The Benefits of Succession Planning

Succession Planning is the process of selecting the members from the organization or the company itself to make the business to reach its peak performance. This process helps to select the future leader of a company from the internal employee. It also helps in finding out skillful employees to perform various jobs within the company. Succession Planning helps the organization to use the potential of the capable and experienced employee. Unlike Replacement Planning process the Succession Planning process helps to judge the potentiality of an employee in regards to a job that he or she might not have performed earlier.

The main motive of Succession Planning is to identify the top potentials within a company and using it for betterment of the enterprise. The Process ensures that the employees selected within an organization have the ability to fulfill each key role of the company. The Succession Planning process helps to recruit superior employees with greater ability and by training them with better knowledge and skills, the company can overcome various challenges.

The Succession Planning process plays an integral role in the strategic planning process of a company. On using the Succession Planning process effectively it helps to mitigate risk associated with a company’s turnover. It helps to use the existing talents in the company without hiring new manpower in a war curtailing the cost of recruitment.

According to the American Society for Training & Development, 2000 the various components of Succession Planning are:

§  Replacement Planning

§  Identifying High Potential Employees

§  Development Programs

§  Employee Input

The Succession Planning process helps involve certain steps making it easy to carry forward. This involves; lateral moves, assigning a special project to the employees, examining the leadership role in the employees and also offering various internal and external training programs

The Process also involves retaining the superior employees of an organization. The company or the organization must arrange various beneficial needs for these employees. As looking at this the employees will get motivated and the result will be more fruitful and effective for an organization.

The first thing of the process is to set an organizational goal and then selecting superior staff to carry on the process of selection. The Human Resource Department plays an important role in carrying out the Succession Planning process effectively for many reasons like:

·         Recruiting Employees.

·         Training the employees by various kinds of Performance Management, training and mentoring program.

·         Helps the employees to excel their talents in a much wider way helping the company to achieve its goal smoothly and effectively.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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