10 Key Steps to Effective Succession Planning This white paper provides a starting point to help decision-makers and HR practitioners alike contemplate the ins and outs of a practical succession planning program.
Using talent pools for succession planning is a proven industry best practice to ensure your organization's future talent needs can be met. They help you to cultivate talent from within your organization through targeted individual, organizational and leadership skill development activities that are aligned with your strategic 3-5 year plan. And they reward you with deeper bench strength and higher employee engagement and retention.
Determine Critical Competencies and Create Development Plans for Talent Pools
Group the diverse skills and competencies required in your organization into skill profiles for talent pools with common requirements. Talent pools should be for areas, not individual positions.
Define target ratings and weighting factors to create a competency model for each talent pool.
For each talent pool, associate development plans that include job rotations, key assignments, formal training, off-the-job activities, e-learning, and other individual, organizational and leadership development activities that help develop the required competencies.
Support Talent Pool Employee Development and Track Progress with Regular Talent Assessments
Develop employees in a talent pool with ongoing coaching and feedback, and career and development planning, and ensure employee engagement.
Conduct regular talent assessments to evaluate all employees in a talent pool against the competency model.
Collect feedback from the employee, their manager and anyone else familiar with the competencies that define the talent pool.
Assign additional development activities to build the skills required to close the gaps.
Identify employees at risk of leaving, when and why.
Monitor Talent Assessment and Succession Planning Progress and Results with Easy to Use Reports
Status and On Time Reports let HR track everyone's progress in a talent assessment process and notify those who have tasks past due.
A Talent Assessment Results report lets you see overall assessment results and adjust talent pool memberships as appropriate.
Drill down to see an Employee Talent Assessment Profile showing details on an individual employee including gap analysis.
Generate a Development Plan Report to see the status of development activities for a talent pool, for an individual, a division or the entire organization.
Export all talent assessment related data to a formatted text file suitable for import into a third party software utility.
