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As your business continues to grow, your employees are also growing and a new position needs to be filled out with the best candidates. Succession planning has become a vital part of forming a complete talent supply chain and produce talent output.
So, what are some of the misunderstandings when performing succession planning? Also, how to build an efficient model to develop and sustain future leaders? Here are the answers to your questions.
Succession planning is a dynamic process. HR should not only identify who is the best successor but should also enrich talent pool and pipeline as backbones to counter successor scarcity. HR also needs to plan out the time difference between the selection of successors to avoid conflict.
It is undeniable that a large part of the talent in the succession plan comes from internal employees. However, in order to match the qualifications of key positions, the company should also have an external succession talent pool and recruit in advance to avoid having key positions vacancy.
Many HR believe that inform employees about their career path will cause them to worry about hitting the glass ceiling, thereby reducing work motivation.
In fact, for high-potential employees in those key positions, they often know more about business needs than HR. Employees can often recognize their future career paths and develop their career plans based on job qualifications. Making career paths transparent allows employees to see more growth possibilities within the company.
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