What are the benefits to an employer of having a succession planning process?

Author: Warren N. Rothman, Blue Prairie Group, LLC

The benefits to an employer are numerous, including the following:

  • Demonstrates senior management's commitment to invest in a planning and development process;
  • Ensures key staff have ample advancement and promotional opportunities;
  • Enables senior management (and the Board of Directors, if appropriate) to get to know its key people in greater depth;
  • Ensures leadership and management continuity;
  • Provides validated candidates ready to assume an open position and results in more timely fills;
  • Establishes a culture and talent brand focused on development and internal mobility;
  • Helps retain top performers; and
  • Reduces overall talent acquisition costs.