Make sure your organisation successfully plans for the future.
We define succession planning as a ‘systematic process whereby organisations identify, assess and develop their employees to ensure they are ready to take on key roles within the organisation’.
Organisations cannot afford to underestimate the importance of succession planning and the need to have formal plans in place.
Any succession planning initiative or plan must be aligned to the medium and long-term business strategy, thus ensuring an organisation is creating sufficient talent to manage its business growth objectives.
Succession planning isn’t always about moving upwards in an organisation. Increasingly, and in the current economic climate, moving sideways is an important part of developing organisational capability and providing personal development. It also goes a long way to retaining talent.
As well as looking outside the organisation, look outside a department or team where there is a succession issue. Succession candidates should be able to come from any part of a business providing they personify organisational values and preferred behaviours.
By actively following a succession plan, employees are developed to fill unexpected gaps; to step into an unexpected departure, but most importantly to ensure the continuity and future growth of your organisation.