Pacifica Continental

The importance of succession planning

Companies from different industries face the great challenge of attracting and identifying qualified professionals for key positions. These critical positions within the organization make a huge contribution to the strategy and performance of the business and need to be properly filled.

With the emergence of new vacancies within a company, hiring talent needs to be carried out with agility and efficiency. In this way, succession planning, can serve as a strategic solution to facilitate and optimize this process.

Continue reading to learn what succession planning is, how important it is to an organization’s success, and how to implement it.

What is succession planning?

The departure of professionals from positions of great influence can affect the company’s performance and its results. Therefore, it is important to implement a strategy to be able to fill new vacancies quickly and effectively.

Succession planning works as a process to identify and develop employees capable of assuming key positions within the company. This plan serves to assist in the process of replacing managers or professionals in critical positions.

In addition, this tool is essential to keep the business resistant to organizational changes and to be able to meet the high demands of the market. For this reason, the main objective of a succession plan is to prepare and structure the company to fill new internal vacancies as soon as they arise.

The importance of succession planning

Succession planning is an effective strategy to ensure that the company has qualified and prepared talent to assume strategic positions and carry out their duties. With a well-defined organizational structure, the company is able to fill new vacancies more quickly and effectively.

In addition, this tool manages to avoid major financial losses and the loss of other resources that can be caused when replacing a professional. The lack of advance planning can harm the dynamics and productivity of the business.

Finally, it is important to emphasize how a well-structured succession plan can influence employee motivation and engagement. With the perspective of development and internal growth, these professionals begin to dedicate themselves more to their functions and, consequently, increase the company’s performance.

For this reason, it is possible to conclude that succession planning serves as a valuable action to maintain performance and attract good results for the organization.

How to develop a succession plan

Each succession planning is unique and depends on the structure, reality, and culture of the company. At the same time, implementing an effective succession plan requires some essential steps to ensure its effectiveness.

Identify business needs

First, it is important to analyze the organizational structure and identify the company’s strategic and risk positions. Some points to consider include: which employees have potential, which positions require more attention, and which people need development plans. By collecting this data, it is possible to better understand the current scenario to develop a more targeted and assertive strategy.

Evaluate performance data

In addition, effective planning depends on continuous data collection and analysis to understand the organization’s employees and roles. Among many, some ways to obtain this information are through performance evaluations, climate surveys, and feedback. This way, the company is able to identify qualified professionals for certain critical positions based on their results and skills.

Create a succession map

The development of a succession map allows the company to be able to align all stages and interrelationships to fill key positions and achieve the organization’s objectives. This map serves to identify ideal professionals for certain positions, determine the right moment for change, and anticipate possible challenges. Therefore, it is necessary to detail the activities and profile of each position, identify gaps, and align expectations with the team.

In conclusion, succession planning offers a strategic vision capable of promoting efficient management and providing greater predictability to changes in key positions within the company. Assertiveness in mapping is essential to help reduce costs and downtime, conduct effective transitions, and accelerate the team’s productivity and performance.

Pacifica Continental develops recruitment strategies, including creating succession plans, to map your company’s future and boost talent retention. Our customized approach manages to make your business resistant to time and its changes, increasing its growth and competitiveness in the market. Contact us to learn more about our solutions.

Written by Maria Eduarda Magalhães