Building bench strength with succession planning
Having the right people, in the right place, at the right time begins with identifying current and future staffing needs, in conjunction with a thorough understanding of position requirements.
To obtain a quick understanding of current and future staffing needs, you must first create a staffing/succession chart. This will help determine how employees are performing, who is on the verge of advancement, and who is on the verge of leaving.
Mapping out your staffing needs on paper, along with the answers to these determinations, will enable you to:
- Match the supply of manpower to the positions available and identify potential shortfalls or gaps.
- Consider potential movement scenarios.
- Determine where you need to have successors in place or in the process of learning necessary skills.
- Factor the “domino effect” of selecting an internal candidate into the succession planning process, potentially resulting in a different position vacancy.
- Transition an employee into a new role with a positive business effect.
- Forecast future recruiting needs, based on identified shortfalls or gaps.
For the success of your business, in terms of revenue growth and customer satisfaction, it is critical to start succession planning now, before a gap in your team places your business goals at risk.