5 Questions to Ask to Kick Start Your Succession Plan

5 Questions to Ask to Kick Start Your Succession Plan

This year, we?re celebrating five years of Peopleconnexion PNG.

In these five years, we’ve watched teams and organisations flourish even through the toughest of business climates.

There’s one thing they all seem to have in common: the right people, in the right roles, at the right time.

It sounds so simple, but is challenging to execute. This is what we see every day in recruitment.

In our experience, one of the best ways that organisations can be proactive about assessing and developing their ?bench strength? is through succession planning.

According to last year’s McKinsey-led research for Talent Wins, two-thirds of companies had no succession plans in place. What do you think the rate is in PNG?

As more and more organisations look to build their local capability and move PNG citizens into the C-suite, the reality is that now is the perfect time to start (or revisit) a succession plan.

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The good news is that it’s never too late to launch a plan, and it starts with just a few simple questions to get the ball rolling:

  1. How can you make succession planning a habit, not a lengthy exercise – what if you started reviewing your talent pipeline as regularly as your financials?
  2. What can you do to change the conversation and attitudes around succession planning from one that is focused on ?replacement? to retention, development and future-proofing?
  3.  Does your HR team have a seat at the strategic decision-making table, and what do you need to do to get them there?
  4.  Think about your organisation’s five-year plan ? what are the skillsets you are going to need?
  5.  Could you develop these skills internally now, or do you need to hire externally for the express purpose of building that skillset?

From our salary survey last year, we found that the number one reason candidates were changing jobs was a lack of career development in their current role. In our Coaching & Mentoring workshops, we’ve seen the difference that investments in structured learning and development programs can have on a company.

In this respect, succession planning is not only a great tool for organisations to retain and train talent, it’s fantastic for ?hiring talent. Candidates will go (and often, stay) where they know they have access to opportunities and chances to move up in the organisation.

To speak about identifying talent for your organisation’s succession plan, please contact me via stephen@peopleconnexion.com


Peopleconnexion PNG: Recruitment, Training, Payroll & HR Services

 

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