Succession management software empowers organizations to identify talent, develop needed skills, and retain that talent. While solutions can stand alone, most succession management software is packaged within larger talent management software suites. This is due in part to the many data streams that succession management pulls from—including workforce, compensation and performance management. While broader enterprise-wide succession planning is growing, many software solutions still focus on leadership and bench strength. This channel provides peer advice, resources and insights from industry veterans.
Succession Management Systems
Often included in Talent Management Software suites, Succession Management Software solutions are the smart organizations way of preparing for the future workforce. These solutions break down disparate data silos (e.g. compensation management, performance management, etc.) and allow companies to better target, develop and keep high performance and high-potential talent.
Succession management is traditionally an activity focused on grooming a limited number of "high-potential" candidates for C-suite and other senior roles. In recent years though, the scope has broadened to maintaining an organization's talent pipeline for all levels. The latest succession management software reflects this trend, as evidenced by these five top highlighted vendors.
Succession Management Software can be a difficult technology purchase to justify given how future-oriented these HCM applications are. While large enterprises can make a successful business case due to their size and the implications of poor succession planning, small to mid-size companies can also benefit from this software. Here are 4 signs that indicate you might be ready.
Forward thinking HR pros recognize that succession management will deliver a competitive edge with a global talent shortage on the horizon. We review research from Korn/Ferry and Manpower which cites succession management benefits and risks and examine low cost SaaS succession management solutions in conjunction with a proven 5 step succession management strategic approach.
The tightening labor market and increased calls for internal talent development is creating substantial momentum for succession management software. This type of HR software has the capability of driving significant performance gains, but only if the software houses specific functions. Here is HR Lab's top 4 "must haves" for succession management software.
With the talent wars in full swing, an increasingly viable solution for organizations is succession planning and management software—offerings that can help streamline and fully prepare businesses by deeply analyzing current and future workforce needs. Unfortunately, far too many organizations neglect these 3 key steps to make the most out of these succession applications.