Time & Attendance
By Staff Report
May. 1, 2012
The goal of workforce planning and succession planning is the same: putting the right people—across the organization—in the right jobs, doing the right things at the right time. However, the difference between workforce and succession planning is distinct. Workforce planning is typically budget-driven and focused on staff-level jobs, hiring forecasts and internal resource projections.
Workforce planning also focuses on:
Succession planning is a systematic approach to professional development with the express purpose of ensuring that selected (typically senior) staff is trained, experienced and ready to assume future leadership positions. Succession planning also focuses on individual and team transition needs and effectively guides implementation.
Succession planning includes aspects of workforce planning but also requires:
Although many organizations do annual workforce and “headcount” budget planning, fewer than 1 in 10 large organizations proactively integrate management development and succession plans with strategic business objectives, according to a survey of 1,098 senior managers and executives by the American Management Association.
For organizations that do, the results can be transformative. Increasingly, more boards of directors, investors and funders are now demanding documented succession plans for top management of public corporations and nonprofit organizations. Succession planning is a critical component of workforce planning. And it is a trend that experts consider to be a best practice and sound investment for any organization intent on sustainability, beyond the limits of a selected few people.
SOURCE: Patricia Duarte, Decision Insight Inc., Boston
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The information contained in this article is intended to provide useful information on the topic covered, but should not be construed as legal advice or a legal opinion. Also remember that state laws may differ from the federal law.
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