Analysts claim that talent shortages will pose one of the greatest economic threats to businesses over the next 20 years. Yet, many organizations have not created the career and succession planning infrastructure that will help mitigate the risks of talent shortages. Successful businesses are increasingly embracing succession planning to deepen their employee bench strength and ensure top talent at every level of the company. This course will explore a methodology for succession planning within the context of a broader talent management strategy and examine best practices for successful implementation.
Key Learning Objectives:
- Develop an understanding of succession planning, its importance and best practices for implementation
- Learn how succession planning and talent development need to be linked with strategic planning and performance evaluation
- Explore how to keep succession plans current and communicated to employees
- Examine the steps involved in developing a succession plan, including developing competency profiles, identifying talent gaps, assessing current talent and succession candidates, and establishing development plans for successors and high potential candidates
- Encourage employee engagement and improve retention through career management