Importance Of Succession Planning

Register to read the introduction… It seems that a lot of companies are realizing that replacement hiring is not the best option for long term quality employees. Companies are starting to realize the commitment level that employees are willing to give when they have companies that train and promote within. Succession planning looks within the company and finds its future leaders and manager from the ranks. The company will then send the selected employees through various training and developmental programs to get them ready for future succession. This could be a lengthy process and employees should not look at this plan as a two week training period. Succession planning is a drawn out process for the future needs of the company. A replacement hiring method usually brings people in right away for a specific job opening that the company was not preparing or planning for. Succession planning allows for the company to pick candidates that are right for a position that may have someone retiring in the next two years. This will give the employee a two year period to learn and train with the person they are taking over for. It is important for the company to choose the best of their talent pool when they are planning for future trends. Succession planning also allows for the company to give employees a shot at reaching their career goals within the company. It is always a good thing for an employee to know they do not have to leave their company in hopes of advancing. Moral and performance are usually higher when employees know that they are not working in a dead end position. Our company will give all employees the chance to further their …show more content…
I believe that our company can benefit greatly and build a future that has no boundaries. I believe that our company can use succession planning to our benefit by keeping a deep group of candidates for possible promotion within the company. It is always good to have someone trained and ready to take over in the event we have someone leave the company. The company should have an idea of what members of leadership are coming upon retirement or which ones are approaching the end of their time with the company. We must understand that there are going to be instances where we may lose people that we are not planning on losing. Succession planning will come in handy and have people ready to assume these positions in these instances. It is crucial to have people being trained and obtaining the knowledge that our leadership can pass on. This will entail for our company’s morals and prior knowledge to be passed down to our new leadership recruits. I also feel that it will continue to give our company a good reputation as being a place that challenges our employees and works dramatically to enhance their careers. People look for places like this when they are transitioning their careers. This program will make us the place all career oriented people will want to work. This will allow for us to keep recruiting the top talent for both our organization and our succession planning