What metrics can be used to determine the effectiveness of succession planning?
Author: Warren N. Rothman, Blue Prairie Group, LLC
The metrics used to track succession planning effectiveness should directly tie back to the goals established for the process by the employer. Employers can track some or all of the following for job categories within the scope of the succession planning process:
- Overall turnover rates;
- Retention of key talent (succession candidates);
- Percent (%) of open positions filled from within by succession candidates vs. percent (%) filled from outside;
- Time to fill open positions; and
- Overall recruiting costs.
In addition, an employer can measure, over time, changes in employee satisfaction levels, morale and engagement with the organization, typically through some type of survey.