Succession planning is the process that identifies and prepares talented employees to step into key positions and leadership roles and ensures that they have the skills, experience, and knowledge to meet changing work requirements.
Succession planning is recommended for companies that have a staff complement of 100+ staff members.
Benefits of Succession Planning
Job specific, work experience and achievements
Job specific, work experience and achievements
Specific areas of expertise
Using staff performance management and relevant policies, which reinforce the purpose of this policy
Allowing candidates into different departments or sections for training and experience before they are needed
Goals of Succession Planning
Succession readiness
Identify potential successors
Individual development and engagement
Human resource development
Improved retention
Empowers and motivates employees
Enables long term planning
Enhancing employee engagement
Fostering professional development
The Process of Succession Planning
1
Talent Identification – Key Positions, Key Capabilities and Required Knowledge
2
Job Descriptions and Identification of specifications
3
Replacement Plan for each position.
4
Forecast promotability
5
Evaluate training / development / experiential needs.