|
Most discussions on succession planning center around strategies on how to replace/change top leadership. Yet it is my contention that if businesses only focus on replacement strategies for key leadership they will soon find themselves with no one to lead. Attention needs to be given to strategies for recruiting, replacing and promoting individuals at all levels in the company.
As baby boomers continue to age businesses are, or soon will be, finding that the number of retirements is increasing at an alarming rate. What compounds this succession planning issue even further is that the projections for the number of individuals entering the available labor pool will be far below the number of workers reaching retirement age. This will result in a shortage of workers to fill jobs. Businesses need a plan to meet their needs.
Advances in technology will reduce some of the need for new jobs. This new technology itself creates a double-edged sword. The individuals needed to fill the remaining positions will need to be of a higher skill level to perform the functions of the job.
To meet the need for a future workforce, business will need to develop a succession planning strategy for recruiting new skilled workers. Recruiting sources need to be identified and cultivated. Establishing partnerships with colleges and tech programs to recruit students, then training them with the skills that they need, will be of value to the business.
Another source of skilled workers to consider are those that are non-US born. This will require businesses to be abreast of immigration and visa laws. Diversity training will be needed for both the business and the community.
To help meet future needs within the organization, businesses need to review their interviewing and selection procedure. No longer can companies afford to fill a position, the selection needs to be such that it has future possibilities for the organization. Newly hired individuals need a personal development plan in place shortly after they begin their job.
Promotions will also begin to occur at a more rapid rate as the baby boomers retire. This will require companies to have training programs for workers to learn the skills necessary to be a leader in the business. Younger workers will be thrust into leadership roles sooner than before, without the luxury of time on the job to mentor and to mature.
Though having a plan in place to replace key executives is important, a comprehensive succession management must go beyond that to include recruitment and promotional strategies for all levels of the business. |
Succession Management Begins with Recruitmentby Eric R. Branson, SPHR |
|
Eric Branson and Associates Providers of Human Resource Management |
|
(For more information on Succession Management and other Human Resource issues, contact Eric Branson, SPHR at: Eric Branson and Associates, 23 Lexington Square, Mason City, Iowa 50401. Tel. 641-425-5806. e-mail: contact@ericbranson.com) |
