No company can guarantee their ability to retain employees. Again and again, important key figures quit for personal and professional reasons. In such situations, a good succession plan is indispensible-after all, the company must go on. Filling a gap can quickly become a problem, as every qualified employee creates his or her own processes and is an expert in his or her field and position. Replacing such a person can quickly become an expensive endeavour, cost you a lot of time, and truly challenge you. Only with a well thought-out employee succession plan can you minimise the problem. We provide you with advice on creating a plan of succession.
Locating leaders - the key to good succession planning
Actively look for highly qualified employees in your company who are capable of assuming responsibility and ensuring the plan of succession in cases of emergency. Such individuals can assume leadership roles and allow you to react with caution and to secure a sense of continuity in company leadership. Plus: By giving qualified employees a chance to prove themselves in a leadership position now, you retain the top talents in your company over the long term and secure your plan of succession.
Planning for the successor - in time and in a targeted manner
During times when there is no stress, you should develop a plan that facilitates solid succession guidelines. Which role in the company requires which key competencies? Search amongst the highly qualified employees to find a person who could best fulfil the requirements. You need to act if you have found a potential successor. Let this talented individual start growing into their future role now. Your top talents are hard to replace, so motivate them to stay. When making a plan of succession it is important to determine a method for training the potential successor's key qualifications. Whether through mentoring and coaching, training sessions or a feedback process, you need to find the ideal method for you and your potential successor. If you are still not sure about possible successors, job rotation is a great way of answering many questions. Watch what candidates do in new roles and determine which combinations could work. In this way, your employees establish new networks and start making connections today that will be relevant in the future. Succession planning that is well thought out envisions a transfer of knowledge within a company, resulting in long-term benefits.
Succession planning - an unending process
When planning a successor employee, it is important to remember that your choice is not a one-time, completed act. Finding sucessors for important positions and preparing your choice step by step takes time and continuity. Always look for any lack of qualfications in leadership positions and determine general skills for all of these positions. You can offer training in a targeted manner, thereby ensuring that qualified people are in the right positions in your company-both today and in the future.