SUCCESSION PLANNING

Sustainable Success through Succession Planning

Introduction1

Human Resource Planning2

Succession Planning2

Building Long-Term Organisational Performance through Succession Planning3

Significant Issues to Be Deemed For Succession Planning6

Succession Plan for an Organisation7

Step 1: Getting the Support of the Leadership8

Step 2: Identification of the team for the succession planning8

Step 3: Identification of the gaps in leadership8

Step 4: Assessment of the existing employees' promptness for leadership positions9

Step 5: Identification and Selection of the Employees with High Potential9

Step 6: Diagnosis of Employees' Strengths and Needs for Development10

Step 7: Selection and Implementation of Strategies for Development10

Conclusion10

Self Evaluation Form12

References15

Appendices18

Appendix a: Sample Succession Planning Status Worksheet18

Appendix b: Acceleration Pool Nomination Form19

Appendix c: Acceleration Pool Applicant Profile20

Sustainable Success through Succession Planning

Introduction

Strong business planning, since the development of modern management, has become a key component to enable the competitive succeeds and to give an edge to competitor. Although in 21st century a globalized workforce has become a foundation for competition, the basic principles of human resource planning remain same. Most of the times time frames in business are not long enough to plane a good strategy. Workforce planning or Human Resource Planning is one of the most effecting features of business planning (Sims, 2005, pp.14-15). Without Human resource planning there is a crucial chance that an organization will be able to recruit right people at right places at right time. Human resource planning for the executive and senior most level of the organisation has turned out to be an essential and crucial part of the human resource planning in the organisations.

The aim of this report is to cascade light on the notion of succession planning in the organisation. The report initially describes briefly the concept of human resource planning in general and succession planning in particular. The report subsequently discusses the significance of the succession planning in the organisation. For doing so, the report entails critical and evaluative description of the manner in which the organisation can built long term performance through the practice of succession planning. Towards the end, the report describes the succession plan for a generic organisation along with the main steps and features of the succession plan.

Human Resource Planning

Human Resource Management is a management function that relates to the people within an organization including planning, recruitment, hiring, selection, compensation, performance management, organizational growth and development, learning and training, benefits, employee motivation, administration and communication. Staffing begins with strategic human resources planning, the process of anticipating and providing for the movement of people into, with, and out of an organization to support the firm's business strategy (Turner, 2002, pp.43-44).

Human resource planning is an essential part that holds the organisations in the contemporary business world, and this is because it is responsible for projecting future plans to be carried out with respect to the activities to be developed using human resources (Turner, 2002, pp.43-44). The human resources planning process involves anticipating an organization's business demands and providing the staff to meet these demands. Human resources planning involve two crucial factors; the supply and the demand for ...