The alternative strategy

It is common knowledge that during the recession, employees have felt lucky to have jobs at all, so have stayed in place. It is also common knowledge that economic upturns provide more opportunities for employment. What will those people who have been “stuck” do? They’ll look for opportunities that their current organization has not given them. Voluntary turnover will rise.It is also common knowledge that the workforce is baby-boomer-intensive. Those employees may not be looking at retirement quite as early as normal because of the recession, but they will be retiring soon, and economic recovery may make that decision more imminent. Both of these factors will create far higher than standard departures of expertise, and in the near future.What are organizations waiting Succession planning is inarguably a good idea. The alternative strategy is “keep your fingers crossed that someone talented pops up.”Let’s de-mystify the concept. Succession planning is simply a process to identify and develop qualified, talented and eager candidates in order to prevent competency shortages. It encompasses formal and informal leadership, as well as subject matter expertise. The following three steps provide the basics of a solid succession plan. 마사지

David Pease, Senior Vice President and Chief Resource Officer, Androscoggin Bank, voted one of “Maine’s Best Places to Work” multiple times.”Does anyone here think succession planning is not necessary?” I asked a room full of business leaders. No hands. Good, they’re believers. “Who here has succession plans in place in their organization?” No hands. In fact, people looked around at the lack of hands, and giggled. Not so good, they’re believers in succession planning who don’t do anything about it. June Juliano, David Pease and I were presenting a conference seminar on the topic. We clearly had our work cut out in our call to action.We’re all familiar with the long-standing practice of executive succession planning. For example, David’s organization, Androscoggin Bank, has just smoothly chosen a new CEO, thanks to a succession plan put in place four years before. But are executives the only people we need to plan to replace?Why must organizations have such plans throughout its roles, particularly today? You never know when highly experienced people will leave organizations for a variety of reasons. Irreplaceable is bad business strategy. Can any organization afford to have unfilled gaps in its capacity or intellectual capital? Let’s look at just two major factors: economic recovery and the aging workforce.

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