Succession Planning for a 500-Employee Company: How Do You Start and Manage It?

Hello all,

I am sure you all must have heard and read about Succession Planning. I want to know the practical aspects of it. How to start the process in a company where there are 500 employees and how to go about it.

Thanks,
deeps

I am attaching a document by Public Service Agency, Canada. They have provided detailed steps that can be adapted to suit one's needs.

Swati

It begins with identifying the attrition rate. If it's high in a particular department, then target that first.

1. Identify the key positions.
2. Identify the qualities required to fulfill that role.
3. Identify the likely successors, a minimum of 2 to 3 for each key role.
4. An assessment center is a reliable way to identify, but if it seems costly, then assign a rating/numbers to the qualities identified for the role and rate each of them as per the requirements. Sum up all the ratings; the highest scorer is successor 1, and the rest would be the 2nd likely successor and so on.

Deepa Thakkar.

Thank you a lot for your responses on Succession Planning. If any of you can also help me out with a real-time case, preferably of an Indian Company.

Thanks,
deeps

Dear Deepti,

I had my summer training on succession planning itself, and all the steps I mentioned have been successfully implemented in a steel giant where I did my internship.

Deepa