Since succession planning
is core not only to retention,
but also to having a proactive
approach to organizational
planning for long-term sustainability, it must become a
priority. As noted in the research comments, developing
succession planning programs
with the opportunity for employees to develop the skills,
behaviors, and experiences
required to be successful in the
postrecession era is critical.
Since businesses have be-
come increasingly complex
and customers’ expectations
are elevated, employers must
be prepared and adept at how
to navigate myriad operational
complexities while managing
risk and handling increased
regulations and requirements.
Key elements of succession
• Performance manage-
ment. A critical area of focus
should start with the often-
Employees should never
hear new feedback during the
yearly performance review
process. Instead, managers
and employees should meet
quarterly to review progress in
the prior quarter and to discuss
the top priorities for the next
quarter. Through the process
of reviewing goals and focusing on just the essential few,
managers and employees gain
alignment and clarity.
Once goals are agreed
upon, frequent interaction
needs to remain a priority.
Immediate and specific positive and corrective feedback
must occur. Managers often
shy away from addressing
problems up front because of
fears that it will be uncomfortable and create unhappy employees, but, in fact, the opposite occurs: Employees respect
the rare manager who will
confront reality in a constructive manner.
Retaining your best and brightest is key
to a successful succession plan.
According to a survey performed by the LMA Consulting Group ( lma-consultinggroup.com) in conjunction with the APICS Inland Empire
Chapter ( apics-ie.org), executives said that succession
planning is tied as a No. 1 priority in retaining top talent.
This is especially noteworthy when considering that 87%
of manufacturers and distributors are experiencing a
skills gap—that is, their employees do not have enough
skills to meet the ever-increasing requirements or they
have lost qualified people to retirement, job transfers, etc.
Yet 77% of manufacturers and distributors are struggling
to find qualified candidates. In short, an employer’s ability to retain scarce top talent is considered essential.
BY LISA ANDERSON