Succession planning in companies around the world is coming to a cliff. The baby boomer generation will soon retire in droves. What will happen to the strength of your bench from this exodus?
Successful succession planning really comes down to a system of development with a proper plan in place. You cannot magically discover talent, throw them into a position and expect results. Instead follow this easy process to put in place a plan that delivers developed leaders.
Put into practice employee development processes that both evaluate employee strengths and weaknesses and encourage growth. Remember, it is not the process that matters, it is results. Assess your talent development with goal focused objectives that matter most to your company. Define success and measure it.
Lastly, keep the process simple. Develop your succession planning in-house with an easy to follow process. At the end of the day you also need to be realistic. Talent develops over time, not instantly.
[more-info]Download 4 Steps To Effective Succession Planning[/more-info]Find out how the McQuaig Psychometric System can improve succession planning in your organisation. Call 0203 111 9292 or contact us here.
