Every organisation should have a succession planning programme , including an integrated human resource process that involves training and development. /Reuters
Succession planning is a process whereby an organisation ensures that talented employees are recruited and developed to fill key roles within the company.
Through succession planning, a firm recruits superior employees, develops their knowledge, skills, and abilities, and prepares them for advancement or promotion into more challenging roles.
This is done by having a systematic process where managers identify and assess their staff over a period of time.
It is important for an organisation to have this process as part of its strategic plan because it projects future personnel changes and determines how they will be met.
The current demographic trend worldwide is pointing towards leaner times for organisations and the increasing importance of preparing to replace one leader with another.
Leadership transition is an integral process in any firm and it presents a remarkable opportunity to move forward with a new way of management.
Succession plan is important because the employees identified will ultimately ensure that the company will tackle its future challenges.
This is because they are carefully selected, trained and developed to gain skills and competencies needed for the future business environment.
Succession planning creates skilled people able to take the weight from the managers because they are talented and developed people.
Managers can focus on bigger corporate issues.
Succession planning strengthens leadership capacity throughout the organisation and facilitates a highly successful transition by reducing dependency on a single individual.
This saves time from the fire fighting that happens when key people leave the organisation because the successors will pick up the loose ends.
This creates a healthy business future because the organisation will clearly stipulate how each job will be done.
The successors can come up with new ways of steering the corporate ship.
This builds business confidence and grows the team because the organisation has the best people in place to make the right judgment and lead the organisation into the future.
Financial and emotional rewards arise out of properly planned succession plans. The gains could be as a result of improved earnings which the organisation can use to reward its employees.
The emotional returns will arise out of the creation of a brilliant team that will make sure the firm has a sustainable future; this will effectively deliver sustainable focused business growth.
For any corporate organisation to come up with an effective and workable succession plan, the following key points should be considered.
The management should start with the end in mind, for example.
The vision of the desired outcome because this will act as a road map for navigating the challenges ahead.
In the vision, which should be shared widely to all staff, the organisation should define the major issues it is likely to face in the future.
The organisation should look at minimising its risks in future to ensure that the staff are protected. Proper legal documentation must be in place to ensure that the organizations efforts are comprehensive and well implemented.
Management systems and processes must be strengthened, for example continuous organisational improvement, high quality services and products.
The management should identify the gaps between the required leadership and the existing talent pool.
This will help establish if the firm needs to promote from within or do an external search. The organisation should also ensure a good fit between a potential leader and the firm’s culture because matching the leader to the desired culture is vital.
It is important to build a profile of the future organisation as they want it to be, what key jobs are involved and core competencies required. This can be done by taking stock of what the firm has at hand and what it might need in future.
Every organisation should have a succession planning programme backed by the company’s top level management. It must be part of an integrated human resource process that includes training and development.
The firm should identify and document the skills and positions that will be need in future say 20 years to come and identify the high performers who are ready to step into these positions.
This long term view will enable the organisation to study and analyse the workforce requirements, responsibilities, skills and competencies that will be needed.
Ultimate goal It can be said that the ultimate goal of leaders is to work themselves out of their jobs. Effective leaders plan an exit that is as positive and graceful as their entrance was.
Visionary organisations enjoy long-term success because of their strong focus on succession planning and leadership development. These companies develop, promote, and carefully select managerial talent from inside the company.
Leaders are expected to have a strong vision of what a successful future will look like, and they are expected to create a solid foundation for growth.
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