Succession management: Chances are your plan is worse than you think

A popular HR management talking point, succession planning has always been recognised as a critical business function, especially by those who have seen business grind to a halt when a manager leaves.

Most organisations believe they have solid succession plans in place, yet research in Asia and globally consistently shows the majority of organisations are at risk due to unsatisfactory succession planning and leadership development programmes.

"The lack of a clear, robust and updated succession plan can make or break a company," said Aditi Sharma Kalra, regional editor of Human Resources magazine.

"The simple fact is that top organisations with strong defined leadership pipelines have reported improved earnings compared to those which don't."

According to pre-eminent research firm, Brandon Hall Group, 84% of global organisations across major industries report having a lack of candidates ready to assume open and critical positions.

This is where many organisations face difficulties – their current succession processes are either non-existent or simply inadequate and ineffective.

As a result, companies face unnecessary downtime when people leave, leaving a huge dent on productivity.

Hence, the HR Academy is conducting an intensive, 2-day training workshop on advanced succession management.

ALSO READ: Introducing Asia’s very own HR Academy

Targeted at "developing and preparing your talent for organisational excellence", this workshop will be led by highly respected HR expert from Chicago, USA, Michael Monar.

The course will be held in Hong Kong, Kuala Lumpur and Singapore and will equip senior HR professionals with everything they need to devise and implement a simple yet cutting-edge succession management system in their organisations.

As with all HR Academy workshops, this session will be capped at 20 attendees.

"When faced with sudden disruptions in businesses such as employee resignations and changes in product demands, many HR practitioners share the same problem of having to cope with such issues," said Kenneth Neo, regional producer at Human Resources magazine.

"All of these could be traced back to poor succession practices, which should in fact cover all key critical positions within an organisation."

Neo added: "This course is essential for companies that wish to improve on their succession practices and integrate them with the rest of their talent management and business strategies.

"Proactive management is vital in ensuring that succession plans stay updated and relevant to business needs."

The HR Academy runs courses in an interactive workshop format, blending real-life case studies and practical examples with the expert knowledge and experience of external trainers to ensure maximum value is delivered.

Delegates undergo intense learning and interaction with their trainer and fellow course participants, and take away global best practices, fresh ideas and customised solutions for implementation back in their organisations.

HR professionals interested in learning more about the HR Academy can visit the website or call the following members of the Human Resources magazine team:

- Hong Kong: Che Fantonial, Project Executive, chef@humanresourcesonline.net, +65 6423 0329- Malaysia: Seraphine Neoh, Senior Project Manager, seraphinen@humanresourcesonline.net, +65 6423 0329- Singapore: Renamel Torres, Project Executive, renamelt@humanresourcesonline.net, +65 6423 0329