Human Resource Management | HR Staffing | Succession management and career planning

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HR Staffing | Succession management and career planning

Many see the key to success in succession management as identifying and then developing the CEO successor. It’s not just grooming your next-generation leader that makes succession management a success though. There are two other critical elements to succession management:

Actively engaging the Board in the process and
Coaching the CEOs in transition to let go and embrace their “third acts” in life.
With four generations of men and women in the workforce and nearly 10,000 Baby Boomers reaching retirement age every day, succession management has never been more important!

Career Management

Career Management is the combination of structured planning and the active management choice of one’s own professional career.
The outcome of successful career management should include personal fulfillment, work/life balance, goal achievement and financial security.

The career planning process has four steps:

Step 1: knowing yourself
Step 2: finding out
Step 3: making decisions
Step 4: taking action

Step 1: knowing yourself

Begin by thinking about where you are now, where you want to be and how you’re going to get there.

Once you have thought about where you are at now and where you want to be, you can work on getting to know your skills, interests and values.

Begin by asking yourself the following questions:

Where am I at now?
Where do I want to be?
What do I want out of a job or career?
What do I like to do?
What are my strengths?
What is important to me?

At the end of this step you will have a clearer idea of your work or learning goal and your individual preferences. You can use this information about yourself as your personal ‘wish list’ against which you can compare all the information you gather in Step 2: finding out. Your personal preferences are very useful for helping you choose your best option at this point in time, which you can do in Step 3: making decisions.

Step 2: finding out

This step is about exploring the occupations and learning areas that interest you. Once you have some idea of your occupational preferences you can research the specific skills and qualifications required for those occupations.

Explore occupations that interest you and ask yourself how do my skills and interests match up with these occupations?
Where are the gaps?
What options do I have to gain these skills or qualify for these occupations?
What skills do I need?
Where is the work?

At the end of this step you will have a list of preferred occupations and/or learning options.

Step 3: making decisions

This step involves comparing your options, narrowing down your choices and thinking about what suits you best at this point in time.

Ask yourself:

What are my best work/training options?
How do they match with my skills, interests and values?
How do they fit with the current labour market?
How do they fit with my current situation and responsibilities?
What are the advantages and disadvantages of each option?
What will help and what will hinder me?
What can I do about it?

At the end of this step you will have narrowed down your options and have more of an idea of what you need to do next to help you achieve your goals.

Step 4: taking action

Here you plan the steps you need to take to put your plan into action.
Use all you have learnt about your skills, interests and values together with the information you have gathered about the world of work to create your plan.