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Succession planning allows you to recruit and retain quality employees and develop their knowledge, skills and abilities. It also helps you prepare them for more challenging roles, and improve company performance even after your current leaders are long gone. And if you're thinking of moving on from your business, you'll need to choose the most appropriate option for you and your staff.
Some things to consider
If you’re thinking about a succession plan, consider what your organisation’s needs will be in the future. Think about future job roles that may not exist yet:
- What’s the development strategy for your business?
- Does it help you identify any potential skills gaps you have right now, or will have in the future?
- What about your own talent pipeline? Maybe you already have people with the knowledge and skills to fill these new roles.
Get started
The good news is that pulling a succession plan together doesn’t have to be a major time commitment. Check out Investors in People's 10 tips. And you can:
- Identify who needs to be brought into the planning stage. Once there, track their thoughts.
- Identify the budding stars − potential is just as important as proven talent. Give them projects in different teams to widen their experience.
- Understand the future requirements and strategy of the business.
- Make the plan coherent and communicate it − just don’t tell employees who is being ear-marked for higher things.
- Put contingency plans in place for critical roles in your business.
What’s next?
Need help?
- Call our employer helpline on 0800 783 6000 and an Employer Engagement Adviser will be in touch.
- Alternatively, contact us online using our quick skills support request form.
- Or if you want free resources and more information about succession planning then visit Investors in People for more guidance.
- You can also get free advice on succession planning from Scottish Enterprise.