Succession planning is a strategic process for identifying and developing internal people with the potential to fill key positions in the company. Succession planning increases the availability of experienced and capable employees that are ready to assume these roles as they become vacant. It creates an insurance policy for talent.
In today’s tight labor market, succession planning is critical to creating a flexible, sustainable business that can achieve objectives and survive change. The need to identify and develop top talent for critical roles has never been more important. But the fact is less than 50% of companies have mature succession management systems that are up to the demands of today’s business realities.
These days, due to the rapid progress of information and communication technology, even domestic companies are being forced to compete with tough global players. Succession management and talent development are now critical to long term survival and success. Succession management systems that worked in the past may not be viable in today’s world.
Succession Planning
Succession planning is a strategic process for identifying and developing internal people with the potential to fill key business leadership positions in the company. Succession planning increases the availability of experienced and capable employees that are prepared and ready to assume these roles as they become vacant. It creates an insurance policy for talent.
Innova Solutions consultants will help you to design a new succession management system (or modify an outdated one) that will give your organization the competitive edge it needs to survive.
Build Strategic Resource Pyramid
- Get buy in from top management
- Consult with Business leaders to identify future resource needs, based on competitive, demand side, and industry trend analysis.
- Help HR to develop a strategic resource pyramid planning process to sustain organization development for the future.
Plan Organization Development
- Work with HR to implement resource pyramid planning process into organization development
- Develop sustainability for the organization by filling the strategic resource pyramid
- Build resource pyramids for all critical positions and all levels in the organization.
- Align company-wide succession management plan with the business strategy.
Define Resource Model
- Partner with HR to develop a system to identify their next generation of talent.
- Plan how to develop these key resources into more global, strategic, and results-driven people in the organization.
- Create outcome-oriented talent development model applying the 70-20-10 philosophy.
Execute Talent Development Program
- Work with HR to design individual personal management system, and internal certification system to build talent competencies and provide clear road map for personal development planning.
- Design and execute customized talent development program.
- Measure performance against agreed success criteria.
Establish Succession Planning System
- Enabling HR to implement and establish the talent development systems into the organization.
- Provide reports and recommendations for future study and process improvement.
- Assist in rolling out to include all critical positions at all levels in the organization.
- Integrate talent management system with all talent management and talent development processes.
"Succession planning doesn't start with people. It starts with the requirements of the position."
