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 In order to
develop a comprehensive succession strategy the organizations' leaders
should develop a strategy that fits its own specific needs.
The following is the basic criteria required for any succession plan
to succeed:
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Best-practice
organizations make succession management part of an overall
focus to develop managers at all levels.
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Successful
planning requires ongoing commitment of top management.
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Leadership
skills, and quantity of management talent, should
be linked to the organizational strategy.
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Clearly
define the specific behaviors, skills and values that leaders
need in order for them to succeed now and in the future.
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Assessment
tools such as assessment centers, tests, interviews and a
performance-appraisal process allow for
accurate leadership placement and development decisions.
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Integrate
succession management with recruiting, selection, retention and
development systems.
A succession
strategy is a valuable tool used by best practices companies to grow
their own leaders and ensure continuous development within a
shifting global economy. Success by planning is an investment that
business leaders are recognizing as an important goal in
achieving the long-term vision.
What is succession planning?
The definition of
succession planning is a process of career moves and or development
activities that are planned for the purpose of grooming future
successors. Successors may be fairly ready to do the job (short-term
successors) or seen as having longer-term potential (long-term
successors).
What do organizations want from succession planning?
Organizations use
succession planning to achieve a number of objectives including:
-
Improved job
filling for key positions through broader candidate search.
-
Active
development of longer-term successors through ensuring their
careers progress, and range of work experiences needed for the
future.
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Auditing the
‘talent pool’ within the organization.
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Fostering a
corporate culture through developing a group of people who are
seen as a ‘corporate resource’ who share key skills, experiences
and values.
It is
the active development of a strong ‘talent pool’ that is
now seen as vital to attract and retain the ‘best’ people.
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