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Remember Succession Planning - Cobalt HR

November 9, 20200

Do you have a clear plan should a key member of staff leave unexpectedly?  How would you cope if a senior leader in your business became ill and was off work for a long period of time?  If you don’t have a plan in place for these scenarios, and they occur, it could have a major impact on your business.

There are some robust tools that can help you achieve great succession planning:

1.     A good appraisal process will help to identify development opportunities.

2.     360 degree appraisals, which include the views of customers and colleagues, will give a rounded view of overall performance and development gaps.

3.     A nine box grid, which will help you to identify potential, and what to do with it.

The following tips will help you get started in developing a great succession plan.

  • Identify key roles that are critical to business success.
  • Ensure your staff have clear career plans. Identify those who want promotion and those who are ready to leave.
  • Invest in the skills of your staff.
  • Do you have people thinking of retiring? How could you use their skills and expertise before they leave?
  • Implement a mentoring scheme to share expertise.
  • Keep your plan under review as things will change.
  • Develop all your people. If people feel you are leaving some out, it will have a negative effect.
  • Carry out a skills matrix to identify gaps and development potential.
  • Seek external people support if necessary.

Cobalt HR would be happy to work with you to develop succession planning tools for your business.

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