People are the heart of every organisation. The employees who commit to a shared vision push a company to better serve its clients and succeed. But life happens, and time progresses. People move and retire. They seek a sea change or career change. They pack-up, say their goodbyes, and leave.
Succession is inevitable, and it’s how an organisation copes with the movement of talent that defines its future. Success doesn’t happen by chance; conscious effort, planning, and preparation are crucial to ensuring the next generation of workers thrives. That’s where SuccessFactors Succession and Development comes into play.
What Is Succession Planning?
Before you investigate SuccessFactors’ career development planning capabilities in greater detail, here’s a staggering statistic to give you some perspective: 58 per cent of managers have never undergone management training.
Remarkably, many management employees find themselves in leadership positions by chance. It’s a case of being in the right place at the right time as their organisation scrambles to reshuffle after a staffing surprise.
But in today’s competitive business landscape, thoughtful job design, dynamic internal development opportunities, and intelligent organisational structure are fundamental to fostering an agile workplace that engages employees and promotes retention. These best practices lend themselves to the principle of succession planning: the activity of identifying potential successors for key positions and nurturing their skill set in preparation for increased responsibility.
Systematic employee development – which encompasses challenging job assignments, professional development sessions, and other enriching activities – overlaps with what’s known as leadership development. The goal is to mitigate the risk irreplaceable employees pose by equipping future leaders with the first-hand experience, nuanced understanding, and self-confidence they need to excel.
Nurture Next-Gen Leaders with SuccessFactors Succession Management
Intention is one thing. Achievement is another. Executive and HR managers dedicate the majority of their resources to day-to-day operations and strategic growth mapping. Succession planning is often left off the agenda.
SAP Succession Planning takes the hard work out of future-proofing an organisation. The comprehensive system minimises risk by accurately pinpointing top performers and providing a framework for employee development. The results are two-fold: nurture the talent needed to achieve today’s goals while gaining the insight and planning capabilities required to sustain tomorrow’s growth.
With the right succession planning tools, you can develop the right people and fit them into the right roles.
Here are three of the chief benefits of SuccessFactors Career Development Planning:
1. Cultivate an Engaged Talent Pipeline for Future Growth
SuccessFactors Succession Planning gives you the visibility needed to precisely evaluate employee competency and identify unsuspecting talent via firm-wide searches. With your best (and worst) performers firmly recognised, you can analyse the risk and potential impact of staff loss. From there, you can formulate an evidence-backed succession planning roadmap that mitigates this risk, boosts engagement, and feeds into future growth.
2. Empower Employees to Develop Their Skill Set
A continuous improvement mindset helps high-performing team members stand out and advance their career. Give your staff the tools they need to take charge of their professional development and progress on their journey toward professional fulfilment.
SuccessFactors Succession and Development empowers executives and employees by achieving the following:
- Open dialogue that provides staff with feedback on a regular basis for improved awareness and self-reflection
- Accelerated high-impact development and learning programs that combine best-in-class mentoring and leadership plans
- Access to resources that encourage proactive exploration of career trajectories, required skills, and organisational gaps
Employers can leverage employee activity to explore automated ‘good fit’ recommendations to uncover individuals whose skills and interests align with role opportunities. This leads to a more efficient, more productive organisational structure.
3. Achieve Superior Business Outcomes
Ultimately, a business’s success relies on the competence of its employees. By preparing your organisation to adapt seamlessly to talent movements, you safeguard operations against disruption and mismanagement.
SAP Succession Planning goes one step further. You can connect employee development initiatives with strategic business goals, funnelling your efforts toward the organisation’s North Star. You can identify and close talent gaps, create informed recruiting plans, and recognise optimisation opportunities.
Crucially, SuccessFactors Succession Management allows you to measure the results of your succession strategy. From there, you can tweak your approach to enrich employee experiences further and better deliver on key performance metrics.
Safeguard Your Corporate Organisation’s Future
It’s a cliché that bears repeating: fail to prepare and prepare to fail. Just as your organisation’s current success depends on your staff today, future growth relies on future employees.
Succession planning gives your company the flexibility it needs to adapt and transition in the face of surprise or scheduled talent movements. Moreover, engaging and developing your employees enhances retention and workplace satisfaction, further propelling your organisation toward industry leadership.
Get started with SuccessFactors Succession and Development and lock-in your future success. Contact the Discovery Consulting team today for personalised advice.
