for Prof. Shaukat only

Succession planning and stewardship of corporate talent pool is a top priority for most companies. HRM can have a significant impact on the succession planning process.

There are three general roles that HR leaders play in succession planning.

1| THE CONSIGLIORE

HR can play a critical influential role in succession planning in a variety of business models such a in Public Companies, family-owned businesses and privately held firms.

The chief HR officer (CHRO) should serve as an idea generator, a challenger and a confidant with an independent perspective to the CEO and to the board. HR can also serve as someone who can assist in the resolution of conflicts as they arise in the succession planning process.

2| THE PROCESS OWNER

Without a capable individual providing strong and objective process discipline, boards often revert to emergency closed door sessions and uninformed decision-making. HR should be the process steward for succession planning.

HR needs to create the process, provide the tools and put forth succession candidates. HR should be a counselor who can help neutralize emotions and make sure decision makers have an objective perspective.

HR needs to be the leader and an integral and constant presence in the succession-planning process

3| THE SUBJECT MATTER EXPERT

HR leaders need to know the leadership talent pool and provide reliable and meaningful information on succession candidates.

HR should provide the insights about the strengths, weaknesses and development plans for individuals as well as characteristics of the talent pool overall.

HR must serve as the central repository and “paint a picture” of various succession candidates. HR must present a succinct summary of experience, responsibilities, past performance ratings and development plans for all candidates .

The most important assessment is “An assessment of potential — whether someone is ready to lead now, could step in in an emergency, or needs additional development — is extremely valuable to the company.

Company’s expect human resources to provide detailed talent profiles of potential successor candidates, including strengths, weaknesses and specific development needs, particularly in areas that can help someone move to the next level. The HR department needs to be prepared for any eventuality.

Human resources can play a critical role in matching the right person for each situation.

For example, if the company needs someone to “shake things up” it would be important for HR to have identified Change Agents in the organization

It the company needs to know “Who would step in to fill a key position in case of an emergency” HR should have identified those in the organization

Human resources’ should and must take the lead and have a primary role in succession planning.