The Manager's Toolkit

WHAT ARE THE BENEFITS OF SUCCESSION PLANNING?

So what is Succession Planning?

At Chivas Succession Planning can be carried out informally at a team or department level however every two years the business will carry out a more formal Succession Planning exercise at a functional level which is then shared with our Executive Committee for discussion and action.

The emphasis for Succession Planning is ‘ Risk Management ’ to the business with talent and career management being necessary tools to reduce that risk.

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Succession Planning is important as it provides a mechanism for: ▪ Regular review and management of any potential risks of key position vacancies ▪ Quick response business changes through identification and development of successors ▪ Prioritisation of employee development plans to minimise the number of ‘at risk’ jobs and maximise the number of ready successors. In doing this we would hope that our employees become more engaged and motivated in managing their own Learning Plan – identifying a link between this and their own performance and career progression.