Potential appraisal and Successiion planning in companies

1. POTENTIAL APPRAISAL AND SUCCESSION PLANNING

2. The main question Whether or not the employees have the ability to handle positions in the future which involve considerably more responsibility than what they have right now?

3. Potential Appraisal Definition: A process of determining an employee’s strengths and weaknesses with a view to use this as a predictor of his future performance.

4. Process of tracking unrevealed skills and abilities in a person which even he/she is unaware of. Future oriented appraisal which aims to track the potential of the employees to rise up in the organisational structure. Unlike performance review, it does not happen at a particular period in every organization. Generally exercised when employee Achieves a milestone Completes certain duration in organisation Plans to change jobs Characteristics

5. Benefits Recommending a growth plan Showing a bigger picture to the employees. Infusing enthusiasm in the employees to sharpen the abilities. Learning about the training requirements of the employees. Drawing a succession plan for future.

6. Succession Planning Definition: A plan that is made to anticipate and prepare for, changes that will or can occur both expectedly and unexpectedly, among the organisation`s key employees.

8. Work outputs and corporate objectives must continue to be met despite resignations, illness, vacations and restructuring.

9. To meet staff’s desire for new and challenging roles.

12. Back up staff

13. Having skills and knowledge for emergency situations as well as future needs

14. Enhanced staff motivation

16. Potential for grooming for positions that may not be there in the future

17. Difficulties in maintaining the motivation levels

18. Possibility of poaching by other organisations

20. Effective follow up and review of the progress

21. Documentation of competencies

22. Rewards for both the mentor and the mentee

23. Evaluate results – through availability of staff with key skills

24. CEO and leadership involvement in the process