Succession planning is a process whereby an organization ensures that employees are recruited and developed to fill each key role within the company. Through your succession planning process, you recruit superior employees, develop their knowledge, skills, and abilities, and prepare them for advancement or promotion into ever more challenging roles.
Through your succession planning process, you also retain superior employees because they appreciate the time, attention, and development that you are investing in them. To effectively do succession planning in your organization, you must identify the organization’s long term goals. You must hire superior staff.
You need to identify and understand the developmental needs of your employees. You must ensure that all key employees understand their career paths and the roles they are being developed to fill
You need to focus resources on key employee retention. You need to be aware of employment trends in your area to know the roles you will have a difficult time filling externally. (http://humanresources.about.com/od/g...essionplan.htm)
Not sure if you may find some tidbits that may be of value to you in my random thought firings
Succession planning is a process, not a project
• Bench strength. Have a pool of ready-now candidates to fill critical leadership positions.
• To retain more of your top performers and they see opportunity to advance their careers. Creates loyalty
• To reduce recruiting costs.
• To make sure the right people are in the right positions.
• Opportunity for leaders to cascade corporate goals for future business success
• Reduce administrative time and costs
• Optimize your team’s talent to create a competitive advantage
• Easily manage succession, development, career, assessment planning and performance appraisals
• Prepare for the future and promote superior talent from within for sustaining leadership in business
• Optimum retention of key leaders and reduce turnover/reduce attrition rates
• Identify the core professions, practices and competencies critical to your business success.This should tie into your recruitment process
• Determine what activities and processes create value in your business..
What is required before you begin:
•There are clearly defined leadership competencies and standards required for success
•Assessment tools including testing, interviews, performance reviews, job descriptions etc. are part of your practices and are used to provide an objective evaluation of a manager’s strengths and weaknesses
•Structured performance feedback is provided to assess progress in developing leadership competencies
•Succession planning is integrated with recruiting, selection, development and retention processes
•Strong well developed coaching skills by leaders
•The leadership and commitment of senior management
• Well developed interpersonal leadership skills
•Well communicated vision and values philosophy throughout the organization
Cheers and luck,