Basic Succession Planning & Engagement

mentioned in previous blog entries,

succession planning has become more of a priority for smaller companies. In the past, these companies were often cognizant about the need to back-fill

executive positions, but would not really think too much more beyond

that. Many now have much more of an appreciation for the

heavy lifting that the lower levels

do for an organization and the importance to also keep those employees engaged.

Succession planning should not be as laborious as the job might seem.

I have spoken to many companies who cannot afford complex human resource programs, but have had success using simple succession strategies.

Here is a basic approach:

1. Look at the current state of the team. After conducting a SWAT analysis of the business and the company's position within the industry, look at skill gaps vs. the areas identified as opportunities.

Then after assessing what is believed to be required for the business to be successful in the future, asses the skill gaps vs. the current employee base,

what the company will need going forward, as well as the obvious one which where there are skill gaps in the current business.

2. Then decide on what needs to be done in order to retain top talent within the organization.

It is usually a much less expensive exercise then one might think.

Engagement can be increased with more career opportunity paths or more potential for work/life balance.

It doesn’t have to be focused on cash compensation.

For instance, I know one company that has a condominium in Ontario’s ski country where employees can sign it out for a weekend. It is a minimal cost for the company to maintain this reward but the perceived value by many of the employee base is quite high.

3. Ensure that your company is open to new career paths. We have seen this change in marketing the last few years and it has also started in more supply chain areas as well. Think of other ways to peel the apple in order to achieve the desired results, stay ahead of the curve and be able to offer learning and development for your employees.

Also, make sure that you share your vision of the business with employees as well. They are much more likely to become engaged if they believe that the company is willing to adapt or is thinking about how to adapt, as oppose to the employees being instructed to adapt once a decision has been made.

Make them a part of the process when possible.

4. Invest in training and well-ness programs. Every client who I have worked with has found that the cost of these programs is always much less than they expected as the ROI is much better than they expected.

Items such as reductions in short term disability and turnover, and increases in engagement and productivity are often bonuses that the company had not taken into consideration.

Farewell,

Mike

Recruiting BusinessMike KingJune 16, 2017Toronto Headhunter, Recruiter, Headhunters, Recruitment FirmComment