SUCCESSION

PLANNING ANALYTICS
NEHA S.
28 MBA A BATCH
ROLL NO. 542
 CONTENTS
5. GOLDEN RULES FOR SUCCESSFUL
1. INTRODUCTION SUCCESSION PLANNING

2. SUCCESSION PLANNING
6. SUCCESSION PLANNING METRICS
ANALYTICS

3. BENEFITS OF 7. COMPONENTS OF EFFECTIVE

SUCCESSION PLANNING SUCCESSION PLANNING
ANALYTICS
8. EXAMPLE
4. IMPORTANCE OF
9. CONCLUSION
SUCCESSION PLANNING
ANALYTICS 10. REFERENCES
INTRODUCTION

Succession planning is the process of identifying and

preparing individuals to take on leadership roles within a

company, ensuring smooth operations in the absence of key

personnel due to retirement, resignation, etc. It ensures a

smooth transition of power in key leadership roles. It will help

motivate the employees, and also save cost and extra time

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 SUCCESSION PLANNING ANALYTICS

Utilizing data and statistical analysis to make educated decisions

about potential successors is known as analytics in succession
planning. Organizations can evaluate candidates for important
positions by looking at performance metrics, competences, and
other relevant data. Additionally, it enables talent forecasting and
individual data analysis to assess succession preparation. Overall, by
offering data-driven insights and predictions, analytics improves the
efficacy and accuracy of succession planning operations.
BENEFITS OF
SUCCESSION PLANNING ANALYTICS
 IMPROVED DECISION-  ENSURING BUSINESS
MAKING CONTINUITY
Data-driven insights enable better Effective succession planning analytics
identification of high-potential employees minimizes disruptions and ensures a
and more accurate talent forecasting. smooth transition of leadership roles.

 MITIGATING RISKS &  ENHANCING EMPLOYEE

IDENTIFYING SKILL GAPS DEVELOPMENT & ENGAGEMENT

Analytics help identify critical positions Data-driven insights enable personalized

at risk, uncover skill gaps, and develop development plans, fostering employee
targeted strategies to address them. growth and engagement
Identifying
High-
Potential
Candidates

Objective
Decision-
Making

IMPORTANCE OF
Strategic SUCCESSION
Planning
PLANNING
ANALYTICS

Talent Gap
Analysis

Succession
Readiness
Assessment
 Objective Decision-Making: Analytics provides objective and data-driven insights into potential
successors' performance, skills, and competencies. It helps eliminate biases and subjective judgments,
ensuring that succession decisions are based on accurate information and relevant metrics.

 Identifying High-Potential Candidates: By analyzing various data points such as performance records,
assessment results, and career trajectories, analytics helps identify employees with high potential for future
leadership roles. This enables organizations to focus development efforts on individuals who are most
likely to succeed in key positions.

 Talent Gap Analysis: Analytics allows organizations to assess the current and future talent needs of the
organization. By analyzing demographic data, retirement projections, and skill requirements, organizations
can identify potential talent gaps and take proactive measures to address them.

 Succession Readiness Assessment: Analytics helps evaluate the readiness of potential successors for key
positions. By analyzing individual data, such as performance, skills, and competencies, organizations can
assess whether employees are prepared to step into leadership roles or if additional development is
required.

 Strategic Planning: Analytics enables organizations to make strategic decisions about succession planning
based on predictive modeling and scenario analysis. By analyzing historical and current data, organizations
can forecast future talent needs, anticipate potential risks, and develop contingency plans.
 GOLDEN RULES FOR
SUCCESSFUL
SUCCESSION PLANNING
 Have replacements ready for 90% of critical positions

When 70% of critical positions have replacements available, succession planning begins to
positively impact revenue development, according to Jac Fitz-Enz, the founder of human
capital strategic analysis and measurement. A decent rule of thumb is to aim to have
replacements available for 90% of all key roles at any given time, just in case someone in a
crucial position were to depart suddenly.

 Seek out the needles in the haystack

Achieving 90% coverage for essential positions in succession planning can be a

challenging task. However, a key strategy lies in identifying potential successors among
existing employees who possess the capacity and potential to grow into critical roles, even
if they have not yet been formally identified. By actively searching for these individuals
and investing in their development, organizations can tap into the hidden talent within their
ranks, foster growth opportunities, and bridge the succession gap.
 Monitor the risks

The succession positions are often challenging to fill, especially considering the current
job market where skilled individuals have abundant opportunities due to the low
unemployment rate. Organizations must recognize the increased competition for talent and
adapt their succession planning strategies accordingly. To overcome this hurdle,
organizations should focus on building a strong employer brand, fostering a positive work
culture, and providing opportunities for growth and advancement.

 Build succession into the workforce plans

By integrating succession planning into overall workforce plans, organizations can gain
valuable insights into when and where replacements will be needed. This integration
enables alignment between future plans, changes, and opportunities within the
organization, and the developmental needs of the most crucial talent. By synchronizing
these elements, organizations can ensure that the development and growth of their
potential successors align with the strategic goals and direction of the organization, leading
to a more seamless and effective succession planning process.
SUCCESSION
PLANNING
METRICS
 COMPONENTS OF
EFFECTIVE SUCCESSION
PLANNING
Identifying key positions Talent assessment

Succession planning starts with determining which key After figuring out the key positions, the next step is to look

roles and positions in the company must be planned for. at the talent already in the company. This means judging

Most of the time, these jobs are leadership positions or jobs people based on their skills, knowledge, and ability to see if

that greatly affect how well the business does. they are ready to be leaders in the future.

Development and training Succession pool

Succession planning starts with determining which key For succession planning to work, you must have a strong

roles and positions in the company must be planned for. pool of people who could take over. This means making a

Most of the time, these jobs are leadership positions or jobs list of people who could take over key jobs so that more

that greatly affect how well the business does. than one person is ready to take charge when the time

comes.
Performance management
Performance management is a key part of an
effective succession planning strategy.
Performance reviews and feedback given on a
regular basis help find workers with high
potential and keep track of their growth over
time. It also lets organizations deal with
performance gaps and offer targeted chances
for growth.
Communication and transparency
For succession planning to work, there must be open
conversation and honesty. Employees should know
how the company plans for the next generation of
leaders, how they are chosen, and what growth and
promotion opportunities are available.
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Knowledge transfer
Knowledge transfer is an important part of
succession planning, especially when a boss
is being replaced by a new one. This means
writing down and storing the important
information, skills, and experiences that the
next person in line will need to do their job
well.
Continuous evaluation and
adjustment
Succession planning is an ongoing process
that needs to be evaluated and changed on
a regular basis. Organizations should
review and change their succession plans
regularly to ensure they keep up with
changing business needs, talent availability,
and new leadership requirements.
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EXAMPLE OF SUCCESSION PLANNING
ANALYTICS IN REAL WORLD
SCENARIO

Organization Y implements succession planning analytics to evaluate

employees' potential and competencies for specific leadership roles.

They conduct competency assessments, 360-degree feedback surveys,

and potential assessments to gauge employees' readiness for

advancement. Based on the data collected, they create a succession

readiness score for each employee, enabling them to prioritize

development efforts and succession planning decisions.

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CONCLUSION

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Without a comprehensive succession plan, any abrupt departure, dismissal,
or underperformance will result in total disorder within the firm. Planning
for succession is so crucial for any organization. It serves a strategic HR
purpose. Its goal is to map out the organization's important positions and
identify potential successors who are (or will be) prepared to fill them when
they become available. Organizations with strong succession planning
initiatives are more adaptable. They already have someone in mind who can
step up and take over when a crucial position becomes vacant. Employee
motivation is also increased by succession planning since they may see a
future with the company.

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REFERENCES
 https://www.aihr.com/blog/succession-planning-metrics/

 https://economictimes.indiatimes.com/definition/succession-pla
nning

 https://www.investopedia.com/terms/s/succession-planning.asp

 https://www.visier.com/blog/succession-planning-success-golde
n-rules-future-proofing-business/

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THANK YOU!
Mirjam Nilsson
206-555-0146
mirjam@contoso.com
www.contoso.com