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    HCM - Succession Planning

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    Mark Fisher
    Succession planning allows companies to assess current employees' potential, identify talent needed for the future, and develop those employees. It has short-term benefits like identifying hidden talent and assessing turnover risk. Long-term, it improves employee performance and prepares the company for future management needs. While it requires investment, succession planning can save money by limiting external hiring and recruitment costs. Both companies and employees can benefit, as it offers employees career development opportunities and incentives to contribute to the company's success over time.

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    HCM - Succession Planning

    Uploaded by

    Mark Fisher
    30 views9 pages
    Succession planning allows companies to assess current employees' potential, identify talent needed for the future, and develop those employees. It has short-term benefits like identifying hidden talent and assessing turnover risk. Long-term, it improves employee performance and prepares the company for future management needs. While it requires investment, succession planning can save money by limiting external hiring and recruitment costs. Both companies and employees can benefit, as it offers employees career development opportunities and incentives to contribute to the company's success over time.

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    PPT on how to use HRM planning software

    Original Title

    HCM- Succession Planning

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    Succession planning allows companies to assess current employees' potential, identify talent needed for the future, and develop those employees. It has short-term benefits like identifying hidden talent and assessing turnover risk. Long-term, it improves employee performance and prepares the company for future management needs. While it requires investment, succession planning can save money by limiting external hiring and recruitment costs. Both companies and employees can benefit, as it offers employees career development opportunities and incentives to contribute to the company's success over time.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    30 views9 pages

    HCM - Succession Planning

    Uploaded by

    Mark Fisher
    Succession planning allows companies to assess current employees' potential, identify talent needed for the future, and develop those employees. It has short-term benefits like identifying hidden talent and assessing turnover risk. Long-term, it improves employee performance and prepares the company for future management needs. While it requires investment, succession planning can save money by limiting external hiring and recruitment costs. Both companies and employees can benefit, as it offers employees career development opportunities and incentives to contribute to the company's success over time.

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    Succession Planning

    Sydney Proulx
    What is Succession Planning

     Succession planning is the process assessing


    your current employee potential
     The goal is to be able to identify, develop
    and then train the talent that is needed for
    the future of the company (SAP
    SuccessFactors)

    The purpose is to prepare the company for future endeavors


    and to ensure staff and skills that may be needed are present
    What is the benefit to the company to
    spend money to purchase and time to
    train on the module?
    The short-term benefits for the company are,
     Allows assessment of potential hidden talent inside the company
     Identify current top and bottom performers
     See current depth
     Asses risk for turnover
    The long-term benefits for the company are,
     Allows for development of skills and overall better employee performance
     Prepare for future management
     Limit External recruitment
    (SAP SuccessFactors)
    Will having this module save money or
    are there other benefits?
     This will allow the company to save
    money by using internal workforce to its
    full potential
     Also allow for company to limit having to
    bring in more external candite's, and
    therefor saves money on recruitment and
    new employee training
    What is the benefit to the employee? Why would your
    employee’s want you to invest in it, what’s in it for
    them?
     Allows employee to fully explore future career paths (SAP SuccessFactors)
     Allows employee to access there own skill level and dexterity
     Allows them to explore roles they may fit
     Allows them to develop in all levels

    This Photo by Unknown Author is licensed under CC BY-SA-NC


    What are the negatives to the
    company/employee of implementing
    this component?
     Employee may not fit future roles and feel left out or
    under appreciated (Richards, 2017)
     May not encourage all employees to develop
     Appointing the worn person can lead to many issues with
    company performance
    What interrelationships do this module
    have with other modules?

     The decision made through Succession planning have a


    direct effect on the future performance and goals for
    the company

     Has an affect on recruiting because of its focus on


    internal development
    Your recommendation: Should the company invest
    the money and time to implement the solution.

     I think that the company should invest the


    money and time to impalement succession
    planning because it will allow them to gain an
    understanding of their current workforce and
    how they can use their employees for future
    management needs. It allows for all
    employees to develop and can give them
    incentive to continue to work hard in their
    roles. This will overall prepare the company
    for its needs as it continues to grow and
    succeed.
    References

    SAP SuccessFactors Talent Management, SAP Product Brochure (n.d.). Retrieved


    from
    https://www.sap.com/documents/2018/11/d256f487-287d-0010-87a3-c30de2ffd
    8ff.html

    Richards, L. (2017, November 21). Strengths & Weaknesses of Succession


    Planning for Organizations. Retrieved from
    https://smallbusiness.chron.com/strengths-weaknesses-succession-planning-
    organizations-4592.html

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