succession planning – Ultimate Software's Blog https://blog.ultimatesoftware.com Thoughts on Putting People First in the Workplace Thu, 19 Oct 2017 12:49:25 +0000 en-US hourly 1 https://wordpress.org/?v=4.8.2 Future-Proofing Your Business: Expect the Unexpected! https://blog.ultimatesoftware.com/future-proofing-your-business-expect-the-unexpected/ https://blog.ultimatesoftware.com/future-proofing-your-business-expect-the-unexpected/#respond Tue, 03 Jul 2012 06:28:45 +0000 https://blog.ultimatesoftware.com/?p=124 Expecting the unexpected is something many of us wish we could do. We would all love to be able to predict what changes are going to impact us next. Who in our organizations are going to be our future rockstars and who are those who will take a different path in their career journey? Are […]

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Expecting the unexpected is something many of us wish we could do. We would all love to be able to predict what changes are going to impact us next. Who in our organizations are going to be our future rockstars and who are those who will take a different path in their career journey? Are the hiring decisions we made going to pan out? If we had that ability to see what the future held for us all this focus on planning would be much less relevant. We could afford to be more lackadaisical in our approach. But the reality is the speed of change continues to increase at a lightning fast rate and we have to be prepared for what the future holds. Whatever that may be.

Now is the time for you to prepare for the future. Just simply having great people work for your organization is no longer sufficient. Our generations are changing and so are their expectations. This is our time to ensure we are planning for the impacts of this and many other changes. Our workforce is our future and with out a plan to continue to engage, develop, and grow our people, our companies will falter. Whether your challenge is getting great people, keeping them motivated or growing your future leaders, having a plan is the first step towards success. How future proofed are you?

Future Proofing Your Business Infographic

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Have you Future Proofed your Company? https://blog.ultimatesoftware.com/have-you-future-proofed-your-company/ https://blog.ultimatesoftware.com/have-you-future-proofed-your-company/#respond Wed, 11 Apr 2012 13:58:37 +0000 https://blog.ultimatesoftware.com/?p=108 According to Gartner Research, succession planning in the C-Suite is a significant concern. I’d argue it’s a concern at every level in an organization. When 61% of employed workers are open to or looking for a new job, companies need to allocate resources toward attracting and retaining their future talent. But the question is…what does […]

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According to Gartner Research, succession planning in the C-Suite is a significant concern. I’d argue it’s a concern at every level in an organization. When 61% of employed workers are open to or looking for a new job, companies need to allocate resources toward attracting and retaining their future talent.

But the question is…what does our future talent look like?

That was the focus of Cale Hammer’s session during Ultimate Software’s Connections 2012: Future Proofing Your Business. While we all realize succession planning is important for business success, nearly one-third of companies don’t have succession plans and over 50% of individuals in VP-Level positions have no successors.

It made me wonder if one of the reasons so few organizations have succession plans in place, is because the process is perceived as down-right painful. As HR pros, we know the keys to success with any program implementation are:

  1. Aligns with business needs
  2. Has top leadership support
  3. Receives regular attention
  4. Gets dedicated resources
  5. Is both manageable and effective

And in the case of succession planning, #6 – Provides a commitment to talent development. Cale shared a client quote during the session that really struck me about the significant need for companies to spend resources on their current talent.

“We lack investment in training and development and do not provide enough opportunities for employees to learn beyond their own roles.”

If organizations plan to remain competitive and grow or even just retain market share, they have to figure out how today’s employees fit tomorrow’s business needs. Cale provided an overview of Ultimate Software’s Succession Planning solution for companies that are trying to figure this out.

There were a couple of things that really stood out for me.

The flexible Talent Assessment Box. With the Ultimate Software Succession Planning solution, you can create a 4-box, 9-box or larger with custom axis to monitor employee status. Imagine one axis as current performance rating and the other as potential for promotability. Each employee is noted on the report. It’s a clean, easy way to monitor and present to leadership where individuals are in relation to your succession planning efforts.

A Succession Readiness Report. This report allows an organization to view the percentage of candidates by division or region and their readiness level in terms of months. So if senior leadership wants to know the number of people who will be ready in the next two years, it’s just a report away. And the report can provide details on who those individuals are.

Those are just highlights, the solution does so much more. If you haven’t already seen a demo of the succession planning module and how it can help future-proof your business, click here to sign up. Succession planning does not have to be long, drawn-out and painful. But it does need to be done for the success of the business.

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