Succession planning is a tool used by proactive companies to identify and utilise future potential from within the existing workforce.
Through the appraisal process, or discussions with employees an organisation can identify those with future potential to fill key leadership roles within company. Once identified employers can then work on development plans to support and build on the individual’s potential with a view to finding the right role for them within the business.
To work succession planning needs to have the agreement and commitment of those employees who have been selected from within the company. Employees also have to want to work on their potential and look for the next step up.
The succession planning process needs to be fair, open and transparent and look to align individual aspirations with organisational needs.