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What is Available to Help Develop a Succession Plan?

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If you, as a corporate executive or HR representative, are unsure of how to begin the succession planning process, a good start would be to hire a corporate coach with experience in succession planning. Succession management specialists within the company can promote and maintain the process once it is in place and operational.

Once long-term corporate goals have been defined, the next step is to identify, hire, and train well-qualified people for key positions in every department. Learning management systems are available through a variety of sources, that can be implemented internally, or through a corporate coach. A corporate coach can lead your company through the maze of learning systems that are available to assist you in choosing which system is right for you.

University-based training is another method of promoting continuing education among employees. Often, a company can benefit from increased knowledge and productivity of a better trained employee by offering assistance in paying for college level courses or by offering a few hours a week of leave time to allow the employee to attend classes at the local university.

Many assessment tools are available, which can be developed from within or purchased from an outside company. For succession planning, most companies use a nine-box matrix to identify leadership potential and performance of managers and those in leadership positions. The nine-box matrix assists in assessing employees on the basis of job performance, personal and corporate values, and the employee�s perceived potential. A quality like

�learning agility�

may prove more valuable to the company then a manager who seems to be performing well in their current duties.

Next Page: How Do I Assess the Success of My Company�s Succession Plan?

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