Succession Planning

Succession planning ensures your organization has highly qualified people in all positions not just today, but tomorrow, next year, and five years from now. The succession planning process accomplishes this by establishing a process that recruits employees, develops their skills and abilities, and prepares them for advancement. Simultaneously, the need to retain talented individuals to ensure a return on your training investment is attended to via employee retention programs and processes.

The numerous benefits of implementing a Succession Plan within an organization include:

• Avoids disruption and loss of productivity when an individual holding a key position within the organization leaves
• Assures continuity of leadership
• Engages senior management in a formal review of the company's leadership talent
• Links selection systems, reward systems, and employee training and development with the organizational process designed to assure continuity of leadership

Succession planning involves:

• Understanding the organization's long-term goals and objectives
• Identifying the workforce's developmental needs
• Determining workforce trends and predictions

In the past, succession planning generally targeted only key leadership positions. However, in today's organizations, key positions in a variety of job categories are also included in the succession planning process.

When an organization has in place an effective and utilized succession planning process, employees are ready for new leadership roles as the need arises. In addition, when someone leaves, a current employee is ready to step up to the plate. Finally, succession planning can help develop a diverse workforce by enabling decision makers to look at the future make-up of the organization as a whole.

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