In a recent study<\/a>* by Software Advice, a company that evaluates<\/a>\u00a0HR software, on the role that succession planning plays in increasing employee engagement, five key findings emerged:<\/p>\n In a session this week with a client, a Gen Y employee shared why he felt so committed, engaged and loyal to his manager.\u00a0 He indicated that he could trust his manager because she had consistently demonstrated a commitment to support him by \u201chaving his back\u201d and being invested in building his skills and helping his grow. Part of the succession planning process is nurturing talent in your business so that high performing employees can progress within your organization. By collaboratively identify what skills employees need to develop and what experience they must be prepared for, you will be establishing a talent pipeline that you can tap into.<\/p>\n Thus, career development is a crucial component of succession planning. Previous Software Advice research<\/a> shows that over half of younger workers (age 18 to 34) say access to professional development training would positively affect their decision to remain at a company. The same results were true for succession planning. Implementation of succession plans has a positive impact on younger workers. In fact, over 90 percent of workers age 18 to 34 say their engagement level would improve if they worked for a company with a succession plan in place, compared to a company without one.<\/p>\n Interestingly enough, employees who are between 55-64 years old would also have a significant increase in their engagement levels by participating in a succession plan. Many experienced employees tell us during our workshops that they feel that leaders no longer value their growth and development and don\u2019t invest in them because they are close to retirement age. In an era where mandatory retirement doesn’t exist and employees are continuously needing to improve and adapt to business changes, limiting someone\u2019s development in your organization simply because they are more experienced in age is short-sighted.\u00a0 This can also cut you off from a rich supply of experience, expertise and wisdom that is needed to coach, mentor and lead younger employees.<\/p>\n Building, executing and communicating your succession plan is an important element of your employee brand promise and can be leveraged as a retention, engagement and development tool.\u00a0 Recognizing that today\u2019s workforce is far more mobile and transient than in the past, this will require that you build a succession plan that is adaptable and flexible to business needs,\u00a0 addresses employees\u2019 career development goals, and can set your business up for success by leveraging a diverse talent pool.<\/p>\n * You can view the full report here: http:\/\/www.softwareadvice.com\/hr\/industryview\/succession-planning-report-2015\/<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":" The Role Succession Planning Plays in Employee Engagement Succession planning is a process that is often discussed at senior levels though, in our experience, rarely well executed. To build an effective succession plan you must: Select the right approach for … Continue reading \n
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Demonstrating Commitment to Employees<\/h3>\n
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<\/a><\/h4>\nBuilding, Executing and Communicating your Succession Plan<\/h3>\n