Many organizations have informal guidelines for succession planning; however, few have a comprehensive and long-term approach. The lack of an organized, strategy leaves many qualified individuals unable to obtain the training and skills they need to move up in the organization and also does not make clear who in the organization is in charge of developing the next generation. Given that the Baby Boomer generation will represent 48% of the population by 2018, and a significant number of retirements will come soon after, now is the time for your organization to develop a formal succession plan.
This course will explore the steps and strategies for creating an effective succession plan, explain why many formal and informal plans fail to produce the desired results, and review the pitfalls and roadblocks that can sabotage any employee development process. Participants will also learn the difference between a succession plan and a professional development plan, how to select the best employees (both new and experienced) to participate in these programs, the importance of developing formal mentoring and evaluation components, and explain the best strategies for developing employees.