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All There Is to Know About A Compelling Succession Planning Process.

A Thorough List Of Our Favorite Resources To Get You Acquainted With Succession Planning

What is Succession Planning?

Succession planning is the strategic process of identifying and developing an organization’s next generation leaders. Succession planning ensures that there is a continuous supply of successors for current and future roles, that are prominent and crucial to the working of an organization. The succession planning process is an essential part of organizational planning and ensures business continuity when key leaders retire or move on to new opportunities.

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Who is next in line?

Make your succession planning process easy with Mercer | Mettl’s HiPo Toolkit.


Overview

 

Succession planning is more than finding a replacement for top leaders, it is a holistic strategy that incudes employee development and engagement. An effective succession planning process starts with a broader understanding of company goals and ends with identifying some of your most valuable employees who can be groomed for critical future roles. The succession planning process is an important undertaking for any organization that wants to keep up the business momentum, even in changing times. Here’s a glimpse of the 4-step succession planning process:



Identify: List down key competencies required to succeed in critical roles, keeping in mind your present organizational context and future business potential. Nominate candidates for the next step.

Assess: Use reliable and valid tools to evaluate employees’ personality, behavior, aptitude, agility and functional skill levels and readiness. Holistically gauge employees using 360-degree feedback and put them in simulated situations using an assessment center.

Plan: Employ the power of data and predictive analytics to handpick the right employees, based on the reports from the assessment stage. Rely on data-backed insights to design the right kind of development programs for an effective succession planning.

Act: Develop employees in keeping with their future roles and track their growth. Your future leaders are almost there! Relax, just for a while though, knowing that your organization is and will be in good hands!


Conclusion

 

It is time for businesses to start thinking of their future as much as they think about their present. Succession planning is an essential step in that direction. A carefully orchestrated succession planning process can come to your organization’s rescue in the event of an unpredictable leadership void.

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