No matter what the size of the organization, a business can’t run properly without an ebb and flow of talent. Skilled people need to be ready to take over the key positions when the present employees leave. Even the most successful organizations can fall off a cliff if they do not have a concrete succession plan in place.
For a lot of organizations, risk management involves succession planning. The chief purpose of succession planning is to reduce or avoid business interruptions and sustain momentum toward achieving the objectives. Another purpose is to avoid the needless loss of experience and knowledge occurring when a valuable employee departs unexpectedly or suddenly. Planning for the next generation of managers puts the organization a step ahead of the others. But there are a lot of organizations that focus only on the C-Suite administrators. They ignore the wealth of experience and information lost every year because of departures by the rank and file.
In this article, we will consider three ways to improve succession planning in the organization.
Recognize and Engage Strong Rank-and-File Employees
Talented employees can be trained and instructed to move into new positions. The recognition process should happen across the organization.
Every supervisor or manager should be assigned the responsibility to develop a strong bench. A little advanced preparation for succession planning saves a lot of time in the long run. Every leader knows the distress of having to stand in for a worker who is absent or departs suddenly. The role of leaders is to lead, instead of spending their time filling the absences, both planned and unplanned.
Instruct and Cross-Train the Replacements
Challenge the employees by informing them about the plan for them to “move up.” Methodize opportunities for employees to cross-train or shadow with someone senior.
The organization can schedule Employee A to spend a day or two with Employee B before the latter’s vacation. In the duration, Employee A fills in throughout the stint.
If the organization gives the same opportunity to Employee B with Employee C, who is senior to Employee B, then whenever the latter is promoted or departs unexpectedly, both Employees A and B can move up smoothly within the organization.
Develop and Document Job Processes, Methods, Controls
Every person in an organization has responsibilities to perform and document them. The organization should develop the chart for direct and indirect reporting. Assure that every internal and external communication is available in records. It will save the time of the employee locating the phone number of the customers or vendors.
Supervisors should work with the reports to create a detailed list of work functions and duties. Document everything and include controls, like authority purposes and the second level of analysis or approval.
It is vital for an organization to plan for succession at the peak. It may be critical for the organization to encourage and facilitate upward progress within all levels of the business.
To know more about succession planning, attend the Compliance Prime webinar.