A succession plan is simply the result of HR planning and management of its employees as they move throughout the company. It provides a plan and process for the inevitable departure of employees at all stages of the employee lifecycle. The succession plan is meant to develop employees from within—with the right hire, developing your current staff to advance can be more beneficial than constantly recruiting and training outside hires. With that said, it is clear that an effective, fine-tuned succession plan is necessary to provide your team members with the means to advance when the time comes. Here are some ideal succession planning practices to fine-tune your organization’s succession plan.
- Assess your organization’s current and future needs based on goals and objectives, strategic plans, and developmental opportunities.
- Match the future and current needs to the capabilities of your existing workforce—all of your workforce, down to the entry-level positions.
- Develop a plan for managing gaps that appear when individuals in key positions depart or are promoted.
- Appoint the correct people to manage the succession plan for their respective category of workers—the executive board should handle succession planning for top-tier level workers, while mid-level managers should handle mid- and entry-level workers.
- Provide necessary development and training opportunities to your employees—not only does this prepare them to take on a new role, it also boosts their engagement and desire to advance within the organization.
- Identify which individuals are most qualified, prepared, and willing to take on a new position if one opens up. Employee assessments such as Talexes’ help you identify if a candidate can and will do the job
There are numerable benefits of succession planning. Some include making your employees feel valuable, ensuring your organization is organized and prepared for turnover, constantly motivating and training your team, and polishing strategic plans in the long run.
Talexes’ suite of employee assessments allows you to assess employees at every level of your organization so you can accurately tailor your succession plan accordingly.