How can your business maximise its succession planning pool?
Attracting and recruiting the right individuals who are able to drive innovation long term can be a difficult task when it comes to succession planning for even the biggest corporations in any professional sector.
While most businesses will spend years researching and developing the core requirements that potential candidates will need to possess in order to secure a position at the company, it is likely that unsuitable individuals are still being headhunted, which will ultimately waste time and money on unsuccessful recruitment efforts.
To ensure that a talent pool is as stable as it can be, there a number of modern methods available which will allow businesses to identify candidates who are suitable and qualified, especially in leadership positions.
Update succession planning strategies regularly
Implementing and maintaining a succession plan can be a thankless task for c-suite employees, as more often than not it means that a highly qualified individual with years of experience is set to depart the business. This, however, can be taken advantage of to ensure that a replacement candidate has all of the tools necessary to succeed.
Involving current employees, assessing any strengths and weaknesses and conducting a skills gap analysis on a regular basis are all ways in which current business leaders can ascertain precisely what they need from a potential candidate, which in turn will ensure that a succession planning strategy is as accurate as possible.
These methods are particularly beneficial for the recruitment of project executives in industries like construction or steel, for example, where leadership performance is typically related to repeat business.
Identify the requirements of target candidates
Those responsible for identifying, interviewing and ultimately hiring individuals for roles within the business will have an idea of the type of candidate they are trying to recruit based on specific goals and KPIs. When it comes to creating a succession planning pool, developing a clear understanding of what candidates want in their career will increase the chances of a successful placement.
For example, if a business is looking to recruit a Millennial employee to ensure long term continuity, then detailed research into the needs and requirements of an employee in this group can go a long way. According to a study conducted by Bridge, 90% of Millennial employees want to grow their careers at current companies. This could mean that hypothetically, a business should focus their recruitment efforts on offering long term progression in order to attract the best candidates to their pool.
Consider international recruitment to ensure a global reach
The right candidate for a specific role may not necessarily be located in a convenient area for employers, meaning that businesses are potentially missing out on talented individuals if they fail to consider the benefits of international recruitment.
Establishing a reputable global network can open up new avenues for businesses to explore within their succession planning and recruitment efforts, potentially securing employees who are able to take the company to new levels. At G&E Partners, our years of experience allows us to connect leading brands with innovative candidates in untapped corners of specific markets. For more information, please visit our clients page.
With the ultimate goal for many businesses in terms of recruitment being to identify and place the best available candidates quickly and effectively, implementing modern methods to maximise a succession planning pool can make the process more prudent long term.
Maximising your succession planning pool will ultimately improve your recruitment efforts long term. For help sourcing top talent, contact G&E Partners today.