Succession Planning is smart

 

Succession Planning is smart but do you, do it?

I think a lot of businesses talk about, think about it but don’t take the next step to engage in conversations to identify successors and plan for key roles at various levels to have a successor to temporarily or permanently replace the key role.

But it makes sense right?  If key roles are important and key to continued business then doesn’t it make sense to be prepared for having to replace the key role for various reasons?  It does!

Business continuity is the most obvious advantage, reducing disruptions by allowing for a smooth transition and prevention of loss of knowledge.    It is also positive for employee engagement, morale and retention by identifying and development persons in the business for key roles.  Overall, it reduces risks and potential costs.   Any gaps in the business from someone leaving, particularly key roles can have significant effects on the organisations bottom line.

It is definitely worth taking the time to identify key roles within the organisation, assessing internal talent, develop development plans for identified internal talent (behavioural profiling is a beneficial tool to assist with development) and as always monitor and evaluate regularly.

At HR Business Direction we can help with succession planning or behavioural profiling.  Contact us here to discuss how we can help.

 

Related articles: Succession Planning – How far do you go?

 

Leisa Messer BBus(HRM); GradDipIR; FCPHR
Managing Director | HR Strategist
leisa.messer@hrbd.com.au
07 3890 2066
hrbd.com.au