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Last updated on 2024年7月8日

How can succession planning boost employee retention and engagement?

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Succession planning is a strategic process of identifying and developing future leaders and key contributors in your organization. It can help you prepare for unexpected vacancies, reduce turnover costs, and foster a culture of learning and growth. But did you know that succession planning can also boost employee retention and engagement? Here are some ways how.

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1 Align goals and expectations

One of the benefits of succession planning is that it helps you communicate your vision and goals to your employees, and align them with their career aspirations and development needs. By setting clear and realistic expectations, you can motivate your employees to perform well, grow their skills, and pursue opportunities within your organization. You can also provide regular feedback, recognition, and support to help them achieve their goals and overcome challenges.

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John Moore ??

Providing IT Solutions to your IT problems | Efficient and Remarkable Recruiting | Read My Activity for Laughs & Learning | Senior Representative at TekBank
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Regular feedback, recognition, and support can also help employees feel valued and invested in the organization's success, leading to higher levels of engagement and retention. Overall, investing in succession planning not only helps the organization prepare for the future but also supports the growth and development of its employees.

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Sally Nabil

Compensation And Benefits Section Head/SAP key user at TAQA/Advanced HR diploma
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One of the benefits of succession planning is that it helps you communicate your vision and goals to your employees. By setting clear and realistic expectations, you can motivate your employees to perform well, grow their skills, and pursue opportunities within your organization. You can also provide regular feedback, recognition, and support to help them achieve their goals and overcome challenges.

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2 Create a talent pipeline

Another benefit of succession planning is that it helps you create a talent pipeline of high-potential and high-performing employees who are ready to take on new or expanded roles. By identifying and nurturing your talent, you can reduce the risk of losing them to competitors, and increase their loyalty and commitment to your organization. You can also save time and money by filling critical positions internally, rather than hiring externally.

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Miguel A. de Jesus

Founder and CEO @ Purpose & Action, LLC | Certified Professional Coach (CPC) and AI Strategist I Cialdini Institute Certified Coach I Fractional Chief Sales Officer I
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This process will help you attract, recruit, retain and develop in place future high potential candidates to your business and of course it also assumes that you have the require coaching skills within your exhibiting leadership to nurture and support future personal growth and development.

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John Moore ??

Providing IT Solutions to your IT problems | Efficient and Remarkable Recruiting | Read My Activity for Laughs & Learning | Senior Representative at TekBank
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As a recruiter, I completely agree with the benefits of creating a talent pipeline. It not only reduces the risk of losing employees to competitors but it also saves time and resources in the hiring process.

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3 Foster a learning culture

A third benefit of succession planning is that it helps you foster a learning culture in your organization, where employees are encouraged and empowered to acquire new knowledge, skills, and competencies. By providing your employees with learning opportunities, such as training, mentoring, coaching, or job rotation, you can enhance their professional development, satisfaction, and retention. You can also stimulate their creativity, innovation, and problem-solving abilities, which can benefit your organization's performance and reputation.

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Eya Barriga

Divisional Manager at LinkedVA
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Train. Upskill. Repeat. When we provide opportunities for skill development, training, and mentorship within the organisation, employees feel valued and invested in their growth. Moreover, when we encourage continuous learning, it not only prepares employees for future leadership roles but also demonstrates a commitment to their professional development and career advancement.

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4 Build trust and transparency

A fourth benefit of succession planning is that it helps you build trust and transparency with your employees, by involving them in the process and sharing relevant information. By soliciting their input, feedback, and preferences, you can show them that you value their opinions and contributions, and that you respect their career choices. By disclosing your succession criteria, process, and outcomes, you can show them that you are fair and consistent, and that you reward merit and potential.

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Juhee Goswami

Talent Delivery Manager @ Randstad
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Communicate openly with employees about succession planning objectives, processes, and opportunities for advancement. Provide regular feedback and guidance to employees on their development and career progression paths. Encourage employee involvement in the succession planning process, seeking input and feedback to ensure inclusivity and fairness. Recognize and reward employees who demonstrate potential and contribute to the organization's succession pipeline. Offer training and development opportunities to prepare employees for future leadership roles, demonstrating a commitment to their growth and advancement. Monitor and evaluate the effectiveness of succession planning efforts, making adjustments as needed to address any concerns.

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5 Enhance collaboration and diversity

A fifth benefit of succession planning is that it helps you enhance collaboration and diversity in your organization, by creating cross-functional and cross-cultural teams, and by promoting inclusion and equity. By exposing your employees to different perspectives, experiences, and backgrounds, you can broaden their horizons, enrich their learning, and foster mutual respect and understanding. By embracing diversity and inclusion, you can also improve your organization's culture, image, and performance.

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John Moore ??

Providing IT Solutions to your IT problems | Efficient and Remarkable Recruiting | Read My Activity for Laughs & Learning | Senior Representative at TekBank
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This is the power of diversity and inclusion in the workplace, and it is exactly what succession planning can help to grow. Creating cross-functional and cross-cultural teams, and promoting inclusion and equity, organizations can create a dynamic work environment that fosters creativity, cooperation, and growth.

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6 Strengthen your employer brand

A sixth benefit of succession planning is that it helps you strengthen your employer brand, by showcasing your commitment to your employees' development, growth, and success. By offering your employees a clear career path, a supportive environment, and a rewarding opportunity, you can attract and retain top talent, and enhance your reputation as an employer of choice. You can also leverage your employees' testimonials, referrals, and advocacy to promote your employer brand and attract more candidates.

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John Moore ??

Providing IT Solutions to your IT problems | Efficient and Remarkable Recruiting | Read My Activity for Laughs & Learning | Senior Representative at TekBank
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By prioritizing succession planning, companies can demonstrate their investment in the growth and development of their employees, which can help attract high-performing candidates. Additionally, by highlighting success stories and positive feedback from employees, companies can leverage their employer brand to attract even more talented individuals who are seeking an organization that values their professional development.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can succession planning boost employee retention and engagement?

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1 Align goals and expectations

2 Create a talent pipeline

3 Foster a learning culture

4 Build trust and transparency

5 Enhance collaboration and diversity

6 Strengthen your employer brand

7 Here’s what else to consider

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