CIOIT Staff & Team Building

Guide to Succession Planning: A Business Imperative

Employee onboarding and exits are an ongoing process in any company or industry. Every day you might have someone taking up a new job or someone leaving a firm to do something else. But the process of employee exit creates a skill or knowledge gap that must be filled simultaneously. Else, it can impact the business, projects, or process badly. This is where succession planning comes into play. Though very few companies practice the approach of planning successors for every business role, it is a dire necessity that no firm should not let go of.

In this article at CIO UK, Laurie Clarke shares an effective guide to implement succession planning at your workplace.

The Right Direction

According to Aldermore’s latest Future Attitudes report, about two-thirds of SMBs don’t have a succession plan in place for any of their business function. This could be the case with many other firms as well. So, how do you proceed? Here’s a guide that will take you through a stepwise approach to succession planning:

Start early

Don’t wait for the last minute to prepare yourself. Start as least five years ahead by forecasting when an employee could leave his/her job.

Look for the best alternative

Do a quick and thorough skill assessment and see who can fit into the respective role. Discuss with the seniors or peers to identify a suitable replacement for the job.

Train the candidate

Once identified, it is essential to educate or mentor the potential candidates. Give them more exposure in dealing with external clients or making business presentations.

Avoid assumptions

Hold open discussions with senior management and peers about this approach and let them know its importance.

Manage smooth handover

Work out a transition period between the older and new employees where they can have regular meetings and discuss their apprehensions before the old employee exists.

To read the original article in full, click on the following link: https://www.cio.co.uk/cio-career/best-practices-for-succession-planning-3696216/

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