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Succession Planning in Middle Managment - Essay Example

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An investigation into the succession planning in the middle management within the Cayman Islands will be conducted to determine if succession planning is being conducted in the Cayman Islands. This will be done through interviews with the people of Cayman Islands who are part of the middle management in organizations in the said place…
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Succession Planning in Middle Managment
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Download file to see previous pages Effective succession planning should be integral to the organization's culture, and the process should cultivate "predictability" rather than "chaos" or last minute scrambling to find potential leadership candidates (Succession Planning for Nursing Leadership, 2006). Succession planning considers moving through different levels of leadership, such as local chapters to provincial or territorial to national organizations.
Stated simply, business succession planning is the process of protecting the owners of a business by planning for the incapacity or death of an owner. The succession plan should address (i) the identity of the successor manager(s) of the business, (ii) the identity of the successor owner(s) of the business (perhaps most importantly, by identifying permissible successor owners, we identify those who cannot be successor owner(s) - creditors and other outsiders), and (iii) treatment of the interest of a departing owner, whether the departure is due to retirement, disability or death. The advantage of putting a plan in place to deal with inevitable events is that we limit (or eliminate) the unknown and can reach mutual consensus before a potential crisis.
Succession planning aims to attract high potential people (rising stars) to develop as leaders, enhance other's leadership skills through formal and informal methods, improve all aspects of others' potential and institutionalize leadership development in your association or organization. Succession planning along with workforce management in general is increasingly regarded as a growing influence in determining the success of an enterprise. If it is undertaken effectively then it can ensure that your organization has capable and trained managers to guide its growth (Succession wizard, 2006).
The importance of succession planning is in the move to flatter management structures. Succession planning is insurance for when key people leave an organization. With fewer layers of middle management available to fill these key roles it is important that potential successors are identified early and given appropriate training so that when the time comes for their move to more senior roles disruption is minimized.
The important thing is to build a succession plan which is ongoing and durable rather than something which you just look at during the annual planning process. People are the most important asset and good workforce planning will give business a clear performance and competitive advantage.
Organizations generally have a wealth of talent already working in different positions and levels throughout their business. This hidden resource needs to be identified and tapped as it is a key factor in effective succession planning. Workforce planning allows to know the skills and resources that are already in these people. Utilizing gap analysis, succession planning can identify those people who, with provision of support and training, can climb management structure and become its future leaders.
Common elements of succession planning are balance of succession in the industry and organization, ...Download file to see next pagesRead More
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