Which Path to Follow in Workforce Planning?
Tim Sacket recently published a great article on the “Next Big Thing in HR” at Fistful of Talent. He asserts that succession planning is about to surge back to the forefront due to a slowly recovering economy, which will lead to a continuing exodus of baby boomers finally entering retirement over the next few years. Tim reviews the difficulties HR faces in tackling succession planning, budget constraints, the need to be ‘strategic’, and coordinating across both the function and structure of the entire organization, but also highlights the role technology can play to facilitate the process.
One of the biggest hurdles to overcome is getting the focus of the organization on a future talent landscape 3 to 5 years from now. While the business unit will face many challenges within the years leading up to a succession plan, it is the role of HR leaders to ensure the future success of the firm’s talent. Proactive HR leaders will plant the seeds of the succession plan now for future success.
Firms have got to be more strategic than just developing a succession plan though. Given the tightened budgets that have dominated the market over the recession, HR leaders have got to determine the critical roles that are strategic to the firm’s future success. HR professionals must be able to identify capable future leaders for development in the talent pool. Companies must leverage their limited resources into the right person at the right time in the right position. If a firm cannot currently state who is in the pipeline to replace each key individual, how can they possibly be adequately preparing their future leaders for those positions?
Join HCI for the webcast, Identifying Critical Roles and Future Leaders on a Limited Budget, exploring this topic on April 16, 2013 at 12pm EST. Contribute to the ongoing dialogue between thought leaders, expert practitioners and our members on how to utilize strategic planning and social technologies to identify which roles are critical to the firm’s success and which employees possess the ability, aptitude, and drive to become future leaders.