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11 Succession Planning Best Practices to Follow in 2024

AIHR

Poor succession planning can be incredibly expensive. But with a rock-solid succession planning strategy, you can ensure a smooth transition of leadership, minimizing disruption and maintaining stability. Contents What is succession planning? 11 succession planning best practices to follow 1.

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Succession Planning: Essential Guide for HR

AIHR

Succession planning is essential to ensure critical roles in a company are not left vacant for extended periods or filled by people who don’t have the skills or knowledge to perform in the role. That means that over half of the organizations the surveyed HR professionals work at didn’t have a plan.

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Elevating Others Thought Leadership | Watchen Nyanue Hampton

Peter Winick

Watchen shows how elevating others in thought leadership and using your own power to share the spotlight can be good for retention, succession planning, and reaching wider audiences through wider conversations that you otherwise might never have been aware of. It makes a huge difference in retention.

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How to Create a Work Environment That Encourages Career Advancement

Zenefits

Improved employee retention Career progression is the number 1 reason for job hunting during the Great Resignation. HR can use the employee’s skills, education, experience, and other qualifications needed to reach each goal and develop a plan for achieving the employee’s ultimate goals.

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What Is Internal Recruitment? 7 Internal Recruitment Methods (+ Examples)

AIHR

What’s more, leveraging existing knowledge and experience within the organization makes good business sense because it promotes employee retention and morale by offering career advancement opportunities. Succession planning Example: Preparing an assistant manager to step into a managerial role.

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Succession Management: Part Of The Business Continuity Jigsaw Puzzle

Chief Executive

These principles encourage leaders to set strong principles, educate leaders on good decision-making, nurture honest dialogue, focus on the CEO’s top priorities, determine which roles drive value, growth, and risk, and understand the most competitive capabilities in the market. Best practices” are only those that work for your company.

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Talent Planning 101: The Ultimate Starter Guide (For 2023)

AIHR

Succession planning Succession planning is a strategy businesses use to pass down leadership roles to more junior staff members. For instance, if the head of marketing plans to retire next year, a new candidate must be identified and trained for the role. Otherwise, they’ll walk.