Last month I highlighted all "Eleven HR Strategies for 2011" from the January 2011 HR Magazine, article by Robert J. Grossman, lawyer and professor of management at Marist College.  Each newsletter will highlight one of the strategies in some detail. 

 This is Strategy 1 - "Look at succession planning and talent acquisition"

 This strategy focuses on the issue of high potential staff members getting impatient in their current positions.  They are seeking higher pay, better benefits and more challenges.  Many are thinking about where they can go to move up and as a result, resumes are out there trying to find that new fulfilling position.

Headhunters have an abundance of good talented people in the pipeline.  As you think through what your business needs in the future, you should consider the talent that is out there looking utilizing headhunters to find that "perfect" fit for your organization.  In order to know what skill sets and expertise you will need, you have to establish a well thought out succession plan.  You will want to ensure that you have "two deep" in talent to replace those in management positions now.

According to Hal Johnson, chairman of Global HR Practice at Korn/Ferry International in New York City, "the number 1 concern is the pipeline and succession plan.  Most CEO's and boards are disppointed with the status of their succession plans".  It was noted that many plans exist but don't have the action steps important to ensure they are useful and moving in the right direction. I find this to be true in many organizations as well.

Most organizations don't address succession planning and end up in a "reactive" mode when facing the need to replace someone.  At that point, it really is late in the game.  Many business owners are worried about who they will be able to turn their business over to, many senior managers worry about who will replace them or who would be a good replacement for a peer or other significant position.  Many senior management teams are not prepared to replace those in significant management positions.  It is important that you think ahead, that you have a strategic succession plan that has clear goals and actions with timelines to ensure you stick to the plan as a priority.  Invest in the talent that you have that have promise, to move up to the more senior positions.  Keep them engaged, pay them well, provide proper, ongoing performance evaluations as well as professional development.

Seek those outside of the organization that will provide the new ideas and energy to keep all motivated and challenged to "fill the gaps" in the areas that your in house potential candidates may  not possess. The key is to fully understand the "gaps" to know how to "fill" them.