File Name: career and succession planning in hrm .zip
Succession Planning is the process of identifying and tracking high-potential employees who will be able to fill top management positions when they become vacant. Succession planning is an ongoing process that identifies necessary competencies, then works to assess, develop, and retain a talent pool of employees, in order to ensure a continuity of leadership for all critical positions. Succession planning is a specific strategy, which spells out the particular steps to be followed to achieve the mission, goals, and initiatives identified in workforce planning.
Succession planning is a critical part of the human resources planning process. Human resources planning HRP is the process of having the right number of employees in the right positions in the organization at the time that they are needed. HRP involves forecasting, or predicting, the organization's needs for labor and supply of labor and then taking steps to move people into positions in which they are needed.
Succession & Career Planning
Everything you need to know about succession planning. Succession planning is a process of ensuring a suitable supply of successors for current and future key jobs. Succession planning is an essential activity that focuses on planning and managing the career of individuals to optimize their needs and aspirations.
The term succession planning can be better understood by studying its characteristics. A succession of persons to fill key positions over time is essential for the survival and success of an organisation.
The purpose of succession planning is to identify and develop people to replace current incumbents in key positions in cases of resignation, retirement, promotions, growth, expansion and creation of new positions. Succession by people from within provides opportunities to employees for progress in their careers. The purpose of succession planning is to identify, develop, and make the people ready to occupy higher level jobs as and when they fall vacant higher level jobs fall vacant due to various reasons like retirement, resignation, promotion, death, creation of new position and new assignments.
What is Succession Planning? Need for Succession Planning 3. Nature 4. Purpose 5. Features 6. Guidelines 8. Steps Involved in the Process 9. Difference between Career Planning and Succession Planning Advantages Problems and Succession planning is a process whereby an organization ensures that employees are recruited and developed to fill each key role within the company. In a recent survey, HR executives and non-HR executives were asked to name their top human capital challenge.
Looking across organizations succession planning takes a number of forms including no form at all. An absence of succession planning should be a red flag, since the competitive advantage of a growing percentage of firms is predicated on their stock of human capital and ability to manage such capital in the future. One of the overarching themes of becoming better at succession is that effective organizations become much better at developing and promoting talent from within.
It is an essential activity that focuses on planning and managing the career of individuals to optimize their needs and aspirations. In some professionally managed corporations every key executive is usually asked to identify three or four best juniors who could replace him in his job should the need arise. Complete dependence on internal sources may however cause stagnation in the organisation.
Similarly, complete dependence on outside talent may cause stagnation in the career prospects of present employees which may in turn lead to a sense of frustration. Moreover, organizations that understand the need to manage the development of their high performers are a step ahead of their competitors!
The effort required to establish a development programme for future leaders is worthwhile because it creates a motivated and capable group of employees that are ready to move forward in the organization when the need arises. Ensures Business Continuity :. Succession planning ensures business continuity. It means the organization does not cease to exist when the key positions become vacant due to sudden death, resignation or retirement.
Develops Potential Employees :. Succession planning is important for grooming and developing competency of the next possible successor. The right training helps the potential successor to improve his strengths and overcome weaknesses.
It also prepares him for various duties, challenges that he might face in future if he fills up the position. Identifies Next Successor :. The process helps to identify next possible successor in advance. Every business organization must invest in identifying the next successor for the organization. Smooth Functioning :. Succession planning ensures smooth functioning of the organization. There is supply of competent and skilled employees to take up the role or responsibility of key manager whenever the need arises.
Hence, temporary or sudden absence of key manager does not halt the activities of the organization. Reduces Cost of the Organization :. With succession planning, the demand for human resources is met within the organization. It lowers the cost of organization as the time, money, energy required to recruit employee from external source is saved.
Developing Career Paths :. Succession planning helps the HR department to set up career advancement plans for competent employees.
The assessment of skills and interest helps in providing right training to employees. It also helps to select suitable employee for specific job roles. Corporate Image :. Organization invests in identifying and grooming employees. It also provides varied growth opportunities within the organization. This increases job satisfaction of employees, which results in increased performance and productivity. This ultimately improves image of the organization in market and attracts competent workforce towards the organization.
Reduces Employee Turnover :. Succession planning provides growth opportunities to employees within the organization itself. It offers varied job roles to prepare employees to take up higher roles in future. The employees feel important and valuable as the organization takes interest in their career and personal development.
Thus, it reduces rate of employee turnover and helps to retain competent workforce. The nature of succession planning can be listed as follows:. Survival, growth and efficient continuous existence of an organisation require a succession of people to fill various important jobs. Succession may be from internal employees or external people. Succession from internal employees is advantageous to the organisation as well as to the internal employees.
Organisation can buy the employees loyalty and commitment, belongingness, shared feeling of development along with the organisation by promoting the internal employees. Employees get the benefits of growth in the organisation. The organisation mostly prefers to encourage the growth and development of its employees and as such tend to prefer succession from within.
The scope of succession plan would be more when the organisation grows steadily and employees have potentialities to take up higher responsibilities. Professionally run organisations ask their managers to identify the internal employees having potentialities and develop them in order to occupy their positions as and when they fell vacant. However, it is necessary to allow the inflow of new blood also.
Hence, organisations should also search for outside talent in certain cases like when competent internal people are not available, when major expansion, diversification and growth plans are in offing, complete dependence on either internal source or external source is not advisable to any organisation.
Hence, a judicial balance between these two sources should be maintained. It is a process where company identifies possible replacements for critical roles. Some of the critical roles are at management level and other roles include key functions where the loss of an employee could put the organization at risk. They can be highly technical roles or sales positions with significant levels of customer interaction. Succession planning identifies individuals with the potential to develop into these critical roles.
Feature 1. Systematic Process:. Succession planning is the systematic process of defining future management requirements and identifying candidates who best meet the requirements. Feature 2. Supply of Labour:. Succession planning ensures supply of labour within the organization for future staffing needs. With succession planning the skills and abilities of current manpower are assessed to see which future positions they may take within the organization when other employees leave their positions.
Feature 3. Used for Higher Level Organizational Positions:. Succession planning is typically used for higher level organizational positions such as executive level positions. Like if a company predicts that its CEO will retire in near future, the organization may begin looking months or even years in advance to determine which current employee might be capable of taking over the position of CEO.
Feature 4. Internal Selection:. Succession planning makes use of internal selection as opposed to hiring employees from outside the organization. With internal selection, the organization becomes aware of current employee skills and abilities and therefore is often better able to predict future performance than when hiring from outside. Feature 5. Key Succession Plan:. The key to succession planning is preparing a written succession plan. This document provides for the continued operation of a business in the event that the owner or a key member of the management team — leaves the company, is terminated, retires, or dies.
It details the change that will take place as leadership is transferred from one generation to next. Along with career planning many organization undertake the exercise of succession planning.
Succession planning, as an organizational practice is comparatively new technique but it has been in practice in princely states since long in which an heir used to be nominated and efforts used to be made to groom him to take the place of the king. There are three main elements of succession planning:.
In this process, you ensure that you will never have a key role open for which another employee is not prepared. This is also significant as you develop your talent bench strength within your organization. Sure, you will have an occasional situation arise for which you are unprepared, but for the vast majority of employee movement, your succession plan is in place. You will have had a systematic process for preparing employees to fill key roles as they become vacant. 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 in your organization.
To adapt to upcoming shifts, you need to think ahead in terms of having the right employee mix — and a ready reserve of leadership candidates. Succession planning puts this personnel pipeline in place. By mapping internal talent and future needs, you can set a course to develop your employees accordingly. Seven straightforward steps can prepare your staff for what lies ahead. To predict the future, put away the crystal ball. Grab instead the forecasting tools your company already lives by. These include the strategic plan and detailed budget forecasts.
Foundation maximizes the impact of the HR profession on organizational decision-making and performance by promoting As a busy human resource professional, you probably find it difficult other reasons, succession planning and leadership development initiatives must retr eved from aidshealing.org aidshealing.orgpdf/dd _.
Succession planning is the process of identifying the critical positions within your organization and developing action plans for individuals to assume those positions. Taking a holistic view of current and future goals, this type of preparation ensures that you have the right people in the right jobs today and in the years to come. A succession plan identifies future staffing needs and the people with the skills and potential to perform in these future roles.