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What is Succession Planning?

As one aspect of talent management, succession planning has many different technical terms that can confuse the best of us. Luckily, once you cut through the jargon, this process is largely common sense.

In this white paper, we aim to clarify just what is succession planning? In addition, we also hope to provide some tips on how to implement this process successfully within your own organisations.

Where to begin?

At its heart, succession planning is about risk management and contingency planning. In the event of a loss of a key player, having a strategic approach to managing the flow of talent is extremely beneficial. By setting up a succession plan, you can ensure that you have the right people in the right place at the right time.

Whether you are looking to implement succession planning for the first time or are looking to improve a system you currently have in place, there are two main questions to ask when considering this process:

  • Which roles or positions are essential to business survival or delivering the strategy?
  • Which roles require highly specialised knowledge or skills that are difficult or expensive to recruit in or to replace?

As with so many topics in HR, succession planning contains far too much jargon. Therefore. we will aim to define or explain the following subjects in this white paper:

  1. Top-down or bottom-up succession planning
  2. Readiness
  3. Potential
  4. The 9-box grid
  5. Bench strength
  6. Flight risk
  7. Breadth of Leadership pipeline

Furthermore, this white paper provides some ‘food for thought’ on debates around this topic, such as whether you should tell your talent that they are, in fact, on a succession plan.

Performance Management Resources

Finally, to access this resource you will need to fill out your details on the form to the right of this page. Certainly, if you are interested in learning more about this topic, you can find additional resources using the buttons on this page below.

At Actus, we offer more than free HR resources and great performance management software! We also have a team of organisational development consultants who are on-hand to help meet your performance management needs or requirements for culture change. In addition, if you would like to find out more about this service, why not get in touch by contacting us here.

Listen to the related HR Uprising Podcast: Succession Planning Jargon Buster

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