Succession planning is a crucial process that is worth looking into. This is particularly so where people is considered to be “human capital” to an organization. Succession plans normally cover both short- and longer-term successors for key jobs, and development plans for these successors. It is therefore not a one time process which therefore should form part of the human resources strategy for the medium to long term planning process.

By having succession planning the firm will have one or more “successors” identified for key jobs, and career moves and/or employee development activities are planned for these successors. Successors may be fairly ready to do the job (short-term successors) or seen as having longer-term potential (long-term successors).

With succession planning, the firm can attain the following objectives/advantages/ edge above their competitors:

• Encouraging a culture of “progression” through developing employees who are seen as a ‘business resource’ and who share key skills, experiences and values seen as important to the future of the business. By doing so, the firm is actively developing a strong “talent pool” for the future;

• Improved job filling for key positions through broader candidate search, and faster decision-making

• Active development of longer-term successors through ensuring their careers progress, and by making sure they get the range of work experiences they need for the future and

• Able to attract and retain the ‘best’ people especially in service businesses like the accountancy and legal professions).

Some suggested ways to embark on succession planning:

• Identifying possible successors[where there is a number of jobs are of similar type and need similar skills, we then need to identify a “pool” of successors]

• Challenging and reviewing succession plans through discussion of people and posts

• Agreeing job (or job group) successors and development plans for individuals

• Analysis of the gaps or surpluses revealed by the planning process

• Review, ie checking the actual pattern of job filling and whether planned individual development has taken place.

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