In business it is very important to plan succession so that there would be no gap between the predecessor (goer) and successor (taker).
There are seven points that the top management should ask about their companies to determine how well career development and succession planning are being undertaken at the management level and immediate subordinates.
In doing so, the management should answer the following questions to get good basis for decision making. The questions are:
* What succession-planning is needed for top managements (CEO, CFO or CHRO)?
* What standard is the company using in assessing the competence of its senior executives and their immediate subordinates? People oriented? Task oriented? Knowledge based? Social capital based? (not the best one).
* How long do they need to implement the succession planning at the senior executive level?
* Who has the most potential leadership skill which is appropriate to your type of business? Different business needs different type of leadership. How are they working and trained now?
* What measures has the company taken to face with global workforce planning. What kind of skills and talents will the company need in five years time? What is the strategy to get them?
* How is the company finding the talented people who are critical to mission achievement?
* Is human resources able to find the right person to fill in the above questions? If not, what strategy or tactics should the company use to find them?
In most of the company, just because of poor succession planning, the recently lucrative business turn into chaos at the immediate leave of the top management.
Therefore, it is worth preparing human resource ready for any expected or unexpected change and train or run them for the possible post. If an outsider comes to the top management, the company culture and other established conduct can be in conflict with their leadership style although they can also bring outside knowledge to the company.
Ref: Claudia Lacy Kelly, Business week, 09/12/08.
There are seven points that the top management should ask about their companies to determine how well career development and succession planning are being undertaken at the management level and immediate subordinates.
In doing so, the management should answer the following questions to get good basis for decision making. The questions are:
* What succession-planning is needed for top managements (CEO, CFO or CHRO)?
* What standard is the company using in assessing the competence of its senior executives and their immediate subordinates? People oriented? Task oriented? Knowledge based? Social capital based? (not the best one).
* How long do they need to implement the succession planning at the senior executive level?
* Who has the most potential leadership skill which is appropriate to your type of business? Different business needs different type of leadership. How are they working and trained now?
* What measures has the company taken to face with global workforce planning. What kind of skills and talents will the company need in five years time? What is the strategy to get them?
* How is the company finding the talented people who are critical to mission achievement?
* Is human resources able to find the right person to fill in the above questions? If not, what strategy or tactics should the company use to find them?
In most of the company, just because of poor succession planning, the recently lucrative business turn into chaos at the immediate leave of the top management.
Therefore, it is worth preparing human resource ready for any expected or unexpected change and train or run them for the possible post. If an outsider comes to the top management, the company culture and other established conduct can be in conflict with their leadership style although they can also bring outside knowledge to the company.
Ref: Claudia Lacy Kelly, Business week, 09/12/08.
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