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Succession Planning Model, Business Succession Planning
What is Succession Planning?
Succession planning is a process of determining critical roles within the company, identifying and assessing possible successors, and providing them with the appropriate skills and experience for present and future opportunities.succession planning model
In other words succession planning comprises of these important steps -
* Recruitment and staffing - you recruit superior and right employees
* Training and development - you train the employees to develop their knowledge, skills and abilities
* Performance and Compensation management - prepare them for advancement or promotion into ever more challenging roles
* Other (in which talent management plays a role) - you are prepared to retain or replace superior employees
Typical activities covered by succession planning include -
* Determine what roles and skills are critical for the growth of the company
* analyze and address the gaps revealed by the planning process
* identify and understand the developmental needs of employees to fill those positions
* ensure that all key employees understand their career paths and the roles they are being developed to fill
* train people for skills and positions that are not presently existing in the company
* understand the time needed to backfill key roles
* enrich succession plans through regular executive discussion of people and posts
* identify top performers in all departments and make sure that they are engaged and satisfied to stay with you for a long period
* continually review and check the process of succession and whether planned individual development has taken place
Succession planning is a process by which successors are identified for key positions throughout an organization including vital roles in each department of the organization. It should take into account the strategic vision and objectives of the organization. With good succession planning in place, employees are ready for new leadership roles so when someone leaves th
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