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3 Reasons Why Succession Planning Should Be Next On Your To-Do List

By / January 30, 2020 / / 0 Comments

Before we tell you why succession planning should be at the top of your priority list, let’s get the basics right. This article will cover the following topics:

· What is succession planning?
· Why is it important?
· What are the benefits?
· How can Navigo help?
· Where to learn more? (Hint: it’s our succession planning webinar!)

Succession planning, as the name suggests, is about choosing the right successors for important roles in your organisation. This means finding successors with the right potential, skillset, qualifications and a good understanding of the position. In other words, succession planning is focused on creating a pipeline of talented employees who are capable of filling future key positions within the business.

There are many reasons why succession planning should be a key aspect of your workforce plan. Below are the top 3:

 

1. Executive search is expensive

Having the foresight to develop the top talent you currently have, actively recruiting top talent and making sure you develop their skills is an important strategy.

 

2. Identification of key roles

The heart of the talent management process is identifying key roles. Map out ways to ensure your organisation has the right people with the right skills and experiences, in the right place at the right time.

 

3. Becoming better equipped to deal with uncertainties

Change is the only constant, organisations need to prepare for the next generation of leaders. The damage of losing organisational knowledge through ineffective role handover cannot be underestimated.

 

Key benefits of succession planning

1. Improving employee retention with leadership development
2. Identifying top performers and protecting key positions
3. Reducing costs (it’s more cost-effective compared to hiring and training)
4. Increasing the availability of capable individuals for management positions
5. increasing engagement as employees have a clear direction of their path within the organisation

As HR solutions providers, we know how painful it is to maintain succession plans in PowerPoint or spreadsheets. Traditionally, these plans are difficult to implement, often time consuming and out-of-date. There is an easier way! Navigo provides org charts that integrate into your HR system, automatically generating and maintaining an easy to use succession plan. Discover HR analytics that will help you to quickly identify your high performers and key positions. Here’s a little preview:

SuccessionSuccession Planning with OrgPlus Desktop

To get started with a basic succession planning org chart, download our free trial of OrgPlus Desktop. If you require a more comprehensive plan, chat with one of our consultants today!

Want to learn more? Watch our free webinar, hosted by Andrew Rees, outlining the high-level strategy of building your own succession plan.

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about the author
Prajna Shettigar

Prajna. Navigo's Marketing Coordinator, is passionate about HR Technology and all things digital. She is always looking for creative solutions to help organisations turn their HR data into meaningful information.