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Importance of Succession Plans

Question:

Are succession plans really essential in the workplace?

Answer: 

ABSOLUTELY!  Regardless of how “formal” your plan is, succession planning is essential!  These plans or even identifiers allow organizations to establish the groundwork for the training and development of potential successors in the organization for roles left open due to retirement or attrition.  Effective use of a succession program in conjunction with the performance management program will allow for:

  • development of staff and visible career paths for employees which will potentially improve retention
  • the ability to identify potential “high performing employees” that could move into other roles or up through the company
  • a clear review of the skills in your workplace and what is “missing”
  • the comfort that your company is planning for the future

Succession plans allow you to evaluate current employee skills and determine what you need to do to develop their skills to move into other roles with in the organization.  You can determine gaps in your organization and determine next steps.  Do you provide training?  Do you provide a mentor to help improve skills and even approach in some instances?  Do you need to consider your next hire as a potential successor for a specific role?  You won’t know unless you think about it.  Look at those around you and continue to develop them…they may be your next leader!

For a company to grow it often involves a lot of change. HR Strategy isn’t just about planning for the change, sometimes it means coping with the aftermath of creating change. Given the individual nature of humans there is no cookie cutter answer for dealing with change; the solution is as individual as each person in the organization. If you are struggling with change in your organization we can help. Visit our HR Strategy page to learn more about how strategic HR, inc. can help you with your strategy for change.