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Succession planning 101: A step-by-step guide for small businesses

Business Management Daily

To avoid the stress and uncertainty of these transitions, it’s helpful to create a formal succession plan for your most critical roles to prevent operational disruptions when the time comes for a key employee to leave your organization. What is succession planning?

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HR Software and the Future of Workforce Forecasting

EmployeeConnect

This helps HR teams proactively plan for skill shortages, budget more effectively for recruitment, and build strategies for long-term talent development. Rather than reacting to staffing issues as they arise, businesses can build talent pipelines and succession plans that align with future growth.

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How To Align HR Strategy With Business Objectives

HR Stacks Blog

It plays a defining role in how a company grows, adapts, and competes. Symptoms like misaligned hiring, skill shortages, and unclear performance metrics arise when HR is sidelined from strategic planning. From workforce planning to leadership development and performance management, HR can and should act as a growth partner.

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The 15-Minute Guide to Creating Your First Competency Matrix (+Free Download)

Peoplebox

Table of Contents What is a Competency Matrix? Competency Matrix vs. Training Matrix vs. Skill Matrix How Can Peoplebox Help? A competency matrix is the key to solving your team’s skill-tracking challenges. This guide will show you exactly how to create one, complete with a free template you can start using today.

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How to Build a Succession Plan for Your Organisation

EmployeeConnect

Succession planning is one of the most strategic and impactful processes an organization can undertake. The reality is, succession planning should be a proactive, ongoing process to secure the organisations long-term success. Why Succession Planning Matters Succession planning is essential for a variety of reasons.

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CEO Succession Planning: Your 2024 Comprehensive Guide (+Free Template)

AIHR

CEO succession planning is more important than you may realize. The researchers estimate that better succession planning could help the large-cap US equity market achieve 20% to 25% higher company valuations and investor returns. Contents What is CEO succession planning?

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Free Succession Planning Template and In-depth 2024 Guide

AIHR

Formulating a succession planning template helps to define the purpose and key components of your succession plan. This detailed template can help you chart primary functions and orientate your organization’s succession planning journey. Contents What is a succession planning template?