- 73% have a plan, or have budgeted to start one within 12 months.
- 26% do not have a plan.
But few companies have automated the succession planning process.
- 62% use a paper-based process.
- 32% have partially automated the process.
- 7% have fully automated the process.
From CIO Magazine, comes this article on Succession Planning: Are You Automated?
- If employees can't see a career path for themselves and "they don't see anywhere to move within the company, they get jobs outside of the company.
- Be proactive. Don't wait until someone leaves to look into his or her replacement. Once you have a succession planning program, review it regularly. If it doesn't positively affect retention, it's not working.
- Combine efforts. Include talent and performance management and compensation in the succession planning process. Succession planning should be directly linked to areas like training. Invest in software that ties in these processes, and includes a reporting and analytics component.
- Enact the plan across the company. Succession planning isn't just for executives anymore: Make sure the plan touches every level of the organization.