Succession planning

Succession planning is: The process

of ensuring a suitable supply of
successors for current and future
senior or key jobs arising from
business strategy, so that the
careers of individuals can be planned
and managed to optimize the
organisations needs and the
individuals aspirations.

What is Succession
Planning?
A deliberate and systematic effort by
an organization to ensure leadership
continuity in key positions, retain and
develop intellectual and knowledge
capital for the future, and encourage
individual advancement.

Need for succession

planning
To identify and develop people to replace
current jobholders in key positions.
Through succession planning, compares
assure a steady flow of internal talent to
fill important vacancies.
Succession planning encourages hiring
from within and creates a healthy
environment where employees have
careers and not merely jobs.

 It helps in identifying human resource

shortages and skill shortages before
openings occur. Thereafter, it becomes
easy to groom qualified candidates for
future vacancies. The organization is thus
assured of continuity of operations and
better-qualified incumbents.
Preparing a schedule for succession is
critical to the success of a company,
especially at the top level. over a period
of time, disruption and dislocation are
minimized.

 The absence of a succession plan can

seriously hamper the growth prospects of an
organization. Imagine the disastrous
consequences when there is a sudden
vacuum at the top level. There is no one to
steer the ship.
Critical plans needing immediate action get
postponed. The organization remains
headless and directionless for a while.
Suitable candidates may not be available
internally, as no one has been groomed in the
past, keeping such an eventuality in mind

 Bringing in outsiders may mitigate the

crisis temporarily but the long-term
impact is bound to be negative.
Internal forces may start a rebellion and
create tug-of-war situations.

Significance of Succession Planning

Ensures that employees are recruited and/or developed to fill
each key role.!
Ensures that we operate effectively when individuals
occupying critical positions depart.
May be used for managerial positions or unique or hard-to fill
roles.
Align bench strength for replacing critical positions.
Cost effective compared to recruitment
Filling the gaps of actual & present
Good productivity
A better training plan
Prepared for future challenges
Continuiyty in leadership

Steps in the process

Phase 1: Identify Key/Critical
Positions
Phase 2: Conduct Position Analysis
Phase 3: Develop Succession Plan
Phase 4: Monitor, Evaluate, Revise

Phase 1: Identify Key/Critical

Positions
Key Contributor- in achieving the
organizations mission or would hinder
vital functions
Specialized Leadership The position
requires specialized or unique expertise
Geographic The position is the only
one of its kind in a particular location
Vacancy- Position will be vacant due to
retirement/advancement in the
organization/lateral moves

Phase 2: Conduct Position

Analysis
What are the external and internal
factors affecting this position?
What competencies or skill sets
will be required?
What are the gaps (competencies or
skill sets not possessed by the
current staff)?
What strategies will be used to
address the gaps?

Phase 3: Develop Succession

Plan

The succession plan is the culmination

of Phases 1 and 2.
Reviews of the individual positions and
high turnover job classes are rolled into
one document and gaps and strategies are
formulated at an organizational or unit
level.
The strategies to overcome the gaps are
outlined to include target completion
dates, responsible parties and required
resources.

Phase 4: Monitor, Evaluate,

Revise

Select evaluation period-typically reviewed

annually
Be prepared to respond rapidly to unforseen
changes to the plan
Status/Progress updates should be
monitored via the succession planning
template and EPAs (depends what Holly
choses here)
(Is this a good point to go into tools and add
presentation of strategy?)

Continuity of leadership & its impact

Leadership Continuity is a systematic
approach towards ensuring theres
sufficient bench strength at any
given time with the skills, knowledge
& abilities
Critical elements of succession plan
include:
Identification of high potential
candidates
Structured mentor initiative
Directed developmental assignments