Succession Management has previously become an established process within larger organisations as they have sought to maintain leadership continuity through a pipeline of emerging talent. However we are now seeing an increasing recognition of value of succession management processes, from smaller organisations.
Broader focus
Whilst the emphasis for succession planning remains linked with executive level and critical management positions (92% and 94% of participants* respectively having succession plans in place for those two positions), it is no longer only about ensuring the continuity of senior roles. There is now a broader focus, for example increasingly on critical positions for expert roles, with 79% of participants having such a succession plan in place. The same proportion (79%) also use succession management processes to identify CEO successors. It is worth noting that the best-in-class Top Employers have plans to cater for all these categories and positions.
Improve retention and engagement
In line with greater adoption and broader focus comes a shift in ownership of Succession Management, away from HR and towards the business. The processes are maturing – no longer solely concerned with strengthening the leadership pipeline, they are now crucial to help improve retention and engagement within the business, not least for the emerging millennial workforce, who have interesting career perspective for themselves within the whole organisation. This should manifest itself through greater transparency around the wider opportunities available, and willingness by managers to encourage and support their employees when thinking of potential next steps.
From event to process
To ensure that this broader approach is effective, Career & Succession Management planning is evolving from a one-off event executed by HR, to an ongoing process of development and mentoring delivered by managers as part of their everyday work. This includes goal-setting, regular check-ins and the evaluation of progress over time, underlining a clear link between Succession Management, Performance Management, and Learning & Development.
*Only organisations that achieve the highest standards of excellence in employee conditions, receive a Top Employers certification. In the Career & Succession Management report referred to as participants.
Four key trends
'Succession Management becomes a mature practice' is one of the four key trends we have identified in the Career & Succession Management report. These four trends are shaping the way we approach Career & Succession Management.
Each trend signals a move away from using the process purely to identify future leadership and senior management ipelines, and towards one that helps to underline and enhance the organisation’s efforts to retain, develop and engage their employees.
Download the full Career & Succession Management report to learn all about the current trends in Career & Succession Management and how organisations deal with these trends in their business processes.
