Succession Planning

About 76 million baby boomers are set to retire by the end of the decade. That trend, combined with normal attrition rates and a tight labor market, means that it soon will be difficult to find an adequate number of qualified job candidates. Now is the time to implement a strategy for replacing these valuable, experienced employees. Succession planning establishes a process for recruiting employees, developing their skills, and preparing them for advancement, while retaining them to ensure a return on your training investment. Succession planning involves:

• Understanding your organization's long-term goals.
• Identifying your workforce's developmental needs.
• Making predictions based on workforce trends.

Our comprehensive approach enables you to create a process for:

• Identifying expected vacancies and determining critical positions.
• Defining current and future competencies for critical positions.
• Pinpointing gaps in current employee and candidate competencies.
• Facilitating leadership transition and development.
• Developing a succession management evaluation plan.

Benefits

Effective succession planning enables your company to:

• Maintain productivity while meeting customer demands.
• Ensure continuity of product and service quality.
• Avoid excess hiring and training costs.
• Improve your training ROI.