Succession Planning

A strategic HR process designed to identify and develop future leaders within an organization to ensure continuity in key roles.HR professionals use succession planning to assess high-potential employees, provide leadership training, and create career growth pathways. Effective succession planning minimizes disruptions and prepares companies for leadership transitions.

FAQ

What are the five steps to succession planning?
  • Identify key roles and responsibilities that are critical to your organization’s future
  • Analyze the skills and competencies needed for those roles
  • Assess and identify high-potential employees who could fill them
  • Create a development plan for those employees to grow their skills and readiness
  • Monitor and review the succession plan regularly to account for changing needs and progress

What is the role of HR in succession planning?

HR is responsible for facilitating and guiding the succession planning process. This includes:

  • Providing data on performance and potential
  • Helping identify competency gaps
  • Designing training and development plans
  • Ensuring fairness, objectivity, and equity in selections
  • Aligning succession plans with business goals and workforce strategy
  • Communicating the process transparently to stakeholders

How to write a succession plan?
  • Clearly list key roles and responsibilities that need a successor
  • Identify critical skills and competencies for each role
  • Develop a pool of high-potential candidates
  • Provide a tailored development plan (stretch assignments, training, mentoring) for each candidate
  • Set timelines and readiness criteria to track progress
  • Include a process for review and update (typically once or twice a year)
  • Communicate the plan to stakeholders to align expectations