Succession Planning
- Identifying talent for key posts in the short and long-term
- Managing integration and fluidity in succession planning
- Creating a culture of investment in human capital
The term succession planning, first used over 20 years ago, has come to mean very different things. We see it as an important but integral part of a talent management system concerned with identifying potential successors for specific jobs or categories of work. More broadly, succession planning contributes to the development of a culture of human capital investment by facilitating a broad search for potential candidates for key positions.
Driven by the need to align future talent with the strategic needs of the business, succession planning has both long and short-term impact; in the short-term, individuals are identified as successors for key posts while in the longer-term individuals are identified for their potential allowing job allocation, career management and development opportunities to be mapped and planned. The process of succession planning is iterative in nature and the succession plan is necessarily fluid, being regularly up-dated as organisations’ needs, roles, vacancies and people change and develop.
Succession Planning with PSI
We work to develop appropriate succession planning processes that meet clients’ needs and connect to other integral dimensions of talent management to achieve the overall benefits of effective human capital management.
