Around 80%-90% of organisations say they are confident in succession plans, but BFSI HR leaders said that confidence often collapses when one or two critical leaders exit unexpectedly.
People Business Consulting research showed only about one-third of roles are ultimately filled internally, while just 40% of organisations have structured learning journeys tied to target roles and individual needs.
Panelists said succession planning must shift from replacement charts to future-ready capability building, with AI, digital fluency, cybersecurity and regulatory agility now central to leadership readiness.
Internal development remained the preferred route, but leaders said external hiring is justified when pipelines are shallow or new capabilities cannot yet be built in-house.
The discussion framed succession as a board-level business imperative in BFSI, where regulators, investors and customers all have a stake in leadership continuity and minimal disruption.