This measure projects the percentage of senior management/executives (i.e. the highest-ranking officers and managers below executives) that have succession planning processes in place. These processes ensure employees are recruited and developed to fill each key role within the company. This measure is part of a set of Process Efficiency measures that help companies optimize the performance of their "develop and manage human resources (HR) planning, policies and strategies" process by minimizing waste and refining resource consumption.
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Percentage of senior management/executive employees who have a formal succession planning process in place
Process efficiency represents how well a process converts its inputs into outputs. A process that converts 100% of the inputs into outputs without waste is more efficient than one that converts a similar amount of inputs into fewer outputs.
The metric value which represents the 50th percentile of a peer group. This could also be communicated as the metric value where half of the peer group sample shows lower performance than the expressed metric value or half of the peer group sample shows higher performance than the expressed metric value.