Developing and identifying new leaders for a company or organization is widely considered as a process which often called succession. Succesion of leader begin when old leaders die or retire, and it usually aims for preventing a power vacuum or continuity of leadership. In an empire, succession planning is identical with that of order of succession, whereas in business it has a main purpose, that is, to choose the right individual who has potential to fill leadership positions. So it is quite crucial for every business development. Take this as a process of screening, in which a person will be prepared to assume the role of leadership as s/he become available.
If we take such term in a narrow understanding, there is key role namely “replacement planning” which become the essence of succession planning. Every business will through this process, so it is safe to assume that the planning is common under the very modern meaning of industrial society. There is a 5 step process in every replacement planning, including:
When talking about succession planning, the main focus is to identify each and every critical positions available within a company. This must be done in order so that a business or company be able to meet its business objectives. At which point, demographic analysis and workforce projection data is essential, as the both help a company or organization in identifying risk areas available. A company or organization can also compared and conduct a risk assessment to future and current vacancies. With these schemes, a company will be able to identify critical positions within a specific agency or department.
- Identification of competencies
A company must have a clear understanding of capabilities needed and required for successful performances in some areas which considered as important and critical. In this sense, critical positions became essential particularly for assessing performance, get a set of performance expectations, and for guiding development and learning plans.
If both critical positions and competencies have been identified, a company need to do the next step. It is choosing dish that is listed on several management/human resource strategies, including recruitment, onboarding, and developing internal talent pools to address succession planning.
- Implement and document succession plans
If strategies have been identified, the next step is to document them in a plan of action. The latter provides a specific mechanism for clearly dividing responsibilities and roles and time lines. This considered as one of the most important focuses within the whole process of succession planning.
- Lastly: evaluate effectiveness
A company that execute succession planning must realize the importance of making necessary adjustments, evaluate activities, and monitor workforce data. All of which should be done in a systematic way. Furthermore, it is done to make sure that the planning efforts are successful.
These 5 step process are considered important for each planning that involve succession of a leader within an organization or business. One of them can not be ignored, and each points complement the other points.