If a key leadership position were to go unexpectedly vacant tomorrow, how quickly could your company fill it with a qualified internal candidate?
A big lever for driving culture is leadership, yet only 10% of organizations feel comfortable with succession planning, according to research by Deloitte.
Succession planning is a management process that, when executed effectively, ensures that employees are properly recruited and developed so that they have the skills and experience necessary to step up and fill a key role within the company when the time is right. The process of succession planning addresses how to identify and evaluate those individuals with proven potential as future leaders, create plans for developing their talent, and work with leadership to create a smooth transition process.
HRG can assist you in all stages of the succession planning process including:
- Conducting interviews with the executive team to determine current and future competencies
- Reviewing strategic planning documents to further develop key competencies for future leaders
- Assessing the current performance management system and leadership evaluation measures
- Creating a succession planning tool for implementation
- Designing development plans for those individuals being groomed for future leadership roles
- Providing integrated leadership development initiatives for those being developed for executive roles