I’ve been asked to research employee development and succession planning and present the findings to senior management. If implemented, it could lead to a promotion for me. I don’t know where to begin or what the end product should look like. I need help getting started. —Anonymous, Via the Internet
Every company needs talent management and succession planning. It is how an organization attracts, keeps, and promotes the most talented individuals and stays competitive. “It’s making sure the right people with the right competencies are in the areas that make sense for the company,” explains Bernard Bedon, senior vice president, global talent management and director of Publicis Groupe Media.
Implementation of a plan, however, requires analysis and an audit of talent, competencies, and the company mission, explains Bedon. “[It requires] looking externally and internally to assess the gaps [to fulfill the company’s value proposition]. Do we develop them, or do we get new people?” You would be most effective in outlining the importance of implementing such a program, and showing the benefits through case studies, suggests Bedon.
If your company is serious, implementing the right program is going to require a financial investment for the expertise to do it correctly. If they are cutting corners this early, please make sure that you are indeed rewarded or compensated fairly for your efforts.