Succession management thus joins with career management, together reinventing themselves to become a strategic business priority. These are the findings revealed by the “Report on Career and Succession Management”, following a study conducted by the Top Employers Institute among 600 organisations and more than 3,000 employees in 99 countries. The data gathered demonstrates the importance of those processes for companies in Spain, with 94% of Top Employers relying on career and succession models.
According to the conclusions drawn in this report, there is a tendency to have the career plan permeate the entire organisation, and to personalise it for each employee. 98% of companies certified in Spain have implemented individualised development plans that all employees discuss with their managers in formal meetings, where subsequent career steps are also discussed.
Some of the tools used for advancing employees' career plans are encouraging international mobility (used by 90% of companies certified in Spain), coaching (87%), expatriation, enriching the position, special assignments or mentoring.
An example of good practice in personalised career management at every level of the organisation is that of Zurich. With its Lezama programme, the insurance company has designed a structure that guarantees all employees grow in "a successful style", developing them for their present and future tasks within the organisation.
The style which Zurich fosters with Lezama is based on prioritising internal promotion (young blood), offering an individualised development plan with regular monitoring and continual assessment, consolidating technical and business knowledge, and encouraging a culture of high yield. All of this aims to reinforce the feeling of belonging within the company.
The companies analysed in the Top Employers Institute’s report are aware of the vital importance of employees' engagement. Their careers within the company must be given meaning. Attracting, developing and retaining talent is a key issue for organisations. Career and succession management is at the core of these endeavours, since it should help employees reach their professional goals and engage them in the long term. Clear career maps should be used to show them what they can achieve and what they need to achieve this.
The report’s findings establish the importance given to developing employees. Every certified Top Employer in Spain encourages managers to actively promote their teams' careers, and in 94% of these companies the executive management is involved in employee mobility throughout the organisation.
In the end, career and succession management processes are key for enhancing the commitment of Millennials, who require greater transparency regarding available opportunities, and managers who support them when it comes to deciding on their next career steps. In order to achieve this, it is indispensable that this process forms part of their everyday work.
