The HR department holds a significant role in many companies. Besides hiring the right people and taking care of all employees, this department is also responsible for ensuring that the right people will be prepared to lead the company in the future.

When it comes to the talent management process, one of the most challenging yet critical things to do is succession planning. Changing leaders is a disruptive move, and it should be well-planned and well-studied to not throw the business into disarray. 

Defining Succession Planning and Its Importance

Different situations will eventually lead to job vacancies. It can be from a planned retirement to unexpected resignation, termination, or even death. 

Succession planning refers to the devising and implementing of the transition of leadership from one person to another. The HR department usually oversees this process, but it also involves the candidate’s input and help from the upper management. Some of the steps include recruiting new talents, honing existing talents, assessing the selected talents, onboarding the new leader, and successfully transitioning from the old leader to the new one.

Succession planning is important in any organization. Not everyone is meant to stay in their position forever, and things will continue to change and upgrade eventually. This means that an organization needs to adapt to these changes to survive. With succession planning in place, the transition will be smoother and more thorough.

This transition journey should not begin when someone announces their retirement. The best time to plan for a transition and leadership preparation is years in advance. 

When done right, it also helps save on company expenses. Grooming and investing in an existing employee is less costly than acquiring an external applicant. At the same time, it lets the company enable growth for its employees. Preparing ahead will also make the transition easier, even if it is unanticipated.  

The Role of the HR Department

The HR department is not the key decision-maker in the succession planning process. It is the ultimate responsibility of senior management and the board of directors, but HR is in charge of implementing the steps. Here are some of the tasks they need to perform:

• Find the right candidates to fit into the organization’s culture.
• Develop quality evaluation programs that will generate timely and meaningful feedback to employees while acting as the company’s employee tracker. Through this, the management can keep an eye on every employee’s performance and success.
• Outline the plan to ensure that the right process is observed for developing and training people into leadership roles.
• Submit reports to keep upper management informed of each candidate’s progress. 

Conclusion

Identifying the next leaders, especially for senior positions, is a critical task in any business. All organizations, whether big or small, should prepare for this unavoidable scenario. HR departments should be equipped with the right process, flow, and skills to ensure excellent assessment and successful transition. 

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