Articles tagged "Succession Planning"
Besides the desire for control and independence, many of us start our own businesses to also determine our own financial futures. However, as we move closer to our retirement years, being able to retire in a financially comfortable manner may not be a reality if we haven’t created a business that will allow us to do so.
Being able to retire in a financially comfortable manner may not be a reality if we haven’t created a business that will allow us to do so.
The Vice President of Human Resources called. “I need to create a Strategic Workforce Plan for our company, get our leadership team on-board, teach all managers how to do this, and then implement this thing. How do I create this so it makes sense and doesn’t alienate everyone in the process?” That’s a great question, because the key issue is not “How do I do this?” The key issue is, “How do I get the leadership team on-board with me to design, implement, and use this plan to ensure we have a talented and flexible workforce now and in the future?”
As a leader, you know your organization should have a succession plan. Yet you’ve not been able to justify taking time away from real work to create one. Why take the time to plan for something that might be helpful someday?
If that question sounds like something you’ve thought or said, please understand that a succession plan is more than a plan of who can or could take over positions in the future. It’s also a plan of who can temporarily step into positions now to keep things going when you or other team members are away. Succession planning is all about creating depth within your organization – now and in the future.
In the April 21, 2015, Gallup® Business Journal, Amy Adkins wrote an article entitled: Only One in 10 People Possess the Talent to Manage. In her article she states that Gallup found,
"One of the most important decisions companies make is simply whom they name the manager...Companies fail to choose the candidate with the talent for the job 82% of the time."
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When my company works with organizations on succession and workforce planning, the discussions on departments, positions, talent, and managers needed going forward get emotional. They get emotional because we're discussing people. Good people. Hard working people. But, we are discussing people who may not be a right-fit for a management position, or for the company going forward. And those are difficult discussions to have.
Just so we're clear right from the start with the title of this article, I'm not talking about what many human resources professionals refer to as 'Workforce Readiness' i.e., The 'readiness' of individuals to enter or re-enter the workforce productively and the subsequent training needed to help them acquire the necessary skills to become employable.
What I'm talking about when I ask, you as a leader, How Ready is Your Workforce? is this: