CHICAGO, IL- Diversity MBA Magazine, a national leadership publication targeting managers, executives in leadership; professionals, students, and the business community; publishes its seventh annual list of “50 Out Front for Diversity Leadership: Best Places to Work for Women & Diverse Managers Ranking – Best in Class Companies for SUCCESSION PLANNING.
Diversity MBA Magazine additionally recognizes Best in Class companies that have demonstrated outstanding systems, impact and results in their benchmarking categories of recruitment, representation, board diversity, succession planning, workplace inclusion & retention, and accountability. This release recognizes the Top Ten Companies that have leading practices in the category of SUCCESSION PLANNING.
Diversity MBA Magazine is pleased to name the “TOP TEN BEST IN CLASS COMPANIES FOR SUCCESSION PLANNING ” (in alpha order) include: Accenture, ADP, Bank of America, CSX, DIAGEO, GE, Intel, McDonalds, Verizon Communications and Xerox.
Today’s savvy companies absolutely have robust succession planning processes and systems in place to ensure that diverse candidate slates are represented in key leadership roles. In order to ensure that access is achieved beyond the opportunity, companies must develop intentional succession strategies for women and people of color to gain leadership assignments, global exposure and executive sponsors. In our research succession planning is one of the most critically weighted areas, because the outcome is women and people of color in senior leadership roles with a developed executive pipeline. This is where Diversity MBA Best in Class for succession planning stands apart. They get that the cultural competencies and differences are imperative to success.
Our top ten companies have intentional strategies to ensure women and people of color show up in their most senior leadership roles and are prepared in the pipeline:
Some interesting Findings based on Diversity MBAs Results include:
- 90% of 50 Out Front companies have succession planning processes to track and identify talent
- 79% of 50 Out Front companies require diverse slates represented at the senior level opportunities
- 21% of 50 Out Front Companies have intentional succession strategies for women and people of color
- Top ten best in class companies have 40-50% diverse candidates in their high potential talent pools as compared to less than 10% on average for the 50 Out Front Companies
- Top ten best in class companies promote 40-50% of high potential diverse candidates to executive roles
- 78% 50 Out Front companies have executive sponsors but only 28% have formal programs
With less than 10% total of women and diverse Fortune 500 CEOs, it is obvious much work still must be done in the area of succession. Pam McElvane, CEO & Publisher, says,” the top ten companies for Best in Class in the category in Succession Planning are demonstrating leading practices that are second to none.”
Diversity MBA Magazine will also be recognizing Top Regional Companies, and specialty list including; executive and talent development; employee resource groups; supplier diversity; veterans, disability, LGBT, and the most innovative programs and/or initiatives.