Process For Business Succession Planning & Management

Nov 8

The practice of business succession planning and management is an important part of the overall human resource planning process. It entails a comprehensive, systematic strategy to discovering, developing, and retaining talented and skilled workers in accordance with present and future business goals.

Determine Key Area & Position

The operational activities and strategic objectives of the organization are dependent on key areas and positions.

Determine which jobs, if left empty, would make achieving current and future corporate objectives extremely difficult
Determine which roles, if left empty, would jeopardize the health, safety, or security of the organization

Identify Key Areas & Positions Capabilities

Determine the capabilities required for the key areas and jobs to establish selection criteria, target employee development activities, and set performance goals.

Determine what knowledge, skills (including language), talents, and competencies are required to meet company objectives
Use the profile of Key Leadership Competencies
Employees should be informed about critical areas, positions, and essential skills

Office Worker

Identify Potential Employees & Evaluate Their Capabilities

Determine who is interested in and capable of filling important positions and areas.

Employees should be asked about their career goals and interests
Determine whether important sectors and positions are at risk, as well as applicants who are ready to advance or whose abilities and competences could be enhanced in the time allotted
Ensure that feeder groups for critical sectors and positions have a sufficient number of bilingual candidates and members of designated groups

Create & Implement Plans For Succession & Knowledge Transfer

Incorporate learning, training, development, and corporate knowledge transfer initiatives into your succession planning and management.

Define the learning, training, and development experiences that your company requires for leadership and other critical positions
Connect employees' learning plans to the information, skills (including language), and talents needed in their present and future jobs
Talk to your staff about how they can pass on their company expertise

Evaluate The Efficiency

In order to secure the following, evaluate and monitor your succession planning and management efforts:

All major sectors and positions have succession plans in place
Key roles are soon filled
New hires in crucial roles perform admirably
Members of designated groups are well-represented in feeder groups for crucial areas and posts