Sometimes responsibilities like succession planning may make you feel like falling short of hours in a day. Planning could be tedious as well as difficult at same time.
Even though it isn’t easy, planning cannot be left behind. Succession planning in HRM (Human resource management) is one of the high priority tasks for an organisation. Especially in paced corporate life like today, you cannot fail to plan.
Suppose an employee or key team member leaves all of sudden, what would you do? Organisational plans and strategies come into action at such moment.
One must understand that a planning is no child’s call. It can demand extreme focus and resource as discussed in next fold below.
What is succession planning?
A process, which involves plan making for emergency and demanding situations at organisation. This may include identification and development of new resources such as leaders and assets. Planning backups can be extremely useful here.
Major steps in succession planning includes identification, implementation and re-evaluating the effectiveness of plan.
Succession planning can also be defined as finding and grooming a particular employee for upcoming or major challenges. The process brings you organisational productivity and effectiveness at base. It is also known as the replacement planning to make your business future ready.
Succession planning objective:
The main objective of succession planning in hr is not failing at future challenges. The objective is to identify potential candidates and resources like new employees and potent managers for high profile roles at firm.
One of the best benefits of the process is developing experience and skilled labour for this fast paced world for survival. Doing it right way ensures right talent occupies the space.
Purpose of succession planning-
- No vacant position
- Continuity at delivery
- Ready talent base
Do’s for an effective succession planning:
An average external candidate costs more than 1.5x of an internal employee. Simply promoting your in-house employee could be much better than hiring one. This then also creates a motivating culture to perform better and get promoted.
Working with someone whom who have been already working with is obviously much easier and swift compared a new one. With the method, you save your hiring and training costs easily.
Transparency at finances
For any business to be successful at operations, budget and finances need to be clear with the men in charge of project. With better understanding of requirements and resources, chances for an expected outcome is huge.
After all the objective of succession planning is to create an intelligent workforce and leaders. Here the top executives must take the charge since, revamping the culture and strategy making is no easy task.
Make your ‘Why’ straight
Suppose you came to a shop and started thinking why you are here, what could be funnier than this? Always make your why-to clear when kick starting with a project like replacement planning. Make your ‘Why’ clear, project is no more a challenge for your leaders.
Don’ts for succession planning in HRM:
Trying to commit all at once
When committing such intensive planning, avoid over planning and trying to complete tasks at once. Hard work is not the only solution. Be smart at choosing which positions to work upon. Strategize your plan and achievable and go one by one.
Lack of communication
Failing to communicate with your contributors AKA in-house customers can ruin the entire plan. Keep your intentions transparent. Let your co-workers ask leading questions about vertical and leadership to fill the gaps and miss no window of improvement.
Improper growth opportunities
Growth opportunity is everything. Efforts put for so long could go all in vain if your employees feel left out and lack opportunities. More than 40 percent of candidates leave/ quit due to improper training and learning opportunities.
Being focused about one area and also refracting your focus would put an end to this. Leaders must first need to understand which areas to focus upon. Avoid being specific about a specific field and rather take holistic approach.