Summary

More organisations are recognising the need to develop succession plans in order to ensure key positions are filled cost effectively, work responsibilities and outputs continue despite emergencies, vacations, and illnesses of key workers, and employees remain motivated. Where once such plans were considered to be focused upon leadership succession, particularly at CEO level, they are increasingly being used for all levels and all occupational groupings. Succession planning includes such activities as identifying future business needs and goals (and the resulting staffing implications of these), assessing staff competencies, identifying staff wanting to move within the organisation, creating training and development opportunities, and providing coaching and feedback. Implementing a successful succession plan requires commitment at an organisations highest level and the investment of time and resources, Companies that have successfully implemented such plans include Alcan Smelters and Chemicals Ltd, Dole Food Co. Inc. Prudential Financial, Wellpoint Health Networks and the American Red Cross.

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