Many executives, HR professionals and boards embark on succession planning thinking it is a straightforward, finite process in which candidates are assessed and selected for predetermined roles. On the contrary, succession planning is one of the more complex and nuanced aspects of human capital management. It is not something that you can codify or get done in one sitting.
Succession planning is a focused program of keeping talent in the pipeline for the evolving roles that matter most to companies for the future. With thoughtful dialogue and participation, succession planning can be one of the most effective tools for leadership development and business growth. When handled poorly, it can be a waste of time and other precious organizational resources.
To succeed with your company's succession planning efforts, download my new whitepaper, "10 Pitfalls to Avoid When Embarking on Succession Planning". You can also join me for a webcast, 21 st Century Succession Planning - Growing Your High Potential Pipeline for the Roles That Matter Most, on Wednesday, February 22.
Amy Hirsh Robinson, Principal, Interchange Group
Workforce Strategies for the New Economy