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Succession planning is the process of determining and developing internal staff members of a company with the motive to fill key leadership positions of the organisation and in turn act as a development tool for the business (Junghans and et. at., 2005). The process of succession planning is beneficial for the overall growth and development of the workforce, directly leading to favorable outcomes for the organization. These outcomes include developing potential successors for key positions that are present within the workplace (Kimmel, 2009). On the other hand, the concept of career management is also effective whereby each organisation applies larger efforts in order to work for the development of career of HR professionals and employees. Also, succession planning facilitates to maximize availability of experienced and capable workforce so as to bring improvement in the personality of individual. Furthermore, career management ensure lifelong learning amongst the workforce which helps them to achieve organizational objectives in the given time frame (Fujioka and et. al., 2006). (Bloom, 2004).
The main purpose of this current essay is to elaborate the importance of succession planning and career development in an organization. This will cover the overall aspect of corporation for ensuring personnel management by introducing best practices at workplace. It enables corporation to ensure continuous learning among employees and fill the higher position with experience employees of organization (Innocenti, Profili and Sammarra, 2013). Similarly, career development programs are explained which helps in resourcing and better management of employees in the organization (Mellor and Webster, 2013).
It can be argued that succession planning and career management practices are directly related to HR professionals under which the company prepare itself to face challenges in future time span with inclusion of future leader. This facilitates to manage the workforce effectively and provide right direction to organization. Bell (2012) states that the concept of succession planning is linked with ensuring the right people are chosen for the right jobs. It serves as the most effective sources of recruitment for higher position of an organization.
Not only this but use of succession planning company can effectively utilize existing as well as experienced employees for higher position. This is because it reduced need to approach external sources to a great extent (Edenborough, 2007). Here, career management serve as the part of succession planning under which workforce go through continuous learning and on the job training. These two aspects work together so that the well-being of the corporation as well as employees can be determined. However, it might create non-monetary cost for the company by taking a long time in succession planning (Belout and Gauvreau, 2004). moreover, it can be said that succession planning cannot be done without human resources. Thus human resources plays a vital role in the succession planning
Further, it is also argued that in case, if wrong person is appointed to the higher position than company can loose its image and thus, the profitability of the firm will get decline (Chansler and Swamidass, 2010). In a similar aspect, if succession and career planning is conducted in a poor manner than performance of the company can go down (Briscoe and Schuler, 2004). It can be concluded that in-spite of having few limitations, succession and career planning in context of resourcing is considered to be a best internal recruitment source (Berman and et. al., 2012).
Further, it incorporates a wide range of human resource management functions, such as performance management, training and development, recruitment etc (Lewis and Heckman, 2006). According to Hassan (2007) career development programs which cater to the professional needs of employees’ and their career growth serve as a good motivation, it also increases the levels of satisfaction and improves their performance in the workplace (Chand and Katou, 2007). It will also retain its staff, which enhances overall organizational performance (Hassan, 2007). This requires corrective actions to be taken so that the company can work in favor of its employees, including HR professionals (Cassidy-Rice, 2014). However, Khan and Sheikh (2012) argued that the main responsibility of HR professionals is to hire staff members, coordinate promotions and reassignments, manage employee relations and administer pay along with benefits (Cassidy-Rice, 2014).
Apart from this, talent management is regarded as the organizational key to success, through retaining the skilled workforce it is possible for business enterprises to work for the betterment of its staff members and this enhances their satisfaction level (Chansler and Swamidass, 2010). Further, succession planning has many advantages which every business considers, as they support in determining successors’ leadership needs, assist in the development of strategic HR leadership plans and supports in building relationships (Cohen, 2003). These advantages of succession planning explain the importance of it in making full utilization of an organization's human capital in an appropriate manner, as well as determining the effective ways through which career development plans can be carried out, to develop the HR professionals who play a significant role in the company. This way, businesses can easily meet the expectations of their target markets (Gomez-Mejia, Balkin and Cardy, 2004).
There are different models of succession planning in order to handle succession planning scenarios such as, planned transition and deterioration in confidence as well as continuous process of corporation to fill the higher position in future by filling appropriate candidate internally. At this juncture, three practices such as benchmark, looking to future and keep it dynamic (Schuler and Jackson, 2008). The first practice is benchmark under which hr professionals continuously work on risk management process. It facilitates to gather detail information related to those who are performing well and have the potential to fill higher vacant position. Such kind of decisions are taken in consent of board members so as to ensure inclusion of appropriate person on higher position like CEO or HR manager (Chansler and Swamidass, 2010). Furthermore, model or practice of benchmark proves to be effective in preparing in-depth profile of potential leader. Here, employers need to set appropriate benchmark as per the requirement of corporation along with setting standards with regard to organizational culture. This assists corporation to avoid uncertainty as there remain a competent personnel to fill the vacant position in organization in future time span (Cohen, 2003).
The second model or practice is of look to the future under which board as well as HR professionals look for best leader including competitive organizations. This process takes extensive time so as to fulfill future growth and vision (Fujioka and et. al., 2006). In addition to this, third approach is keep it dynamic under which hr professionals contentiously change their succession plan in accordance with risk profile, leadership knowledge. This continuous updation in plan facilitates to carry out job effectively in order achieve long as well as short term objectives. At this juncture, it is very important for employers to assess uncertainty which could take place in future time span (Hassan, 2007). At last, as per the opinion looking to the future is the most effective model of succession planning so that management can prepare list of potential candidates who can acquire higher position in the marketplace. It will attract employees and will create positive work environment (Junghans and et. al., 2005). (Lewis and Heckman, 2006).
In order to implement practices of succession planning, business enterprises follow series of steps which start with HR planning, to determine the skills they require and predict how many staff members are leaving the company for unavoidable reasons, such as retirement (Armstrong, 2006), as members of the business may leave unexpectedly due to retirement, death or any other circumstances. Next stage is associated with determining the need of leaders for higher position and developing list of candidates who possess enough qualities to fill the vacancies. In this stage qualities as well as skills of every staff member is considered. However, information related to potential will be gathered through recent job analysis, abilities and career interests of particular leader. It will help to determine individual growth through promotion, transfer or providing more challenging job as well as job security (Buxman and Wehrenberg, 2012). This stage is regarded to be the most important where the actual development of the professionals working in the company takes place. Next stage is developing managers, through activities such as job rotation, education, international assignments, training and development of HR professionals linked with their performance etc. In the next stage, identification of the career path takes place; Hr professionals and board memebers make effective plans so that the level of skills and knowledge of professionals can be enhanced easily. These are some of the key stages considered in succession planning by which company and HR professionals can easily get suitable person on vacant position (Chansler and Swamidass, 2010).
Working as a HR professional in an organisation, I have acquired different types of knowledge which have supported me in my career development. In this regard, I know that it is very important for all corporations to take initiative related to succession planing and career development. However, career development is more imperative aspect in order to keep workforce updated with current requirement. I have worked for organisations as HR professional where my main area of responsibility involves hiring workforce and determining their actual needs. My previous employer has strongly implemented the concept of succession planning through which my career goals have been accomplished easily and in an effective manner. This helped me achieve my main target, which is to enhance the level of my HR skills, so that I can perform better in the field of HR. So, my personal goals have been accomplished through the training and development sessions organized by the firm, they have supported me to learn new things. Apart from this, I have been provided appropriate growth opportunities within the workplace such as promotions, which enhanced my confidence, as well as satisfaction level.
There are three approaches of succession planning such as; choosing internal candidates and recruitment of a new candidate externally. These approaches play an important role in selecting the right person for the vacant position in the company. Selecting an internal candidate for a vacant position saves cost and time (Career Development: Skill Development, 2015). This is because if an organisation selects an internal candidate, that particular candidate will not take much of the management’s time to understand policies, culture and environment of the organisation. On the other hand, external recruitment to fill high positions requires the company to devote extensive time and other related resources in preparing the new employees (Matsumura and Shin, 2005). Where I used to work, I filled the position of a business associate; later on, management provided me a non-monetary reward in the form of a promotion. However, my succession planning started long before that, when I was assigned to provide daily guidance to another person (HR Planning, 2015). At that time, my succession planning has begun. During that tenure I faced many problems related to time management and knowledge because I had to manage my work as well as the person whose responsibility was given to me.
Therefore, I believe career development is another aspect wherein employees are provided a chance to develop their overall personality. Therefore, organisations should provide several kinds of learning opportunities for the continuous development of employees (Bell, 2012). Also, employees must use their spare time wisely to access other sources of information, to enhance their learning. Furthermore, I expect that every corporation should support their workforce by providing regular training and assessing their performance on the basis of communicated criteria.
After adopting the approaches of choosing internal candidates or external recruitment the employer can have positive impact on the company. For this purpose, employer have to effectively choose any of the approaches so that it put a positive impact on the current and potential employees. Moreover, if the employer use the integration of both the approaches than it will more better impact on the potential/current employees. This will attract a pool of talented employees and manager will have several alternatives to choose from. Further, the existing employees will get motivated and thus performance can be enhanced likewise.
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