Effective talent management and succession planning
How to create an effective talent management and succession planning for future development?
The succession planning is a methodical process that can identified and advance highest talent employee for leadership. In addition succession planning is an strategy that aim to identify motivated employees, leaders and performers provide opportunities to enhance their performance and advance their organization. Any organization could be improve this strategy to improve the organization. Similarly, executive positions from the public, private and non-profit sectors are predominantly held by a large demographic that is nearing the age eligible for retirement, and labour forecasts predict a continued increase in job turnover at the management level (Stewart, 2016)
Process for succession planning
The process of selecting and emphasizing key talent to confirm the continuity of vital responsibilities is known as succession planning. Its help to finding best performers, highlighted leaders and best practitioners, and also it may help to upgrade the organization into top level. Everyday, All in organization employees get resign, retire and promoted. For this reason, organization responsible to fill vacant by qualified candidates.
Role of HR in succession planning
Impact and risk of unfollowing succession planning
- High cost of training and recruitment
- loss necessary talent and knowledge
- Employees are un-confidence and confusion
- Organization mission can not achieved
- Harm company's abilities and culture
Succession planning framework
Steps of succession planning process for future development
1. Talent management
Two excellent practices for developing a succession planning strategy, That takes a long-term view of the process and integrate it with talent and leadership development. Due to the fact that succession planning typically concentrates on senior leadership positions that would be filled by existing workers in mid-level leadership positions. Therefore, it makes sensible to combine succession planning with talent and leadership development.
The first step in the succession planning process is regular talent development. Skillful employees participate in talent development programs offered by many organizations, where they receive demanding projects, various duties, and training. Developing leadership skills and gaining valuable experience through job rotation and career planning, these are the main goals of relevant talent management activities.
Developing outstanding talent through mentoring is another well popular strategy. It's common knowledge that workers who have mentors do better, advance more quickly, and perform greater. Apart from that, they are less likely to quit and exhibit higher levels of job satisfaction, personal growth, and organizational dedication. There are also psychosocial benefits, including acceptance, encouragement, coaching, increased internal exposure, and more challenging assignments (Groves, 2005).
2. Leadership talent identification
3. Development of leadership
4. Succession decision
Conclusion
Reference
- Armstrong, M. and Taylor, S. (2014) Armstrong’s Handbook of Human Resource Management Practice. 13th edn. London: Kogan Page
- Umar A, & Umaru Z, (2021) SUCCESSION PLANNING AS A CRITICAL MANAGEMENT IMPERATIVE: A SYSTEMATIC REVIEW [online] Available at: https://www.researchgate.net/publication/357388465_SUCCESSION_PLANNING_AS_A_CRITICAL_MANAGEMENT_IMPERATIVE_A_SYSTEMATIC_REVIEW [Accessed on 04.04.2024]
- Eric V,(2024) Succession Planning: Essential Guide for HR [online] Available at: https://www.aihr.com/blog/succession-planning/ [Accessed on 05.04.2024]
- Chris Q, (2023) Diamonds in the Rough: Using Talent Management in Succession Planning [Online] Available at:https://www.linkedin.com/pulse/diamonds-rough-using-talent-management-succession-planning-quinn/ [Accessed on 07.04.2024]
- Margerate R, (2019)Succession planning for successful leadership: Why we need to talk about succession planning! [online] Available at:https://journals.sagepub.com/doi/10.1177/0892020619881044 [Accessed on 08.04.2024]
A very good article on succession planning! All the essential steps are nicely explained. It's vital for any organisation to identify the crucial positions of the company and develop the talent pool who will take up the positions in time to come. Also the existing employees will be highly motivated knowing that they have a path up in the organisation . By this way, the company will not lose top talent.
ReplyDeleteThank you for your comment, Of course! Successful organizations must identify critical responsibilities and develop personnel for future roles. It increases employee retention and morale in addition to ensuring continuity. Giving current employees clear career routes keeps talent from leaving and empowers them, Which builds a great sustainable organization.
DeleteGreat job outlining the importance of succession planning! Your focus on identifying and developing top talent for key roles is spot on. Keep up the excellent work!
ReplyDeleteyes Nadeeka, Succession planning is critical to the long-term success of any organization. Identifying and nurturing top people facilitates a smooth succession of leadership and, ultimately, drives long-term growth. I appreciate your understanding of the entire of this process.
DeleteOrganisations need to plan for succession in order to maintain growth, stability, and development. It emphasises the significance of forward-thinking and progress because without it, businesses run the danger of missing out on chances to identify, recruit, and develop talent.
ReplyDeleteYes Ruki, Succession planning is vital to ensure an organization's continuing growth, stability, and progress. Organizations that proactively identify and nurture talent can prevent disruptions while capitalizing on possibilities for innovation and advancement. Organizations that use innovative succession planning strategies can build a pipeline of talented managers who can guide the business through various difficulties and changes. Thank you for highlighting these key points.
Delete