Chapter 7 Succession-Planning-in-Talent-Management.pdf

talent management

1. Succession Planning in
Planning in Talent
Management
by Dr. Siti Amaliya Binti Mohd Radyi
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2. Topic Outline:
1 Definition
2 Understanding Succession Planning
3 Purpose or Benefit of Succession planning
4 Identifying High-Potential Employees
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3. Learning Outcomes
By the end of this section, students will be able to:
1.Define succession planning and its role in talent management
2.Understand the key steps in the succession planning process
3.Identify the benefits of having an effective succession plan
4.Recognize the characteristics of high-potential employees
5.Implement best practices for identifying and developing
future leaders
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4. What is succession planning?
Succession planning is a critical process in talent management
Process of developing talent to replace executive, leadership, or other key employees in an
organization when they transition to another role, leave the company, are fired, retire, or
die.
Ensuring the seamless transition of key employees.
This process is essential for both for-profit and not-for-profit organizations, as it helps
maintain operational continuity and minimize disruptions.
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5. How does the succession planning process
process work?
Gaining Stakeholder
Support
Including the CEO or executive
director in the planning process
is crucial for its success.
Identifying High-Potential
Employees
Assessing the extent to which
internal candidates can fill roles
and creating effective learning
and professional development
processes are key components.
HR Software and Process
Process
Determining which HR software
will be used in support of the
succession planning strategy
and process is essential.
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6. What are the benefits of succession
succession planning?
1Mitigating Risk
Succession planning helps save time
and cost by ensuring there are more
employees available with the skill set to
replace senior executives.
Minimizing disruptions from
unexpected departures or retirements
retirements
2Retaining Top Talent
It boosts employee engagement and
loyalty through career development
and makes workers feel valued.
Decreasing the risk of losing key
employees to competitors
3Smooth Business Operations
It provides for smoother business operations and delivery of uninterrupted excellence, as
skilled employees can immediately fill needed high-level roles.
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7. cont…
1Identifying and Developing
Future Leaders
With more baby boomers retiring,
succession planning helps ensure there
are more employees available with the
skill set to replace senior executives.
2Better reputation
Succession planning helps an
organization create a better reputation
reputation as a talent destination.
3Maintaining continuity in operations and productivity
When a candidate-driven market exists, companies compete for a scarcity of talent, which
talent, which typically makes hiring desired candidates more difficult. Choosing internal
internal employees to fill vacant critical roles helps avoid this challenge.
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8. Best practices for succession planning
Be Proactive
Prepare for unforeseen
instances where a high-
level executive suddenly
level
leaves to keep the
organization operating as
normal.
Engage Stakeholders
HR should enable the process
and provide tools as needed,
engaging stakeholders in the
process.
Train Successors
Train successors with mentors
mentors and job rotations to
to transfer expertise and gain
gain more knowledge of
certain roles and experiences.
experiences.
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9. Real-world succession planning example
example
Steve Jobs and Tim Cook
Steve Jobs groomed successor Tim Cook to take
take the top leadership role, providing a real
real-
-
world example of effective succession
world
planning.
Apple University
Jobs founded Apple University to provide a
leadership curriculum based on his experiences
experiences and business savvy.
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10. Identifying High-Potential Employees
Identifying high-potential employees is a crucial aspect of succession planning. It involves carefully evaluating
evaluating individuals within an organization to determine their leadership potential.
By identifying these high-potential employees, organizations can focus on developing their skills and
competencies, preparing them for future leadership roles.
This proactive approach helps ensure that the right individuals are being nurtured and groomed to fill key
fill key leadership positions, fostering organizational growth and continuity.
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11. How to Identify High-Potential Employees
Some common methods for identifying high-potential employees include:
•Performance assessments: Evaluating an employee's performance against key performance indicators
indicators (KPIs) and job responsibilities.
•Career aspirations: Considering an employee's interest in pursuing higher-level roles and their willingness
to take on new challenges.
•Work ethic and attitude: Observing an employee's work ethic, level of dedication, and positive attitude
positive attitude towards their work and colleagues.
•Feedback and recommendations: Gathering feedback from peers, supervisors, and other stakeholders
who have worked closely with the employee.
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12. After Identify
Once high-potential employees are identified...
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13. Summary for this topic
Succession planning is a strategic process that ensures organizations have the
right talent in place to fill key roles when needed. It involves identifying high-
potential employees, engaging stakeholders, and implementing best practices to
create a seamless transition of leadership.
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