One of the most effective ways for companies to reach productivity and profitability in today's uncertain times is called succession planning. It is a process of identifying high-performing employees and potential gaps in the skills of employees which allows companies to take corrective action before a key person leaves. At the same time, the process helps to better use and develop existing talents. The structure of succession planning in the company was described on the HR Morning website:
1. Identification of key/critical positions
Identify key and critical positions on the basis of the following criteria: position in the organizational structure, key tasks, specialized leadership skills, geographic location, potential fluctuation in the field.
2. Analysis of skills
After you identify the key positions and areas with high turnover, it is necessary to identify specific groups of skills for each position. Search for answers to these questions: What internal and external factors are affecting the individual positions? How are you going to use the various positions in the future? What competencies and skills will be needed? Where do you see the gaps?
2. Composition of succession plans
A succession plan has four major objectives:
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To find employees who have the potential to assume greater responsibility within the company.
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To provide high-potential employees with development opportunities.
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To provide management support for the development plans for high-potential employees.
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To create a strong pool of internal candidates for key positions.
An effective succession plan includes the following parts:
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Strategic plan that will cover the long-term strategy and goals of the company.
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Updated HR strategies focues on recruitment, management and layoffs.
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Updated job descriptions for all positions in the company.
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Clear timetable for staff evaluation.
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Requirements for line managers on how to inform management on the development of their people.
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Overall plan for replacing key employees including a list of managers and other employees who will be involved in the succession planning process.
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