Plannning proper succession reduces corporate risk

Plan for the future leadership needs of the business

Plan for the future leadership needs of the business - image of basket of eggs

No one knows for sure what the future will bring for your organisation. But it will need a ready supply of talented people to take it there.

Your job is to figure out what the new generation of leaders needs to look like, to spot potential and develop it.

To make this even more complicated, you have to structure this process in such a way that it meets potentially conflicting expectations: those of senior business leaders, HR and employees.

Get it right and you will unlock the key to talent retention. Get it wrong and your talent will leave the business in droves.

The commercial value

The business will see the value very clearly through money saved on external recruitment. Like any kind of forward planning, succession planning reduces risk by limiting the exposure of the business to a resource or skills gap. Alongside the protection of the business itself, the organisation benefits from increased investment – shareholders swarm round organisations who are taking direct action against unacceptable risk.

The Getfeedback approach

We focus our efforts where it will have the biggest impact – the creation and development of the talent pool. This underpins the outcome of the succession plan and is the process most fraught with pitfalls.

Here’s how:

  • Understand the current and future profile of a successful leader or manager
  • Create a talent pool. We can show you the pros and cons of a variety of ways of doing this
  • Assess talent pool against criteria
  • Tier talent pool. For example imminent successors, hi-potentials, standard development track
  • Develop each tier
  • Store the data online. Provide reporting access for business leaders, a self service career portal for the talent pool and an administration area for HR

Let’s get specific. Succession solutions.