Document Type
Report
Abstract
The COVID crisis impacted just about every aspect of how firms do business. We have explored through Zoom meetings and a survey of Chief HR Officers how the crisis has impacted a variety of components of executive succession. We find that the crisis caused many firms to develop business continuity plans separate from their ongoing and emergency succession plans. Going through this process may encourage firms to look more broadly and deeply into the people and roles in their ongoing succession processes. The crisis also revealed more positive than negative characteristics in their leaders. CHROs noted that the crisis has increased the use of virtual technologies for both initial interviews of ELT candidate, and for the entire hiring process, and the vast majority suggested that the use of technology throughout the hiring process will continue to see substantial increases after the crisis ends. Finally, the crisis required board meetings to be held virtually. While CHROs do not expect this to be predominant in the future, they did indicate that approximately one quarter of board meetings will be held virtually after the crisis has passed. We discuss the implications of these findings.
Publication Date
2020
Disciplines
Business
Copyright
© 2020, University of South Carolina
Publication Info
2020.