Succession Planning

Succession planning in an organization helps identify specific individuals to fill future vacancies in key positions.  An organizational replacement chart forms the basis for the process of succession planning.  A ready talent pool should be available in the organization to provide resources for immediate replacement.  Succession planning helps in identifying the future incumbents of key positions in an organization.  It gives an overview of the present incumbents and the prospective replacements.  However, information technology has made it easier for the organizations to carry on their succession planning as a continuous exercise. 

 

Effective succession planning incorporates the following elements:

 

Continuity.  Succession planning should not be an annual event.  The management should rather create an environment to facilitate continuous succession thinking.  Regular and continuous communication can help the management in reaching this stage of organizational development. Every manager should strive to develop at least one candidate as a potential replacement.

 

Long-term Perspective.  A ready pool of talent should be available in the organization to provide resources for immediate replacement.  Development of the employees in general has to match high standards to ensure ready availability of replacement, when the need arises.

 

Organizational Need Perspective.  The organization should develop a culture where external recruitment for key positions is normal in the absence of internal talent.  In case an organization needs some fresh or external talent, the employees of the organization should be in a position to accept it as natural and justified decision.

 

Turnover Management.  Appropriate action plans to generate turnover have to be developed to avoid positions becoming blocked.  A normal and healthy turnover rate ensures a free flow of manpower across thelength and breadth of the organization.

 

Emphasis on Results. Measurements to evaluate succession results have to be developed.  The measurements can include factors like the percentage of key jobs which have at least two ready successors, the percentage of key posts filled externally, the percentage of developmental action plans implemented or the extent to which the process contributes positively to business results.

 

 

Succession planning incorporates the following objectives:

 

1. Identifying a latent pool of talent in the organization
2. Development of the talent pool
3. Clear career plan and vision for the employees
4. Opportunity for career advancement
5. Bridge the gaps between executive talent and skill sets
6. Choosing the best talent for vacancies
7. Taking advantage of the talent pool within the organization which would adapt far better than outside talent
8. Align with other Human Resource initiatives
9. Continuity and Quality of the leadership
10. Business success.