Human Resource Development : Succession Planning & it's importance

Succession Planning

It is a process of filling the future vacancies in the company or organisation. It can be stated as continuation of leadership also which includes identifying the candidates for future posts. The main purpose of this is to select suitable person for vacant position at the organisation in appropriate time. Various things are taken into the consideration while succession planning. It includes analysis of current resources, future changes & motivating the employees to replace the leaders. It is one of the well known concept in human resource management.

Objectives of Succession Planning

1. To develop Competency of leadership.

2. To facilitate employees for their future career plans.

3. To boost morale of employee

4. To deal with cost of separation

5. To sustain performance of the organisation

Types of Succession Planning

1. Role Based

It prepares the current employees to replace the positions of middle level & upper level managers. By following this path organisation is able to get most suitable choice.

2. Individual Based

It's based on potential of individuals. Employee who have good knowledge & high potential are trained by experts of organisation to enhance the skills of employee.

3. Pool Based

It's totally different method than the above one. This method does not focus on individual. But it focus on group of individuals & the group gets trained by experts to replace the vacant position. It has two categories, 

a) Internal Pool Planning

b) External Pool Planning

Succession Planning

Succession Planning Process

1. Pre-planning

This can be done by HR department of an organisation. HR department train the employees who have high potential to replace the future leaders. Some managers are used to avoid this type of step as they feel that they can be deprived of promotional activities.

2. Assessment

Managers are required to maintain employees profile which includes the entire career  history of employee, functions perfomed by them & their strengths. Managers also required to develop one system to rate the performance. 

3. One-on-one & Group meetings

The best way to identify the best talent in an organisation is one on one discussion. This can reduce the biasness as it goes under HR & leaders of company. Group sessions are also good to review the best talent from an organisation. Discussion & findings can prove more beneficial. 

4. High Authority Discussion

Regular discussion must be needed. CEO & leaders of organisation can develop some outputs & ways to utilise future effectively. Top authorities must be known to any time or cost that Company needs whenever required.

5. Ongoing review

It's a continuous process which does not end even if a pool of future leaders are selected. It's responsibility of the organisation to identify the real talent of an organisation. Replacement charts are updated & it's done in annual basis. 

Importance of succession planning

This process can provide leadership continuity option for an organisation. It is not only attracts employee but also it attracts the outsiders to think on organisation status or branding. It can create reputation. Its main focus is to replace the leaders by effectively & smoothly. This process also saves the time & avoids the confusion in organisation.

Quick Learning

Succession planning can be defined as process in which current employees are trained to replace the leaders by developing their skills in advance & they should be ready to take any responsibility. 

The main objective is to search the most appropriate candidate for the important positions. From employees point of view, it is short duration process & from organisations point of view it is long duration process.

Thank you !!!