Six Benefits of Automating your Succession Strategy
As the generation of baby boomers transitions out of the workforce, how effectively HR professionals fill their senior roles will be a critical factor for the success of their organization moving forward. Many companies struggle with comprehensive succession planning as most are using outdated, manual, error-prone processes that lack the scope to effectively fill voids left in upper management. To overcome this challenge, companies should consider using succession planning software that can automate and streamline the succession process, prior to departures.
By automating components of succession planning and leveraging talent management information, HR professionals and company leaders can:
# 1: Increase Visibility of Effective Rewards Programs
Succession planning tools make it easy for executives to flag employees they see as high-potential candidates for upper level positions. Once a candidate is identified, the tool can help track those employees and designate career paths that lead to long term success. With this information at the HR professional’s fingertips, they can effectively tailor rewards programs to suit an employee’s desires and keep them focused on their future within the organization.
#2: Strengthen the Internal Talent Pool
An organization can benefit from succession planning technology by gaining greater visibility across the entire talent pool. When a senior level executive resigns without a viable successor in place, organizations tend to look for an external candidate. However, in doing so they might overlook a qualified candidate in another area of the organization that could fill the role and save time and money from disruptions in workflow.
#3: Limit Organizational Exposure
Succession planning tools also provide a vehicle for a standard, centralized process that is visible throughout an organization. If a manager or HR professional has been keeping a personal spreadsheet or making informal notes about new assignments, promotions, flagging high-potential employees, etc., the potential benefit of that information may not be realized since it is not visible to other managers or HR personnel. Multiple managers could be designating the same person for a promotion in different roles, or a qualified candidate may be overlooked because they are in another area of business outside of a manager’s current visibility.
#4: Proving Performance Equals Success
For a performance driven culture to succeed, processes must be visible to employees. An organization has to illustrate that hard work and meaningful contributions to the organization will be rewarded by advancement. By rewarding top performing employees with opportunities to move up, their peers will take notice and try to follow suit. If those top performers are being passed up in favor of external candidates, employees in the organization may start to question the reason for working hard and productivity could plummet.
#5: Facilitate Conversation around Top Talent
Having tangible succession planning data allows executives to quickly and easily look at the rationale for promotions or special designations, evaluate those decisions and provide a foundation for the conversation if there are any questions. Additionally, data-driven decisions backed from employee evaluation software are more transparent and less scrutinized by internal and external stakeholders.
#6: Constant, Proactive Planning
Yearly performance evaluations have been the traditional avenue for succession decisions, but in today’s corporate environment the landscape can change much faster. Automated systems make succession planning an ongoing process rather than a yearly event. Successors are identified and groomed before a position opens so organizations are less susceptible to unanticipated scenarios.
In the end, automating succession planning helps avoid pitfalls in loss of top talent and streamlines the succession process. This greatly reduces the amount and duration of disruptions in workflow throughout transitions in upper level roles. It is up to the organization to retain and cultivate top talent, and an integrated HR solution can help managers weave succession planning into their regular routine.
This guest post was provided by Chris Caldon. Chris is a Senior Vice President for Peoplefluent, a leading provider of talent management software. Chris has more than 20 years of experience in the Talent Management sector.