Merit HR had the pleasure of diving deep into the new trends in #SuccessionPlanning with insights from talent management thought leader B. Lynn Ware last week. 🌟 Some key learnings: While succession planning is crucial to ensuring continuity and stability, especially given the widely held belief that people are an organization’s most valuable asset and the key to long-term success/differentiation, only 25% of organizations engage in regular succession planning. And, when they do, they limit it narrowly to executive leadership. A competitive advantage can be built and maintained by not only having a succession planning initiative, but by expanding it throughout an organization from entry level up via career pathing and investing in skill development. 📈 A structured process boosts speed, productivity, and engagement/retention—especially among Millennials and Gen Z who crave career development. The career ladder, where plans are 1:1, no longer works when thinking of succession planning in these broader terms. As programs are developed, a philosophy that talent has multiple different paths for advancement/development are more realistic and will produce better results in terms of engagement, retention, and viability. Modern tools, many of which leverage AI for better internal candidate matching, can significantly enhance internal talent mobility and skill-based development.
🌐 Investing in a comprehensive succession planning program isn’t just about safeguarding the future—it's about empowering your entire organization to thrive and evolve.
Big thanks to Merit HR CEO and resident HR Evangelist Danika Davis, for hosting and moderating this insightful session. 🙏 Kudos to Merit staff Jesica Rebar and Naomi Fisher for planning, support, and logistics. Thank you to all of our attendees for your participation- special thanks to Lisa Hickey, SPHR, Lorianne Lee, SPHR Lee, Teresa Abrahamsohn, TehShan Lee, Maureen Middleton, SPHR, SHRM-SCP (she/her), Jenny Vonderwerth, Brenda Stone for their insightful thoughts!
Together, let's ensure our succession planning is forward-thinking, inclusive, and adaptable to the evolving workforce.
🚀 #HR #TalentManagement #FutureOfWork #CareerDevelopment #DiversityAndInclusion #AI #WorkforcePlanning #HRConsulting #HRStrategy
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