Succession Management
Organizations that understand the value of extending succession planning and management effort below the level of top executives, and the importance of engaging talent at every level, will have a significant advantage when it comes to the fierce competition for attracting and retaining talent. Employing effective succession planning and talent management processes reduces the likelihood of talent shortages and increase the likelihood of successfully executing business strategies.
Succession planning’s primary objective is to prepare organizations for change and ensure continuity of leadership and talent in critical roles and positions. Succession management enables organizations to identify, track and develop high-performing and high-potential employees that may become part of a succession plan.
Succession Planning 101: Are you ready for change?
- Does your organization have a plan for leadership growth that is aligned with your plan for business growth?
- Do you have a plan to fill gaps created when current employees assume increased responsibility and fill leadership positions?
- Do you have a plan to identify and develop future leadership?
- Do you have the bench strength required for future leadership needs?
TalentQuest’s Succession Planning starts with our consultants working with you to gather relevant information with regard to your talent processes and critical roles. We then help you facilitate dialogue with your managers regarding certain aspects of talent and we help you take the actions necessary to provide developmental experiences that will test the capabilities of key leaders. TalentQuest will help:
- Provide standardized and objective data for the review and development of talent
- Determine the succession readiness of individuals to move to the next level or position (vertical or lateral advancement)
- Create developmental plans for individuals, departments, and the entire organization
- Identify and track your ‘high potentials’
- Identify replacements for specified positions
- Look for talent to fill positions with qualified internal candidates
- Plan for future staffing needs
- Manage diversity
