This report seeks to understand the principles of succession planning and to apply those principles to implement a development plan for a colleague within a retail organisation.
Firstly, the report outlines what succession planning is by looking at relevant literature and how it is applied across various aspects of developing a plan. The second part of the report then seeks to apply the learnings to a live situation. Finally, the report will conclude that succession planning in retail is imperative given the current employment environment.
Table of Contents
1. Introduction
2. What is Succession Planning
3. Developing a Succession Plan
3.1 The Position
3.2 The Candidate
3.3 The process
3.4 The Review
4. Assessment
4.1 Colleague Background
4.2 Duty Manager Position
4.3 The Process and Plan
4.4 Objective Setting
4.4.1 Objective 1
4.4.2 Objective 2
4.5 Review
4.6 Acting Up
4.7 Training
4.8 The Outcomes
5. Conclusion
Research Objectives and Themes
This report aims to examine the fundamental principles of succession planning and demonstrate their practical application by implementing a structured development plan for a colleague within a retail environment. The research seeks to bridge the gap between human resource theory and operational practice, specifically focusing on the transition of personnel into management roles.
- Theoretical foundations of Succession Planning (SP) and Human Resource Management.
- Methodologies for identifying high-potential candidates using talent typologies.
- Practical implementation of development plans, including objective setting and feedback loops.
- The role of retail operations in upskilling and retaining talent to combat turnover.
- Use of SMART objectives and performance measurement in professional growth.
Excerpt from the Book
What is Succession Planning
In order to understand succession planning it is important to first understand the wider context of Human Resource Management (HRM) and Human Resource Planning (HRP). HRM is centred around activities such as recruitment, selection, learning and development, communication and employee involvement, teamwork and performance management. (Beardwell, 2017) Although there is no universally definition of HRM, Boxall and Purcell have defined HRM as, the management of work and the management of people to do the work. (Boxall, 2011) HRP is a relatively specialised sub-discipline within HRM and is more concerned with looking ahead and using methodical approaches to understand the future labour requirements of an organisation. Ensuring that an organisation has the right people, with the right skills, in the right place at the right time. (Taylor, 2014)
Succession Planning (SP) is part of the overall human resource plan and as set out by Taylor, is a focused activity that involves planning thoughtfully and in systematic fashion, for a time when people who hold senior or pivotal positions within a company leave or progress, ensuring that there is someone with the correct skill set ready to step up and fill the position. Taylor continues to emphasise that succession planning is about developing a new generation of potential leaders and providing them with the capacity to succeed into senior roles in several years’ time. (Taylor, 2014) Successful SP however is not just about replacement planning but having a comprehensive development system in place for employees. (Day, 2007)
Summary of Chapters
Introduction: Provides the scope of the report, focusing on applying succession planning principles to a retail organization.
What is Succession Planning: Discusses the theoretical background of HRM, HRP, and the specific definitions and strategic importance of succession planning.
Developing a Succession Plan: Outlines the systematic approach to identifying critical positions, selecting candidates, and executing development processes.
Assessment: Applies the theoretical concepts to a live case study, detailing background, objective setting, and review mechanisms for a specific retail colleague.
Conclusion: Summarizes the necessity of succession planning in the retail sector to maintain competitiveness and address high turnover rates.
Keywords
Succession Planning, Human Resource Management, Retail, Talent Development, Performance Management, SMART Objectives, Leadership, Training, Employee Retention, Professional Growth, Duty Manager, Workforce Planning, Competency Framework, On-boarding, Career Progression.
Frequently Asked Questions
What is the primary focus of this report?
The report explores the principles of succession planning and demonstrates how these principles can be implemented through a development plan for a colleague within a retail setting.
What are the main thematic areas covered?
The core themes include Human Resource Planning, candidate identification, competency frameworks, performance review cycles, and the strategic importance of employee development in retail.
What is the central research goal?
The goal is to provide a practical framework for identifying and developing potential leaders to ensure business continuity when pivotal roles become vacant.
Which scientific or management methods are utilized?
The report utilizes Odiorne’s typology for talent classification, the SMART format for objective setting, and the RAG status system for performance monitoring.
What does the main body of the work address?
The main body covers the theoretical definition of succession planning, the development of organizational processes, and a specific case study involving a Team Leader progressing to a Duty Manager position.
How is the work characterized by keywords?
The work is characterized by terms related to talent management, strategic leadership, operational efficiency in retail, and structured employee training interventions.
How is the candidate for succession identified in the case study?
The candidate is identified as a 'star' based on Odiorne’s typology, reflecting high performance and high potential, which justifies their selection for the development plan.
What is the importance of the 'RAG status' in this process?
The RAG (Red/Amber/Green) status provides a visual and clear feedback mechanism, allowing the manager and the candidate to assess progress on specific objectives in real-time.
Why is 'Acting Up' considered a beneficial part of the process?
It provides an 'in at the deep end' experience, allowing the candidate to manage the pressures and responsibilities of a senior role while being supervised, effectively bridging the gap between training and actual appointment.
What is the significance of 'on-boarding' in the succession process?
On-boarding signifies a commitment to the colleague's future, involving them in briefing meetings and discussions about the store's future, which fosters engagement and clear development expectations.
- Quote paper
- Derek McCloskey (Author), 2017, Succession Planning in Retail, Munich, GRIN Verlag, https://www.hausarbeiten.de/document/428662
