The presence of COVID-19 is continuing to challenge us all. Whilst we have been deepening our thoughts regarding Succession Planning over the year, the ability of industry and government to manage organisations and people has never come under such immediate and polarising pressure. There seems to be no end in sight for these levels of uncertainty and unpredictability.…
Succession Planning is the process of identifying and developing potential future leaders or senior managers, as well as individuals to fill other business or critical positions, either in the short- or the long-term. [Source: Chartered Institute of Personnel and Development]. Implementing Succession Planning can: Minimise business risk Allow you to more accurately plan for the future Ensure that your organisation has the capability to deliver against a vision and strategy Build organisational resilience, sustainability and business continuity Pinpoint development needs Identify career progression paths so you retain your strongest talent. For many organisations, they need to demonstrate to stakeholders that they are proactively managing the people-risk element in their businesses. This is particularly true in the Private Equity arena where organisations can change ownership and the new owners insist that a stable management team and organisation is in place.…
We've blogged before about Succession Planning and taking the organisational view to manage business risk. Now let's bring in the 'flip side' of the Succession Planning equation - the 'employee voice'.…
The 9 Box Grid – or the Performance/Potential Grid as it is sometimes known – is a highly useful tool used in succession planning. It enables you to plot all those in the talent pool in one place based on their current potential and performance. …
Succession planning focuses on identifying and growing talent to fill talent leadership and business-critical positions in the future. [CIPD] Succession planning is about identifying the critical posts in your organisation, creating a talent pool of key talent and then managing this group, reviewing regularly and as vacancies arise.…
