Succession planning

Succession planning

Succession planning is a process of determining critical roles within the company, identifying and assessing possible successors, and providing them with the appropriate skills and experience for present and future opportunities.

A careful and considered plan of action ensures that the least possible disruption to the person’s responsibilities and therefore the organization’s effectiveness.

Examples include such a person who is

suddenly and unexpectedly unable or unwilling to continue their role within the organization;

accepting an approach from another organization or external opportunity which will terminate or lessen their value to the current organization;

indicating the conclusion of a contract or time-limited project; or

moving to another position and different set of responsibilities within the organization.

A succession plan clearly sets out the factors to be taken into account and the process to be followed in relation to retaining or replacing the person.

In other words succession planning comprises of these important steps -

Recruitment and staffing - you recruit superior and right employees
Training and development - you train the employees to develop their knowledge, skills and abilities
Performance and Compensation management - prepare them for advancement or promotion into ever more challenging roles
Other (in which talent management plays a role) - you are prepared to retain or replace superior employees

Typical activities are

-Determine what roles and skills are critical for the growth of the company
-analyze and address the gaps revealed by the planning process
-identify and understand the developmental needs of employees to fill those positions
-ensure that all key employees understand their career paths and the roles they are being developed to fill
-train people for skills and positions that are not presently existing in the company
understand the time needed to backfill key roles
-enrich succession plans through regular executive discussion of people and posts
-identify top performers in all departments and make sure that they are engaged and satisfied to stay with you for a long period
-continually review and check the process of succession and whether planned individual development has taken place

Succession planning is a process by which successors are identified for key positions throughout an organization including vital roles in each department of the organization. It should take into account the strategic vision and objectives of the organization. With good succession planning in place, employees are ready for new leadership roles so when someone leaves the company, another is skilled and ready to step-up to that position. Succession planning can also help develop a diverse workforce, by enabling senior management to look at the future goals of the organization as a whole.

So the key issues the HR professionals should consider while developing a succession plan are

Strategic plans and future goals
Workforce requirement
Knowledge retention and critical roles
Talent management strategies .