SUCCESSION PLANNING
Meaning of Succession Planning Succession planning is the process or
activities connected with the succession of persons to fill key
positions in the organization hierarchy as vacancies arise. The focus of
attention is towards ‘which’ person the succession planning is needed.
The focus is not more on career development but it is more towards what
kind of person is required to fill the future vacancy. Succession
planning focuses on identification of vacancies and locating the
probable successor. For example in succession planning the key concern
can be who will be next CEO or what will happen if the Marketing Manager
retires in coming March.
Importance of Succession Planning
• Succession planning helps when there is a sudden need arises due to reason or retirement of a key employee.
• Individual employee comes to know in advance the level to which he can rise if he has the ability and aptitude for it.
• Individual employee or successor feels happy when he feels that organization is taking care of his talents and aspirations.
• Succession planning helps create loyalty towards the organization and improved motivation and morale of individual employees.
• Organization gains stable workforce and low employee turnover. •
Ultimately organization becomes successful in accomplishing its goals
effectively.
Need for Succession Planning
Succession Planning is the systematic and deliberate process of
ensuring the availability of highly qualified people for all positions
not only in the present time, but at any point in the future as well.
Succession Planning
Many Definitions-from websites/books/journals
• The process that helps ensure the stability of tenure of personnel
• Any effort designed to ensure the continued effective
performance of an organization, division, department or workgroup by
making provision for the development, replacement and strategic
application of people over time
• A means of identifying critical positions (usually
managerial) starting at the levels of project manager and supervisor and
extending up the highest position of the organization and preparing
people to move into those jobs, often to replace employees who are
leaving
• Succession planning describes management positions to
provide maximum flexibility into lateral management moves and to ensure
that as individuals achieve greater seniority, their management skills
will broaden and become more generalized in relation to total
organizational objectives as opposed to department objectives
• A deliberate and systematic effort in an organization to
ensure that key leadership continuity is key positions retain and
develop intellectual and knowledge capital for the future and encourage
individual enhancement
• Planning occurs when an organization adopts procedures
and practices that Identify, develop and work toward long term retention
of talented individuals
Why we should do succession planning
• To accelerate the development and improve the retention of talented people.
• To identify ongoing needs for replacement and design appropriate training and employee development programs;
• To increase the pool of talented employees to fill key positions;
• To add value to the organization’s strategic plan and contribute to ongoing business strategies;
• To ensure individuals receive appropriate developmental opportunities and are successful in their career goals;
• To ensure that the organisation has full access to the intellectual capital of their employees
No comments:
Post a Comment