Every business needs a good succession plan. Without it, the company usually replaces the boss by promoting the guy next in line. With a good succession plan, however, the boss can be replaced by two or more. It doesn’t mean that the boss is dispensable. It just means that the succession may present much better options for a company. In some cases, planning may involve massive changes in the company’s norms and priorities, not like an ecological succession in which only little changes are taking place among plants, animals and their environment.
Succession planning involves keeping track of a lot of people in the making. The manager, his subordinates, even accountants and lawyers should coordinate together to detect potential talent in the employees (and not just the guy next in line), keep track of achievements as well as continuously improve skills and talents. The manager at first begins to list down a number of functions and responsibilities that his position obliges him to keep. He may then determine if anyone in the organization is able to meet most, if not all of the requirements. Once selected, he may have to keep track of every achievement and success of the group chosen. This group is called the talent pool.
This is where software comes in. Most beneficial to large business companies, software allows employees to place data regarding their profile, projects and accomplishments. This gives clear insight into the individuality of each employee. Software may be customized. Other prepared software may be used:
- SuccessFactors.com provides a dual functionality: it manages data as well as online seminars aiming to increase employee productivity.
- Halogen eSuccession™ boosts of affordability and reliability. The only program to use performance assessment methods of employees, Halogen offers simple 1-2-3 steps to find and train potential successors. A popular choice, it has been awarded for its excellent performance.
- iSuccession is an online-based tool that claims, in addition to finding and keeping track of talent pool employees, is able to decrease data repetition. It has also won an award for its performance.
- Successionwizard.com urges companies not to rely on staff most likely to retain at work. Succession seems to be a whole lot more for this wizard.
- Authoria Succession™ provides storage of current and relevant talent information, obtainable by HR officers in the company. In addition, it also includes employee appraisal and tools to handle resumes.
Talent management needs a lot of time and patience. Plans should be reviewed regularly. In addition, employees are to be motivated to imbibe the company’s core values and a sense of responsibility. In most cases the manager needs the knowledge and judgment of a group of advisors. On a secondary note, it also helps to be reminded once in a while, to check up the people that make up the talent pool. The company’s HR needs to check these employees regularly for cooperation and motivation as well as to detect underlying negative reaction to training techniques, whether efficient or not.
Succession is a risky matter. According to a report, about 60% of hired managers fail to accomplish all of the requirements to meet company needs. About the same percent of companies have no idea what a succession plan is. It may be time to reverse the mentality. Our companies need it.