Why is Succession Planning Important?
- Your CEO is nearing retirement age and has given an indication that retirement will be imminent.
- You have a key role in your organization, which, if left suddenly vacant, would create a significant gap resulting in potential lost productivity, errors or missed opportunities.
- A tragic accident results in the unexpected death of a C-suite executive.
- A senior level employee in a critical position is poached away by a competitor.
HR is in a position to minimize the unexpected nature of these successions and minimize the time, cost and angst of filling key roles when they become vacant. Each of these situations—and many potential others—lead to the urgent need to replace a key individual within your organization. While there may be a tendency for organizations and their senior leaders to think “it won’t happen to us”, unexpected succession situations happen in any industry and every company.
Succession planning is a way for an employer to better ensure leadership continuity.
Regardless of the type or size of the organization, succession planning is an important undertaking and one where HR can play a key strategic role.
During This Educational Event:
Through interactive workshops and sessions, attendees will learn how to implement a succession planning strategy within their organization including how to:
- Realize the role of HR in setting up a succession planning system
- Develop the process within strategic workforce planning and gain insights and forecast future needs and strategic alignment
- How to link succession planning and talent management to HR plans and organizational strategy
- Hire high performers and those that are a culture fit
- Create a culture that understands why succession planning is important
- Building individual development plans
- Effective monitoring, measuring and follow-up processes