Succession Planning Defined
Succession Planning focuses on meeting contingency staffing needs when a critical role become vacant or the incumbent becomes incapacitated in some significant way. Succession Planning works well when:
- The role is relatively stable over time in terms of its existence and its purpose;
- There is a single (small number) incumbent(s) in the role;
- and, there is value in being able draw from a select pool of standby talent to meet contingent needs.
When such a position becomes vacant on more a permanent basis (e.g., retirement, promotion, resignation) the top (at the moment) “pool” candidate can be tapped to fill the role on an interim basis.Often this person will be considered a “front runner” in the permanent filling of the position; however, it is very common and often sensible to utilize a formal recruitment process to ensure we are hiring the most appropriate candidate, considering both internal and external resources.
The benefit of Succession Planning is that it provides the organization time to consider and act on its best long term interests regarding the role in question. For example:
“Do we know if our top internal candidate is the best candidate?”
- The only way to answer a question like this is to compare our internal related talent pool to possible external talent.
- “Should we reshape the role so that it will better meet future needs?”
- Using the succession pool as a bridging strategy, we have the time to properly assess our future needs. Again, we may have to look at a broader pool of candidates as our internal succession pool may not possess all the capabilities we desire.
Succession Planning is a wonderful strategy for allowing the organization to meet these kinds of TM key role replacement needs.
Workforce Planning Defined
Workforce Planning works well for multi-incumbered roles where assumptions regarding attrition and productivity become significant.
Major Benefits to clients in using Tekara’s approach to Succession and Workforce Planning forms of TM include:
- Recognize that the most effective TM solution that supports business goals achievement may require options other than employment
- Better assess your ongoing dynamic talent needs by focusing on productivity.
- Better understand the potential impact of business risks and use dynamic thinking and modeling to prepare for contingencies.