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As employers grow and begin to mature, succession planning often becomes a talked about concept, but rarely does action follow the talk. It seems that business owners and executives often struggle with where to start and what to do, and ultimately end up in a position where they start the process too late.
By following a Talent Review process, employers identify gaps in bench strength, focus areas for recruiting and development, and clarify replacement (hit-by-a-bus) planning needs. Regardless of the specific process or templates used, it is absolutely critical that the following are a part of any successful Talent Review process:
• Inclusion of all key stakeholders, potentially including “on-the-rise” managers that may be both reviewers and reviewees
• Confidentiality policies and ground rules for the discussions
• Commitments regarding openness and asking the tough questions
• Tying the process to individual development plans, coaching and feedback sessions, or other meaningful actions
• A plan of action that involves revisiting the results of the Talent Review process at regular (quarterly, 6 month, or 1 year) intervals
Typically, in small to medium-sized organizations, the result of an effective Talent Review process is nearly instant clarity on 5 to 7 critical staffing-related challenges or required actions going forward.
EctoHR, Inc. is here for your company
For support in facilitating your Talent Review process and aligning professional development and succession planning efforts, contact EctoHR by calling 810.534.0170, or by email to email@example.com to discuss our approach and its success.