FREMONT, CA: "Succession planning has evolved into a key business imperative that continuously supports an organization's ability to maintain and grow talent for critical roles at all levels. With the ongoing uncertainty and challenges in the labor market and economy at present, it is especially important for organizations to have talent pools in place." says Mardi Walker, Executive counselor at McLean & Company.
Use Talent Pools to Support Flexibility in Succession Planning is McLean & Company's most recent research-based publication. McLean & Company is one of the world's most trusted advisors to HR and leadership professionals. Succession planning plays a vital role in the overall performance of businesses as they examine resourcing strategies for the upcoming months, making the introduction of this industry resource very appropriate.
The research reveals that talent pools source prospective successors for a multi-person job group. In a talent pool, a role group is the grouping of important roles needing similar or equivalent capabilities, such as knowledge, skills, and qualities. Role groups can share a talent pool of possible successors who may qualify for roles within the group.
"Effectively using talent pools allows organizations to not only be nimble in responding to unexpected workforce changes, but to provide the development and growth opportunities employees want and expect." adds Walker.
As per the research conducted by McLean & Company, for organizations to plan for succession effectively and efficiently, the methodology must be able to keep up with the rapid evolution of the work and operational environment. To guarantee essential roles are filled with the greatest talent and limit vacancy periods, organizations must develop their talent pipeline from within, especially when recruitment efforts are extremely tough. Utilizing talent pools and job groupings increases internal career mobility and employee retention.
