Developing a comprehensive succession plan is one of those human resources tasks that seems completely daunting yet absolutely necessary. But luckily, it can be broken down into smaller, more digestible steps that help put this imperative plan into place, and help your company dodge talent gaps, keep employees engaged, and identify future company leaders. Get started with these 6 simple steps:
1) Identify Existing “All Stars”
Populate your succession management software (like SuccessFactors Succession and Development) with data on your company’s organizational structure, current employees and their duties as assigned in their job descriptions, and strategic objectives to identify where you may have talent gaps. Then you’ll be able to see your “All Stars”—those who would be good contenders to take on new key roles.
2) Determine Their Qualifications and Potentials
Using visual tools and organizational aids like the 9 Box Talent Matrix helps you make calculated comparisons.
3) Validate Their Willingness to Reach Higher
Ask your employees what their goals are; have a conversation about growth and the desire to advance.
4) Get Buy-In on the Front-End
Make sure your superstars are aware of their powers, and see if they have the proper investment in the development you’ll need to offer them as part of your succession plan.
5) Fortify Strengths, Nurture Growth
Part of your plan should include how to nurture your best existing employees to help them make a natural progression to their next role within your company.
6) Stay Accountable—Utilize Succession Planning Software
Putting your plan into a living succession management software allows you to be transparent with your objectives and help you remain accountable for what you’re promising to employees who are investing in their career with you.
Not in the listing, but worth mentioning, is to repeat this process from time to time. Check your plan on a regular basis. It’ll ensure you get the most out of the hard work you put into succession planning for your company. And for guidance when you need it most, contact us for a complimentary consultation to get started.
AltaFlux understands what you and your organization need to excel, and can deliver rapid innovation to unleash your full workforce potential. Together, we can empower your business by streamlining, transforming, and optimizing your key HCM and talent processes with industry-leading SAP SuccessFactors technology—enabling you to adapt at the speed of change.
AltaFlux Corporation is a global HCM cloud consulting partner based in Troy, Michigan. We empower organizations by streamlining, transforming, and optimizing key human capital management (HCM) processes with industry-leading HCM cloud solutions like SAP SuccessFactors, Benefitfocus, WorkForce Software and Dell Boomi.