A couple weeks ago we started our tips series for HR Practitioners. One area that is constantly being called to question is, how can we provide a solid argument that Succession Planning must be considered as a business imperative?
Here are some arguments that you can use to build your business case:
- Business Continuity: What will happen if there is a resignation of the business owner/CEO or other key resources.
- Actively pursuing succession planning provides assurance that employees are constantly developed to fill each role identified as critical or key to the business thereby assuring business continuity.
- Succession Planning provides the assurance that you have resources on hand, ready and waiting to fill new roles that may be required.
- Allows the organisation to be flexible/dynamic for change should it expand, lose key employees.
- Through your succession planning process, you also stand a chance to retain your best employees because they appreciate the time, attention, and development that you are investing in them.
- Provides promotional opportunities.
We hope you find this helpful, look out for additional Industrial Relations commentary coming soon. Please contact us at firstname.lastname@example.org to find out more.