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Succession Planning
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Succession Planning
One variant of career Planning is succession planning.
Career planning covers executives at all levels.
Succession planning is done for some senior positions only.
It aims at identifying those individuals who stand a chance of succeeding an executive on his retirement.
The plan also gives a comparative view of individuals in terms of their age,present performance and promotability.
It may use different colour tabs to indicate the current level of an individual s promotion potential.
The plan is generally regarded as highly confidential.
Effective succession planning should begin years or even decades before critical vacancies arise.
Components of effective succession planning
Organisations need to ensure that their human resource practices support the recruitment,development and retention of appropriate leadership personnel.
Succession planning should be based on agreed principles, provide a breadth of experiences critical to leadership, and be active at all levels of organisation.
Effective succession planning identifies future organisational needs, potential future leaders,inspire leadership aspirations, bases the selection processes and program design on future leadership capabilities, creates pool of talent etc.
Effective succession planning provides for the development of future leaders and the on-going development and retention of current leaders.
An intensive comprehensive initiative.
It is a part of the overall planning process, one that starts with a strategic plan and the assessment of resources needed for it. The resource is human resource.
Developing a management group with the leadership competencies needed to achieve the strategic plan is known as succession planning.
Succession planning includes three steps-1. Businessundergoes an overall assessment to identify the problems and opportunities.
2. Develop a compatible plan and make a commitment to implementation.
3. Keep in mind that succession planning is a process , not a project.
Succession planning should be supported by the top level management.
Identify the critical performers who are ready to step into critical prositions.
A systematic approach for identifying , nominating and selecting potential successors must be developed.
Succession planning should belong to the organisation, not to the HR department.
Key Elements in Succession Planning
1. Candidate selection
2.Experience
3.Training and Development
4.Visibility
5.Time period.
1. Candidate selection
A healthy mix of internal promotions and external hires creates both a foundation of continuity and an infusion of new ideas.
2.Experience
Leadership candidates should be given experience in different parts of the company.
The purpose is to allow them to meet key employees, key suppliers,and important customers.
To build trusting relationships.
Training and Development
Visibility
A succession chart
Succession book showing the candidate s background,and education, career progress and trining achievements is used in the companies.
Community activity by leadership candidates-Allows board members to see leadership candidates in action in different settings.
Time period
Succession planning must be planned years in advance of expected needs.
Advantages of succession planning
On-going supply of well trained, broadly experienced,well motivated people
Cadre of desirable candidates who are being integrated into the agency with positive goals
Alignment of the future needs of the agency with the availability of appropriate resources within the agency.
Identify people who can move to crucial positions.
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