Succession Planning defines the future scape of the organization. It is simply defined as a purposeful and systematic effort made by an organization to ensure leadership continuity, retain and develop knowledge and intellectual capital for the future, and ensure associates there is commitment to their growth and development. This freqently is supported by EWC's Sophsiticated Success Planning Roadmap. Some organizations prefer using our technology platform as a self-directed approach integrating our success planning assessment job match tools. Succession Planning is a critical business process component:
Trends influencing Succession Planning include the ultimate increase in organization value by 5-8%, adding confidence in stockholders, associates and new acquisition talent.
Increases in attraction of C-Suite talent, specialty functions and next generation leaders.
Staves off and responds to market concerns and uncontrolled global economic conditions where workforce downsizing and increasingly flat and dynamic organizational structures.
Improves loyalty, focuses on employee engagement and the customer.
The culture is more sophisticated and what emerges on the part of senior executives is the importance of values, competencies, intellectual capital, and leadership.