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Number of successors for a role, diversity of succession pipeline, readiness level of each successor. A simple rule of thumb that you can use is: you want at least 3 possible successors, one immediate; one in 12-18 months, one in 18+ months. Those combos can change. There isn’t an objective formula for what “good” bench strength looks like.
How do you determine readiness? Qualitatively?
You could do it quantitatively as well, I guess but hard to measure some of the constructs associated with leadership behaviour. We used a combination of psychometrics, interviews and performance history over time in the current role.