Succession planning

It is important for organizations to have a succession planning process in place so that leaders and key positions can be effectively filled when current employees leave. The systematic identification, development and placement of internal or external candidates ensures that qualified individuals are ready to take over key positions.

Why succession planning is important

It is crucial to ensure continuity in a company that succession planning is carried out. If companies identify and develop potential successors in good time, they can ensure that key positions are not left vacant and that business operations continue smoothly. Good succession planning also helps to increase employee motivation and retention, as employees realize that their career advancement is supported within the company. The importance of succession planning is increasing in the EU and Switzerland due to demographic changes and skills shortages. It is important for companies to prepare to compensate for the loss of key personnel and maintain their long-term competitiveness.

Succession planning steps

Several important steps are involved in succession planning, such as identifying key positions, evaluating the skills and potential of current employees, developing potential successors and creating and regularly adapting succession plans. Companies need to be flexible and responsive to change to ensure that succession planning remains effective.

Internal vs. external succession

When it comes to succession planning, companies can choose between developing internal candidates from within their own ranks and recruiting external candidates. Through internal succession, employees have already proven their skills in the company and know it well, which is an advantage. Careful induction and integration into the corporate culture are necessary in order to bring a breath of fresh air and new perspectives into the company when external succession takes place.

Successful succession planning - best practices

For succession planning to be successful, companies should establish clear selection criteria for their successors, conduct regular talent assessments, offer tailored development programs and promote communication and transparency. In addition, a long-term approach to succession planning should be adopted. By taking a strategic view and continuously optimizing succession planning, companies can ensure that they are prepared for future challenges.