Management succession planning is the planning for the availability of competent workforce pool who can replace valuable management staffs if there is need of manpower in the company. Before companies only looked for new employees’ right before on left. This caused uncertainty that the vacant place would be filled with equally qualified person. In the current market competition, loosing valuable employees can bring problems for the company. So the company plans before hand and prepares competent manpower for potential loss of valid employees. “In an overall definition, succession planning is a vital structure that takes into account the organization’s resources for the maintenance and development of high potential employees. (Mehrabani & Mohamad, 2011)”
Companies undergo a vigorous analysis and talent audit of the current employee in their organization on their talent, skills, leadership roles etc can ascertain if they could be good leaders or mangers in the future. Based on this analysis the selected employees are groomed over years. Company resources are spent on them for trainings and small decision making roles are hand down to them. Over the years they are groomed to become the next managerial workforce for the company. (Armstrong, 2012) founded the following: Management succession planning is the process of assessing and auditing the talent in the organization in order to answer three fundamental questions:
First, are there enough potential successors available – a supply of people coming through who can take key roles in the longer term?
Second, are they good enough?
Third, do they have the right skills and competencies for the future?
Young candidates chosen for the grooming will have the opportunity to get their career developed by the company. This would be a golden opportunity for any talented and hardworking candidates. Both the company and the candidate can get high benefit by working together.
References
Armstrong, M. (2012). Management Succession planning. In M. Armstrong, ARMSTRON’S HANDBOOK OF HUMAN RESOURCE MANAGEMENT PRACTICES (12 ed., p. 261). London: Kogan Page.
Mehrabani, S. E., & Mohamad, N. A. (2011). Identifying the Important Factors Influencing the Implementation of Succession Planning. 2011 International Conference on Information and Finance , IPEDR vol.21 (2011). Singapore, Singapore: IACSIT Press. Retrieved from JURN: pdfs.semanticscholar.org/6584/fc03...
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Management succession planning is the planning for the availability of competent workforce pool who can replace valuable management staffs if there is need of manpower in the company. Before companies only looked for new employees’ right before on left. This caused uncertainty that the vacant place would be filled with equally qualified person. In the current market competition, loosing valuable employees can bring problems for the company. So the company plans before hand and prepares competent manpower for potential loss of valid employees. “In an overall definition, succession planning is a vital structure that takes into account the organization’s resources for the maintenance and development of high potential employees. (Mehrabani & Mohamad, 2011)”
Companies undergo a vigorous analysis and talent audit of the current employee in their organization on their talent, skills, leadership roles etc can ascertain if they could be good leaders or mangers in the future. Based on this analysis the selected employees are groomed over years. Company resources are spent on them for trainings and small decision making roles are hand down to them. Over the years they are groomed to become the next managerial workforce for the company. (Armstrong, 2012) founded the following: Management succession planning is the process of assessing and auditing the talent in the organization in order to answer three fundamental questions:
First, are there enough potential successors available – a supply of people coming through who can take key roles in the longer term?
Second, are they good enough?
Third, do they have the right skills and competencies for the future?
Young candidates chosen for the grooming will have the opportunity to get their career developed by the company. This would be a golden opportunity for any talented and hardworking candidates. Both the company and the candidate can get high benefit by working together.
References
Armstrong, M. (2012). Management Succession planning. In M. Armstrong, ARMSTRON’S HANDBOOK OF HUMAN RESOURCE MANAGEMENT PRACTICES (12 ed., p. 261). London: Kogan Page.
Mehrabani, S. E., & Mohamad, N. A. (2011). Identifying the Important Factors Influencing the Implementation of Succession Planning. 2011 International Conference on Information and Finance , IPEDR vol.21 (2011). Singapore, Singapore: IACSIT Press. Retrieved from JURN: pdfs.semanticscholar.org/6584/fc03...