A company’s human resources department plays a vital role in the succession planning process. While not necessarily responsible for the initiation or creation of the succession plan, HR is ultimately responsible for much of its implementation.
Working closely with upper management, here are seven key roles HR should play in the succession planning process:
- Hiring high-quality individuals for all positions to maintain a deep bench of potential succession candidates for the organization.
- Developing quality evaluation programs that provide timely and meaningful feedback to employees as well as a means for the company to track employees’ history and success within the organization.
- Being the catalyst in making sure evaluations are delivered by the appropriate supervisors in a timely and professional manner, with a focus on areas to grow and improve performance.
- Assisting in the maturation of succession candidates by helping to plan individualized management training programs that will provide a well-rounded, tailored approach to skill development.
- Evaluating and recommending appropriate compensation for fast track performers to make sure they are being properly rewarded for their performance.
- Reviewing and developing employee retention programs to ensure the best and brightest are retained by the organization.
- Developing reporting mechanisms to apprise upper management and the board of individual candidates’ progress.
The succession plan is ultimately the responsibility of senior management and the board of directors, who need to invest time and effort to ensure its significance is understood within the organization. However, the HR department is critically important in driving the plan’s implementation.
Contact us at 215.441.4600 or Email if you have questions or would like to discuss how this topic may impact your business.
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