Healing International

In: Business and Management

Submitted By nicx993
Words 1097
Pages 5
Question #1
The purpose of developing and maintaining a succession management process is to have a safety net for the company to fall back on, in situations similar to the one faced by Stonewall Industries. The succession management process is cultivated by the HR department and consists of qualified, trained candidates seeking a position within the company. The degree to which the risk management of the succession pool embodies is determined by the sufficient funds used to maintain it. Since the talent is being drawn from groups of individuals who are being sent on call in a moment’s notice, monetary compensation is expected. The overall ideal of having a succession management system in place is to enable a faster response to the impending need for an executive staff member.

Benefits of implementing a succession management process are:
1. Improve internal candidate pools.
2. Assure business continuity.
3. Reduce skill gaps.
4. Retain employees.
5. Help individuals realize their career plans within the organization.
6. Develop leaders more quickly.
7. Encourage the advancement of diverse groups.
8. Improve employees’ ability to respond to changing environmental demands.
Question #2
Creation of elite corps of employees: * Managers fear that publicly identifying those who will be promoted, a cadre of “crown princes” will be created. * They may coast through their job, they know that their contributions have already been recognized and the reward is in the near future. * The organization as well may not invest sufficiently in the further development of these promotable employees – increasing the risk that their competencies and motivation will decline. * A big problem also occurs, when a recognized individual does not actually get promoted. At that point, they feel humiliated – de-motivated, they will either leave the organization or…...

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