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Business succession planning: The complete guide

Walk Me

Business succession planning (BSP) is the best way for HR to ensure they retain the institutional knowledge and experience they have worked hard to accumulate in a business. However, effective business succession planning can benefit the culture, operations and finances of any enterprise.

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How HR Can Create a Comprehensive Talent Strategy

AIHR

Therefore, being able to recruit, develop, engage and retain the right people at scale should be a top priority. And many businesses underestimate the cost of recruiting the wrong people. An attractive employer brand and EVP (employee value proposition) can help when recruiting external candidates.

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What Is a Talent Pipeline? 101 Guide To Building a Robust Talent Pipeline

AIHR

Once the roles and skill requirements are identified, you can proactively seek out potential candidates through social media recruitment, employee referrals, networking events, and partnerships with educational institutions to attract a diverse pool of qualified candidates. This ensures that they are better prepared to assume roles.

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What is HR Analytics? All You Need to Know to Get Started

AIHR

This has a significant impact on organizational performance , leading to as much as a 25% rise in business productivity, a 50% decrease in attrition rates, and an 80% increase in recruiting efficiency. Example: Exploring recruitment data to discover the key attributes of an ideal candidate for a particular position.)

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7 Headcount Analysis Mistakes HR Should Avoid

AIHR

But a common mistake companies make is attempting to scale policies used in the startup stage or with under 50 employees. You can then create a plan to upskill, reskill, invest in L&D, and conduct succession planning so that the organization is adequately prepared for the future.

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Director of People and Culture Job Description and Salary

AIHR

The Director of People and Culture leads various HR functions and responsibilities in large companies and corporations: recruitment and talent acquisition , compensation and benefits, training and development, performance management, and employee relations. The role is more administrative in nature.

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How To Create the Ultimate Exit Survey (Plus Questions & Free Template)

AIHR

Help with succession planning: Another goal of an employee exit survey is to highlight skills gaps. With this knowledge, employers can work to bridge these gaps and improve succession planning. It’s important to collect a mix of quantitative and qualitative data, where certain questions have a scale rating (e.g.,