Manpower & Succession planning is an important part of the talent management process. It provides a way to identify key roles, people with the right skills and positions that may need filling in a short space of time.
It also provides a way to cut the costs of recruitment, enabling organizations to manage recruitment in-house. Manpower planning will help you identify skill gaps and map the career trajectories of your employees. This helps you set up activities such as performance appraisals, training, and an increase in remuneration at the right time, which in turn helps to keep your employees motivated.
The benefits of succession planning are numerous, but not always well recognized. Most corporate entities today, regardless of size and location, cannot do without a carefully crafted management succession plan. In order to minimize risks associated with the loss of valuable personnel, companies must engage in talent pool management by first realizing the benefits of succession planning.
