Hbc leverages the power of succession during change

Abstract

Purpose

The purpose of this paper is to demonstrate how Hudson's Bay Company (Hbc) developed an integrated talent management strategy and anchored succession planning as a key strategic lever to build and retain top talent.

Design/methodology/approach

The paper provides a description of Hbc's experience of building and developing a talent management strategy, the motivation and need behind it and how succession was used as a strategic tool in mitigating risk through external labor market pressures as well as a takeover.

Findings

The paper established a model talent management strategy and its different aspects, mainly succession planning. It also articulated the thinking behind it, the processes around it and benefits from it.

Originality/value

This paper offers organizations a view into the benefits of developing a sound talent management and succession strategy and leveraging its power to engage top talent.

Citation

Murray‐Leduc, S. (2008), "Hbc leverages the power of succession during change", Strategic HR Review, Vol. 7 No. 1, pp. 16-21. https://doi.org/10.1108/14754390810847513