Engage Employees with Career Development & Succession Planning
Get the skills you need. Keep the staff you want.
- Scope: Successfully tackling staffing contingencies relies on investment in long-term career planning and succession development practice.
- Challenge: Building a steady and reliable staffing contingent is becoming more and more difficult. Unexpected staff departures, combined with belt tightening, retiring Baby Boomers, and the changing work expectations of Generation Y, have created more obstacles to attracting, retaining, and developing talent than ever before.
- Pain/Risk: While having the perfect skill set available at the perfect time may be too idealistic, succession planning can mitigate the opportunity and productivity risks associated with talent gaps.
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Our Advice
Critical Insight
- Succession plans need to be in place up and down the entire chain of command, not just for management roles. In some organizations, the loss of a non-management staffer can have a greater immediate negative impact than the loss of a department head.
- Replacing an employee costs 50% to 200% of that person’s annual salary. Succession development can cut this to 5-10%.
- Don’t prepare just one individual to take over a single role – instead, prepare broader pools of talent that can be dynamically drawn upon as needed.
- Unlike other processes, succession planning does not benefit from economies of scale since it is about matching individual personal aspirations to business needs. As a department grows, this tailored matching process becomes more complex to manage. The amount of time you hope to invest in order to achieve the benefits must be a major consideration.
Impact and Result
- Gain insight into the key steps for succession planning.
- Measure your organizational need and preparedness for succession planning.
- Assess the greatest points of risk in your staffing contingent.
- Pinpoint who has the potential to fulfill certain roles and each individual’s ability to advance.
- Map required and completed training activities towards achieving promotion objectives.
- Measure the overall effectiveness of your succession planning practice.
About McLean & Company
McLean & Company is an HR research and advisory firm providing practical solutions to human resources challenges via executable research, tools, diagnostics, and advisory services that have a clear and measurable impact on your business.
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Unlock Sample ResearchContributors
Approximately 160 organizations contributed information to assist with the development of this solution set. Due to the sensitivity of the information, all contributors requested confidentiality.