Succession Planning
Effective human resource planning incorporates succession planning for multiple positions in an organization not just for the executive level.
Companies that have focused plans for developing and placing “A” players at all levels boast of a dynamic and motivated workforce.
Where Do You Start?
The first step in creating a talent pipeline is to conduct an audit of the competencies required in key positions and an assessment of your current talent pool. Through this audit, it will become apparent that not all your employees are wired for advancement into management yet their skills and knowledge are valuable assets that should be harnessed and leveraged.
High potential employees should be fast tracked and exposed to a variety of development opportunities such as:
- Mentoring and coaching
- Special projects and job sharing
- Membership on committees and Boards
- Work experience abroad or in sister companies
- Formal learning and training
As the talent pool shrinks across all workplaces, organizations will have to work harder to retain skilled people and become more creative in recruiting talent externally. High performance organizations that recognize and reward peak performance while providing clear career paths for all will become employers of 'choice', not of 'chance'.