6 myths planning ... Debunked

Recently, and raised the issue of succession planning much anxiety. However, it seems that few organizations heed this warning. According to the Human Resource Planning and the Association of Hewitt Associates study, less than 60% of companies have a succession plan in place.
The following are some of the most common myths about succession planning.

Myth # 1: If there were no cases of imminent retirement, succession planning should not be a priority.

According to a survey conducted by the capital H, nearly 22 percent of respondents expect to lose between 10 and 25 percent of the high performance retired over the next five years. These performers play an important role in the success of the company, often using high-level supervisory roles. Succession to progress smoothly, and the people elected to fill these roles must be prepared and properly trained. This process takes time.

Myth # 2: Succession planning is a matter of big business.

85 to 95 percent of all businesses in the United States today - more than 10 million people - are family owned or controlled by the family. Small businesses, and there is a greater sense of the impact of replacement employees. This is especially true for any employee in the estate sales or operations leadership, and poor in a month or two can mean disaster for a small business. Small businesses must plan ahead and invest in training to help the new employee's success or promotion. For small businesses, which could mean looking outside learning opportunities and the allocation of the budget to cover them.

Myth # 3: there should be a succession plan only to members of the Panel level C.

During the recent recession, and often ask employees to develop their list of responsibilities. Economic Policy Institute reports that in employee productivity increased by 4.1% each year. The request of the Director and Director level professionals to take fresher than ever. As such, it is important to look at a slice of departments to ensure that succession plans are in place for each division.

Myth # 4: You must deal with succession planning, on the basis of each individual case.

Continuity works best. Allowing each department to achieve a unique process of planning, effort can be boring and a waste of time. Organizations, instead, create a process across the enterprise, which can then be used by each section separately.

Myth # 5: good talent is easy to spot.

As an employee moves up the ladder of business, soft skills become more necessary and valuable elements of success - management skills, and emotional intelligence, leadership ability, and so on . However, it may be skills are difficult to quantify. Agricultural workers with these skills immediately, an organization needs a tool to measure and evaluate the talent of help. According to a recent report from Pepperdine Graziadio School of Business and Management, and organizations such as the following Dell Dow has long been used in the evaluation of talents process of succession planning.

Myth # 6: Succession planning is concerned that the baby boomers.

According to SHRM and CareerJournal.com 2005 employment recovery in the United States and retention area, 76% of employees are looking for a new job. That means better performance and can leave sooner than you can imagine. As such, it is important to think about succession planning - not in an effort to once - but as a continuous process in the growth and development of the institution.