SUCCESSION PLANNING: WHAT, WHY, & HOW
Wednesday, January 3, 2018
If one day, your executive team were to leave the company, what would happen? Who would take the reigns? Would you be left with an empty C-suite or would you have qualified individuals trained and ready to take their place?
An organization cannot succeed without strong leadership. As health care organizations are faced with meeting the demands of the constantly shifting field, talent management and succession planning are especially crucial.
WHAT: Securing the Future of your Organization
Succession planning is essentially replacement preparation. It involves identifying job vacancies that may occur as a result of retirement or as the organization matures, and strategically determining how internal candidates can grow in order to fill those positions.
WHY: Identifying Emerging Leaders for Benefits Now
Succession planning has obvious benefits for the future of the organization, but planning ahead also will benefit your business in its current state.
Gives your Company a Clear Path
With a proper succession plan in place, there is no question of who will lead the organization in the future. This ensures the enterprise will live on after top executives and other key team members depart, and eliminates confusion and uncertainty at all levels of the organization.
Delivers Money Savings
Promoting from within allows the organization save on the costs of external recruitment and training, as well as the general upfront costs that come with hiring.
Promotes Diverse Teams
For succession planning to work, it requires teams that are diverse in age. Team diversity means varied skillsets and the opportunity to teach, learn from, and share with one another.
Succession planning programs tend to appeal to millennials, who often look for development opportunities, and seek to feel valued within an organization.
Increases Employee Retention
Providing employees with a clear growth path, and targeted career development to help them to stay on track not only helps to increase productivity but also makes them feel valued, increasing their desire to stay with the organization.
HOW: Creating a Plan that Works
Transparency, continuous plan improvement and a clear commitment to employee development are the keys to a successful plan.
Attract the Right Candidates
A succession plan will only be as effective as the internal candidates available. Attracting the right employees means that come time to put a succession plan into place, you have a strong list of viable candidates who can fill future roles. In a recent succession planning effort, ASHE developed the video below to increase awareness of the field among young adults. (Consider sharing this video with your social network to spread awareness of this noble career path!)
Give Employees the Tools to Succeed
Empowering employees with continuous training, shadowing exercises, development opportunities and the chance to partake in “stretch” projects geared towards the next level will ensure that they are ready to lead when the time comes.
Engage the Entire Organization
Not only should HR and leadership be thinking about succession planning, the whole company should. While the C-suite and board may make the major decisions, everyone from entry-level employees to managers and beyond should be engaged and aware of the plan.
Like any well-laid plan, succession plans should be revisited often, usually annually, and revised as necessary based on changes within the organization or field landscape.
The PDC Summit can help you prepare for the future.
Do you want to learn more about the merits and challenges of team diversity? Join us for the 2018 PDC Summit session, Collaborative Partnering - Training the Next Generation, a roundtable discussion about team development and collaboration. Discuss issues encountered by teams in real life, and garner perspectives on training the next generation. The Emerging Professionals Forum will also provide the opportunity to discuss future leadership in health care design.
The 2018 PDC Summit also hosts a student design competition each year. Consider attending the AIA/AAH PDC Student Challenge 2018 Jury Judging on Sunday or the AIA/AAH PDC Student Challenge 2018 Overview and Winner Presentation breakout session on Monday.
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