Introduction
Succession planning is the process that helps organizations to fill key leadership and technical roles before those key roles are left vacant. It is about identifying high-potential employees, developing their skills, and building a pipeline of ready-to-step-up talent. To streamline and improve this process, several succession planning tools and software solutions have been developed. Here is a full breakdown of these tools, how they work, and the best options available.
Important Functions of Succession Planning Tools
Identification and Assessment of Talent
- Tools look at performance reviews and skills assessments, then combine that info with feedback mechanisms to identify employees with leadership potential.
- AI-powered analytics will identify strengths, weaknesses and developmental areas.
Development Plans
- Allow managers to implement personalized development plans such as training courses, mentoring and upswing assignments.
- Have employee goal settings aligned with the needs of the organization for growth.
Analytics Work Force and Reporting
- Offer up-to-date information on succession pipelines and leadership gaps, including readiness levels and the potential risks.
- Visualize talent pools with readiness percentages through dashboards for easy tracking.
Integration with HR Systems
- Integrate into performance management, learning management and workforce planning systems for a full picture.
- Data centralized in one place means information is accurate and current for making decisions.
Scenario Planning
- Tools let firms model “what-if” scenarios, for example, when there is sudden leadership change or a rapid expansion of business.
- Use simulations to injure successors and impact organization performance.
Advantages of Succession Planing Tools
- Shortens Leadership Gaps: Guarantees that critical positions are occupied in order to prevent disruption, thereby supporting continuous operation of the organization.
- Increased Employee Engagement: Employees feel valued when there’s clarity around their growth and development.
- Data-Driven Decisions: Data-driven talent decisions are powered by advanced analytics and predictive modeling.
- Strengthened Organizational Resilience: Cultivates a strong pipeline of leaders for the future.
Best succession planning software tools
Workday Succession Planning
- Functionality: Skylight is integrated with Workday HCM, providing talent insights, readiness tracking and development planning
- USP: Complete integration with workday’s suite of tools empowering real-time analytics and whole talent management.
SAP Successfactors Succession & Development
- Features: Custom talent pools, career pathing and dynamic charts to visualize succession pipelines.
- Unique Selling Point: Very flexible, can be integrated into SAP’s wider ecosystem.
Oracle Succession Planning
- Functionality: Role-based talent marketing, career modeling, and predictive analytics
- Unique Selling Proposition: AI-based insights to pinpoint high-potential employees, and simulate future workforce scenarios
Cornerstone OnDemand
- Features: Competency management, skills and performance tracking, and personalised development plans.
- Unique Selling Point: Stress on learning and development is part of succession planning.
UKG UltiPro Succession Management
- Features: Tailored talent reviews for specific roles, assessment of readiness, and goal alignment.
- USP (Unique Selling Point): Easy to use and focus on employee engagement.
Saba TalentSpace (formerly by Cornerstone)
- Capabilities: competency-based planning, career pathing, and leadership development.
- Unique Selling Point: Offers a step-by-step blueprint for leadership development
Succession Planning | TalentGuard
- Features: Skills assessments using AI, career path visuals, and risk management
- Unique Selling Point: Advanced scenario planning and risk mitigation.focus
The Role of Succession Planning Tools in Supporting Organizational Objectives
Succession planning tools are aligned to larger workforce and resource planning initiatives. Scenario Planning: Similar to workforce planning, scenario planning enables organizations to navigate future complexities by engaging in proactive talent development, predicting workforce demands, and ensuring a pipeline of talent to meet future needs. When deploying these tools, organizations can simultaneously realize short term stability and long term growth by managing their most important asset better that being their people.