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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? Ideally, you should already be doing this.

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Talent Management vs. Performance Management: What’s the Difference?

Extensis

Quick look: While the terms talent management and performance management are often used interchangeably, they play different (yet equally important) roles in a company’s human resource function. While the two terms may seem similar, they represent distinct approaches with unique objectives.

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13 Practical Performance Management Strategies To Implement (In 2024)

AIHR

Performance management strategies are crucial for driving results. Yet, companies often overlook them and don’t allocate sufficient resources to their development. However, 60% of companies with effective performance management systems report outperforming their peers. Contents What is performance management?

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The Top 5 Employee Engagement Challenges That Government Agencies Face

Cornerstone On Demand

2) Succession Planning Succession planning is essential to building a well-trained workforce—36 percent of leaders report that improving succession planning is their greatest staff development need, and 70 percent say they are currently investing in leadership development.

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The Art of Matchmaking Blog Series: Step 5 – Career Mapping and Succession planning

HR Management

The Art of Matchmaking Blog Series: Step 5 – Career Mapping and Succession planning. This long-term strategy; aligned with organizational goals seeks to optimize business processes, people development, and productivity. A career and succession plan are not an exclusive HR function.

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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. It ensures that an organization is prepared for the future by identifying and developing internal talent to fill key leadership roles. Why Succession Planning Matters Succession planning is essential for a variety of reasons.

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What’s Keeping HR Up at Night in 2020?

HRExecutive

Slightly more than half of the respondents worry about retaining key talent, with the next most common concern being developing leaders and succession planning, followed by improving the employee experience, and driving innovation and helping teams work together.