore Survey at the University of South Carolina which looked at the assessment of CEO successor candidates at 560 large US-based companies. The study found that current practices are largely insufficient in determining if candidates have the potential to make the step up to CEO level.

Although 95 per cent of companies surveyed used past performance profiles when assessing internal candidates, Patrick Wright, chairman at the University of South Carolina, recommends that the assessment processes must address three things: performance, capability and potential.

He said: “Because the CEO role requires an almost exponential change in complexity, accountability, visibility, and communication, we suspected firms would invest heavily in gathering as much information as possible. However, this proved not to be the case.

“More information gathered over the course of a candidate’s career would provide a greater foundation for accurately predicting who will quickly and effectively adapt to these increased requirements.”

Speaking on Wright’s findings, Nick Owen, CEO of executive search and selection firm Veredus said: “Recruiting at senior level is no mean feat as the skills required of a CEO are broad, complex, and often ambiguous. The role of a CEO places new requirements on an individual that they may have never even experienced before and, as such, single or disjointed performance indicators are unlikely to be effective in determining the best candidates. By using all available data when mapping the careers of their employees, organisations can ensure that talent is effectively developed and pipelined for the future. Companies who fail to capitalise on the analytical capabilities that contemporary data management systems offer are certainly missing a trick.”


Please login to post a comment or register for a free account.

Related Articles

30 September 2022

Cass Coulston explores recent research into ways of leading and thriving in a hybrid work environment 

21 September 2022

A look at the best stories, research and news in HR, talent, learning and organisational development as selected by the TJ editorial team.

27 September 2022

David B Horne investigates cognitive bias and its effect on women’s access to education and career opportunities

Related Sponsored Articles

14 January 2022

Anthony Santa Maria on how personalised learning builds future-ready workforces

5 January 2015

Vincent Belliveau, Senior Vice President & General Manager EMEA at Cornerstone OnDemand, explores the benefits of internal recruitment

15 December 2021

We need to do a better job of preparing young people for the world of work, so they can make informed choices and build fulfilling careers.