# SUCCESSION PLANNING ## Future-proof your organization with integrated and agile succession planning. Successful organizations are prepared for whatever lies ahead. Stay ready for the unexpected by building a bench of successors for your most critical roles. Our succession planning tools will help you continuously and proactively identify successors and create development plans that keep your organization on the path to success. ###### SUCCESSION PLANNING ## Identify and develop the right successors with collaborative succession planning tools. Our succession planning tools enable you to flag gaps, select potential successors, and create development plans to prepare for the future. ## Track candidate performance and readiness Once you’ve identified potential successors, you need to track their performance and readiness to ensure they are ready when called upon. - **Readiness progression:** readiness chart in 12-month increments shows where progress is being made – and where it isn’t - **Performance tracking:** performance trends for successors help you proactively address any setbacks - **Talent insights:** context into retention risks and career path conversations keep you in-the-know ## Invite any leader to nominate potential successors Invite leaders to identify successors for any position you choose, and empower them to add context into the candidates’ strengths and skill gaps. Approve nominations and automatically add those insights to your succession plan. ## Enable leaders to own their talent strategy Create multiple succession plans and assign the right leaders to manage them. Scoped access gives functional owners a clear role in shaping talent pipelines and readiness for their areas. ## Grow and develop your successors Uncover successor skill gaps and proactively develop them in critical areas – before they’re called upon to lead. Working seamlessly across our integrated performance tools, you can measure, track, and align employee performance to better prepare for the future. - **Talent reviews:** performance, growth, and retention trends across your talent pool - **Development goals:** integrated development goals and coaching notes keep growth top-of-mind - **1-on-1s:** development conversation templates empower leaders to push successor readiness forward ## Align succession plans with diversity and inclusion goals Keep a pulse on your diversity metrics for critical roles. Easily drill down into talent demographics and identify any potential gaps to ensure that your top positions are filled with inclusivity in mind. ## Share board-ready succession plans, updated in real-time Business moves fast, so having a board-ready succession plan at your fingertips is crucial. Our tool makes it easy for you to share the most up-to-date information and role changes with key stakeholders the second you're called upon. - **Presentation mode:** executive presentation with dynamic charts and candidate profiles - **Secure, shareable links:** ability to share succession plans easily and securely - **Customizable access:** plan filters allow you to customize what data can be seen by others ## Succession Planning Tools FAQs #### Why is succession planning important? Succession planning plays a critical role in the long-term success and sustainability of your organization. Your plan provides you with a strategic initiative to proactively address talent gaps, minimize business disruptions, and foster a culture of career growth and development. Your succession plan is key for long-term business success. **Here are the top [reasons why succession planning is important](https://www.quantumworkplace.com/future-of-work/the-importance-of-succession-planning) to your business:** - Provides a guideline for training and development - Reduces costs to recruit and hire talent - Identifies key leaders - Promotes long-term planning - Mitigates risk - Establishes your legacy - Shapes an exit strategy - Promotes progression #### How do I create an effective succession plan? While every organization is different, the recipe for a successful succession plan is similar no matter how complex your organization is. Here are the [steps to creating a succession plan:](https://www.quantumworkplace.com/future-of-work/the-importance-of-succession-planning) 1. Identify critical roles to plan for 2. Define your succession criteria 3. Complete a talent assessment 4. Implement talent development and training 5. Scale your mentoring, coaching, and one-on-ones 6. Review and monitor your succession plan 7. Develop your knowledge transfer process 8. Continuously update your plan over time #### What should I look for in succession planning tools? Modern technology can take the pain out of the process and streamline your strategy. With the right succession planning tools, you can propel employee growth, guide change, and drive business success. We recommend you look for a handful of [core features in succession planning tools including:](https://www.quantumworkplace.com/future-of-work/the-importance-of-succession-planning) - **Collaborative nomination process:** request nominations and performance details from any leader or manager - **Readiness tracking:** track candidate readiness by 12-month increments so you can easily see progress over time - **Integrated performance:** see candidate performance ratings and development goals - **Diversity visibility:** align succession plans with diversity goals - **Personalized, board-ready insights:** share real-time insights with stakeholders #### What makes Quantum Workplace’s succession planning tools different? Navigating succession planning like a well-oiled machine requires a partner you can rely on. For the last 20+ years, our customers have trusted us to deliver reliable expertise, technology, service and results. **We help you uncover meaning.** Get a gauge for where your talent gaps lie at a glance. Understand the scope of each potential successor’s skill set and where they need to continue developing. **We make action easy for everyone.** Building, adjusting, and reporting on succession plans needs to be easy for leadership and HR. Our solutions help reduce administrative burden and efficiently facilitate strategic leadership discussions. **We’re a partner you can rely on.** You’re on a journey – and we’re with you every step of the way. You can rely on our dedicated team to provide strategic guidance, ongoing coaching, timely tech support, and safe and secure practices your programs need to be successful.