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Succession Planning: How to Do It Right

Episode 71

Episode Overview

Are you concerned about the ripple effects of key leaders exiting your company? Are you uneasy about favoritism skewing succession planning? In this episode of the Hire Calling podcast, our hosts, Pete Newsome and Ricky Baez, tackle the pivotal theme of succession planning within the hiring, staffing, and recruiting sphere. Ricky, an adept HR consultant and college instructor, imparts his knowledge on eight vital succession planning steps.

He shares why this crucial strategy is often overlooked and the challenges organizations face in its execution. The discussion illuminates the prevalent issue of favoritism in choosing successors and underscores the necessity of evaluating skill sets and gathering diverse input during the succession planning process. Tune in to learn more!

31 minutes

Steps for Successful Succession Planning

  1. Initiate Early and Maintain Continuity: Kick-off succession planning well in advance, ensuring it’s an ongoing practice. Circulate employee expertise to prevent hasty decisions when the time presses.
  2. Mirror Organizational Culture: Choose future leaders who exemplify your company’s culture. Align talent nurturing and advancement with these core values.
  3. Anticipate Role Openings: Spot and sequence roles that may soon open up, like impending retirements, and strategize for their eventual filling.
  4. Plan for the Unexpected: Succession planning turns unforeseen exits into smooth transitions. Pinpoint backup successors to step in without missing a beat.
  5. Validate Your Plan: Test drive your succession picks by entrusting them with leadership roles in temporary absences.
  6. Merge Succession with Recruitment: Weave succession planning into your hiring processes. Prepare for the gaps left by those moving up internally.
  7. Involve Staff Aspirations: Include staff in discussions about their professional aspirations, promoting horizontal as well as vertical growth.
  8. Recruit With Professional Guidance: Bring in staffing professionals to navigate and refine your approach to succession planning.

Additional Resources

A closeup of Pete Newsome, looking into the camera and smiling.

ABOUT
Pete Newsome

Pete Newsome is the President of 4 Corner Resources, the staffing and recruiting firm he founded in 2005. 4 Corner is a member of the American Staffing Association and TechServe Alliance and is a 9-time ClearlyRated Best of Staffing winner. Recent awards and recognition include being named to Forbes’ Best Recruiting and Best Temporary Staffing Firms in America, Business Insider’s America’s Top Recruiting Firms, The Seminole 100, and The Golden 100. He hosts the Cornering The Job Market podcast and YouTube channel, including The Week in Jobs, a weekly podcast and livestream on U.S. job market data, trends and news. He also hosts The AI Worker YouTube channel, where he explores artificial intelligence’s impact on employment and the future of work. Connect with Pete on LinkedIn

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