Common Sense Talent Management: Using Strategic Human Resources to Improve Company Performance

APPENDIX B

BUILDING A ROBUST SUCCESSION MANAGEMENT PROCESS

Succession management is one of the most powerful and most complicated development methods available to companies. At least seven components need to be built out to create a fully robust succession management process:

• Succession framework: Creating a well-defined calendar of events and actions associated with succession such as nominating high-potential candidates, conducting talent reviews, and assigning development actions to identified successors for different roles. At the simplest level, this may be an annual talent review. At advanced levels, it becomes a dynamic process for integrating talent management into ongoing business operations and strategic planning activities.
• Critical ...