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Steps for Effective Succession Planning Cheat Sheet by

Steps for Effective Succession Planning
management     planning     effective     succession

Introd­uction

Succession planning is part of a broader talent management program. Succession planning aims to attract the best talent, retain those indivi­duals, and develop them through well-t­argeted develo­pment efforts. Succession planning helps build the bench strength of an organi­zation to ensure the long-term health, growth and stability.

Steps

1. Establish measurable goals to guide the succession planning program. Closely align the measurable goals of your succession planning program to the organi­zat­ion’s measurable strategic goals.

2. Recali­brate succession planning program goals on an annual basis. Assess changing compet­itive and organi­zat­ional conditions and priori­ties.

3. Prepare current job descri­ptions so that the work to be performed is clear.

4. Prepare competency models by level on the organi­zation chart. Use a rigorous examin­ation of objective perfor­mance requir­ements. Plan for future compet­encies that are necessary to achieve future strategic goals. Ensure all competency models are clear and measur­able.

5. Carefully define the roles to be played by each key stakeh­older group in the succession planning process. Key stakeh­olders include the board, CEO, senior execut­ives, middle managers, superv­isors, and even workers. Keep senior managers and other stakeh­olders engaged in the succession planning program by establ­ishing clear, measurable accoun­tab­ili­ties.

6. Establish talent pools by levels based on the strategic strengths of the organi­zation.

7. Take an inventory of your talent. Ensure that individual strengths and areas for improv­ement are recogn­ized. Conduct talent reviews on a continuing basis to ensure that promotable indivi­duals are being properly developed over time.

8. Evaluate the entire succession planning program on a regular (usually annual) basis. Compare processes and results against the measurable succession planning goals establ­ished at the beginning of the yearly planning cycle.
 

Succession Planning

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