Has your organization become too focused on a certain department? Have you sacrificed your future in favor of short-term gain or sales? Do you have a plan for how your company will evolve over the next five or ten years? Many business owners get caught up in day-to-day operations or narrow-minded goals and forget to look at the big picture. For a company to be successful and guarantee its future success, CEOs and HR managers need to always have an eye on succession planning. This is the process where an organization ensures that the right employees are recruited and developed to fill the necessary leadership roles in the business.
With the proper plan, you can guarantee that you’ll never have any holes to be filled or be too heavy in one department and lacking in another. Here are some tips on what your company’s plan should include:
How To Enhance Your Company’s Succession Planning
Making sure your company runs smoothly is about always having the ‘right people on the bus.’ This means that each role needs to be filled by a competent and well-trained team member. It also means that when one member moves up in the organization, there is someone ready to take his or her place with little to no downtime. This seamless movement of staff creates a fluid and highly successful environment. Consider these tips to help enhance your succession program.
Make Your Company Attractive to the New Generation
No company can continue to thrive if they don’t attract and recruit the new generation. Millennials are joining the workforce in record numbers and can be a huge asset. However, you need to make sure your company is an attractive place to them. Millennials enjoy working when, where, and how they like.
To appeal to them, develop a program that will help them thrive. This includes implementing mobile technology and allowing for remote work. Many millennials prefer working home and will appreciate real-time reporting software and the ability to use their own devices to clock in and out. An added benefit of adding this technology is that it will also benefit your current team members and improve their efficiency.
Focus on Engaging Staff At Each Stage of the Lifecycle
Many owners or managers make the mistake of heavily focusing on new recruits or on retaining veteran employees. A good plan ensures that you are focused on employees at each stage of their life cycle.
You should have a plan in place to recruit and orient new employees. You should also know how to motivate employees and encourage them to advance. Rewarding seniority and top contributors should also be on your radar. When you have ways to engage and motivate all of your employees, regardless of how long they’ve been with you, you ensure a balanced company.
Recruit Internally and Externally
Business owners who are always looking to the outside to recruit are making a huge mistake. Many times, the best people for a job opening are already working for your company. They simply need to be identified and encouraged to apply for promotions and new job positions within the company. Having a plan in place to fill the holes they leave when they advance is a key consideration of a good program.
Track and Reward Performance
Employees who are recognized are happy employees who will stay with you. HR staff members can use innovative solutions to access information quickly and easily when you give them an HR software program to use.
This helps them to identify which employees are achieving goals. It can also help identify red flags and provide ways to help struggling employees before they become frustrated. HR can then put a plan in place to reward these employees and give them incentives to produce even more.
Provide a Culture Employees Love
Keeping your best employees should be just as important as attracting new talent. To do this, you need to create a culture that your team loves. Flexibility is usually the key to a great work environment. Help your employees have a work-life balance by giving them options.
Provide work-from-home or remote working solutions. Provide incentives that are important to them. Recognize great work and find a way to reward and encourage it. When you develop a healthy and motivating culture, employee retention and recruitment becomes seamless.
The future of your business is just as important as its present state. Don’t make the mistake of focusing too heavily on one group of employees or on one department. By developing an effective and efficient plan to focus on both recruitment and retention, you can ensure your business will thrive well into the future.