According to the 2016 HR Trends & Priorities Survey, using talent pools for succession planning was rated in the top half of emerging trends for the year, and was the most impactful implemented trend year over year. However, succession planning was tied as the least effective HR area out of 30 areas in the same survey.
Traditional succession planning is no longer an option for organizations that operate in a high-change environment. The alternative of flexible succession planning using talent pools can be difficult to implement, with a number of barriers to success.
Kelowna HR’s Insights
- In order to implement flexible succession planning, ensure that you have the proper HR key practices in place and that you have the support of a committee to conduct planning with.
- Identify key gaps to plan for by tying them to your business strategy and initiatives.
- Develop talent pools to close key gaps by mapping them back to the gaps, setting minimum requirements, populating them with employees, and managing the progression of employees as they develop in the pool.
- Manage the plan by ensuring you communicate to the proper audience and frequently assess both employees and the plan to ensure you have the most up-to-date information to select a final successor.
Developing a successful succession plan is key to addressing looming skill gaps, developing employees, and building organizational bench strength.
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