Succession planning Essay Example | Topics and Well Written Essays - 750 words

Succession planning - Essay Example This is because the company was prompted by the varying statistics of the workforce. However, in 1995, the company realized that most women who were successful to attain the vice president level were the white women. Out of these results, the company’s Chairman and CEO who was heading the company at that time used the leaders who were reporting directly to him to develop women of different races in order to be represented in the vice-presidents position. The leaders had big roles to play to develop and monitor workers from the minority groups, especially women from other races apart from the whites. The company ensured that women of other races benefited from all the succession planning process within the company. The structure of succession planning used by the company involved the following: First, it involves making a commitment. Individuals in the top management should be committed to succession planning. They should be prepared mentally to handle abrupt loss in the organization resulting from death, disability, resignation and retirement. Secondly, it involves assessing the current work requirement and competence of individuals. Those involved in decision making in the company should ensure the work to be done and the output requirement is clarified. Thirdly, individual performance should be appraised. A company should eliminate any existing barriers to individual performance and encourage them to do their best. This can be achieved through establishment of performance management systems. Fourthly, it involves assessing future requirements output among individuals. Those involved in the decision making should come up with necessary competences which will enable the organization to be suc cessful. The fifth step involves assessing individual potential. An organization should come up with ways of assessing what individuals are capable of in present and future