Succession Planning Goals and Objectives
The succession planning becomes one of the most important HR strategic processes. The organization with the robust succession plan in place that is properly communicated and executed builds a strong competitive advantage. As employees know their importance, they tend to be reluctant to job offers from competitors.
They know that they can be promoted internally; they do not have to look for the new career opportunity. What are the most common goals and objectives for the succession planning?
Each organization needs to be ready that the moment of the leader’s departure will come tomorrow in the morning. That is the key reason the succession planning exists in the company. It is a simple list of key positions, current holders and potential successors from the business with a defined take over date and the personal development plan. First, it sounds easy but it is the HR process that involves the entire leadership team, and the approval and commitment of the executive management is a necessary ingredient of the success.
The most common goals and objectives for succession planning processes are in the following areas:
- succession plans development;
- succession plans execution;
- top talents identification;
- top talents retention;
- promotions and success stories.
The development and innovative management of the succession planning are extremely vital. Human Resources has to keep minds of the leadership team on all plans, and it has to define processes and procedures for updating on the implementation progress. It has to incorporate new talents, and it has to eliminate employees who do not participate in the system anymore. The design of the methodology is usually the first objective for HR Professionals in this area.
The second goal of succession planning specialists is about the execution of the program. The excel spreadsheet with tons of names can be in place, but it does not say a word about the successful management of the process. Human Resources has to facilitate the process, and it has to pick right people for the promotion at the right moment.
No one should start discussions in the corridor about the fairness of the selection procedure. No one should have doubts, beginning with the leadership team. It is a difficult target.
The successors have to be kept in the loop; they have to see a real chance to be promoted within a defined time. The organization cannot afford to select its best talents and let them leave the company because the employees realize they are valued.
Many employees can find a better job with a higher salary when they mention the succession plan. Human Resources has to make sure that all personal development programs are executed, and participants are motivated and happy. It is a difficult goal but the leadership team always measures the success of the program through big numbers.
The last general goal and objective for the succession planning is about success stories. The process needs to be based on the communication of achievement stories to the organization. Employees have to feel good vibrations when the manager tells them that they will participate in the program. It is a great honor for everyone in the program to be included. It is a role of Human Resources to send positive and vibrant messages to all audiences.