In the days of a 'war for talent', succession planning is becoming a more and more important way of developing and retaining highly skilled and talented employees.
Using “old boy” networks is fast disappearing; these days,organisations need to be quicker, more flexible and better prepared if they are to win the ‘War for Talent’.
The Institute of Employment Studies has commissioned a report to help people who take over responsibility for succession planning in their business. It takes a very practical approach to a complex subject and includes advice from experienced practitioners in leading companies. It presents some simple models of how to think about succession planning, and concludes with some ‘top tips’. IES staff can also help companies become more effective in this area through its evidence based consultancy services.
Key findings from the new report by Wendy Hirsh include:
Hirsh explains: ‘It is often better to plan for a collection of similar jobs than to try and identify specific successors for every single post. It is also better to have a range of next steps in mind for each person than to try and narrow this down to just one job, which may disappear. Succession planning has become less about filling key jobs in advance and more about developing the ‘talent pool’ of the business.’
A research summary of Succession Planning Demystified by W Hirsh, IES Report 372, appears at www.employment-studies.co.uk. The full publication can be obtained for £19.95 from the IES.
