Succession planning is for identifying and grooming talent to enable them to take up next level of responsibilities. For example, in an organization having project managers and project director, it is better to identify few project managers and groom them towards project director. As and when there is a need for project director, you can move one of the project manager to be the director.
Ride the Storm: Navigating Through Unstable Periods / Katerina Rudko (Belka G...
How does performance management system help succession planning
1. How does performance management system help succession
planning?
Read the original article here!
Succession planning is for identifying and grooming talent to enable them
to take up next level of responsibilities. For example, in an organization
having project managers and project director, it is better to identify few
project managers and groom them towards project director. As and when
there is a need for project director, you can move one of the project
managers to be the director
.
It is important to do this succession planning affront for
several important reasons:
Keep the cost low. Hiring from outside is always going to be
expensive and difficult. Grooming someone internally will always
keep the cost low & also will help in smoother transition as this
person would know the importance, responsibilities, organization
culture, etc. already.
2.
Grooming someone internally will provide better career planning for
individuals. It sets targets for each person and also helps them to
move up in their career. Lot more job satisfaction and morale
improvement.
Will keep the attrition low as everyone would want to move up in
their careers.
Succession planning consists of the following steps:
Step 1: Identify the set of people at a level who need to be groomed to
the next level. Leadership potential assessment can be done to find out
people who have the relevant competencies as well as the essential
leadership qualities.
Step 2: Defining the set of responsibilities for the next level and coming
up with the training plan for the individuals to take up these
responsibilities.
Step 3: Assigning these responsibilities and monitoring them
Once someone is ready, as soon as the real opportunity arises, you can
easily move the person to the next level. Identifying and getting them is
a key.
How can a performance management system help to identify
deserving employees in succession planning?
Performance management software will be designed to produce reports
from which the management can choose the set of people who have good
potential and achievement history. They come with a feature with which
training and development plans for individual employees can be set up.
Once the training and development plans are on the board, the
employees can be evaluated on the set these competencies /
responsibilities.
Performance management software usually has a feature where deserving
employees can be nominated for set of next level roles and then can be
groomed. This also helps to keep track of the succession planning.
Therefore, it is essential for managers and HRs to use performance
management software to carry out an effective succession planning.