Succession Planning

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Its clear to see that succession planning and development of future leaders does not exist in isolation - it needs to reflect the company's strategic objective and strategic goals. For any organization to implement an effective succession plan there are a number of key issues that need to be considered:

• The succession planning program must have the support and backing of the company's senior level management

• Succession planning must be part of an integrated HR process that includes training, development and performance appraisal

• Identify what skills the organization will need in 5, 10 or 15 years

• Critical positions must be identified and included in the Company's succession planning program

• Identify high-performers that are almost ready to step into those critical positions

• Analyze the workforce and identify who will be eligible for retirement within the next five years

• Managers need to identify the responsibilities, skills and competencies that will be needed by their replacements

• A system for communicating succession planning information to managers must be established

• A systematic approach for identifying, nominating and selecting potential successors must be established

• Background information on potential successors, such as education, experience, skills, appraisals and potential should be reviewed

• The training and development requirements of potential successors needs to be determined

• The skills of potential successors must be developed through work experiences, job rotation, projects and other challenging assignments

• A system for monitoring candidate's development plan progress by senior management should be established

• Succession planning must include a system for providing feedback and encouragement to potential successors

• Succession planning is basically a "numbers game" that requires good organizational skills and the ability to pay attention to details

• Finally, the...
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