IMI: Succession planning will unlock more productive power in your workforce

Investing in people gives firms the best chance of success, writes Pedro Angulo

Many companies fail to pay enough attention to succession practices.

The only source of long-term sustainable competitive advantage is people and the culture they create by working together. While competitors can replicate our products, structures, processes and technology, they cannot do the same with our organisation’s culture.

Investing in people is the kingpin to executing strategic objectives as well as giving organisations the best chance to be successful.