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Quote of the Day

“Concentrate your energies, your thoughts and your capital.... The wise man puts all his eggs in one basket and watches the basket.„

Andrew Carnegie

Succession Planning

A process for identifying and developing internal people with the potential to fill key, often top, positions in the organization. Succession planning is based on a belief that top talent in the organization must be managed for the greater good of the enterprise. Succession planning increases the availability of experienced and capable employees that are prepared to assume these roles as they become available. Effective succession or talent-pool management concerns itself with building a series of feeder groups up and down the entire leadership pipeline or progression.

Succession planning practice usually involves the followings:
  • Identify those with the potential to assume greater responsibility in the organization
  • Provide critical development experiences to those that can move into key roles
  • Engage the leadership in supporting the development of high-potential leaders
  • Build a data base that can be used to make better staffing decisions for key jobs
  • Improve commitment and retention

30.05.2011. 03:58