· Selecting and recruiting new members of a senior management team can be planned over a long period, preferably several years
· A balance has to be reached between the internal promotion of people who have intimate knowledge of the business and recruitment from outside, that may bring additional skills and experience from other companies
· Outside appointments into top jobs can be a catalyst for change, bringing a raft of new ideas and initiatives that transform the fortunes of the business. In other instances they can bring a charlatan who replaces the top team and destroys the business through incompetence and lack of detailed understanding.
· A more considered approach is to recruit people with the necessary education, qualifications and personal credentials and allow them, through their own efforts and the right experience and training to build a satisfying career within your company
· People with management potential and essential experience should be recruited at a level that allows them to be promoted into a senior management role, once they have proved themselves to the r satisfaction of the management team
· Succession planning should be:
o A core management activity undertaken on a regular basis, to review appraisals and sanction the movement of people into new roles in order to develop their skills and experience
o Constructed by managers to span the company, trying to identify a chain of moves that will ensure individuals obtain the necessary breadth of experience needed for promotion
o Undertaken at all levels of the business. This encourages everyone to strive to achieve all that they are capable of.
o Linked to people’s skills, willingness to learn and training requirements, combining on the job training with formal education and qualifications needed to perform at a higher level
· Once people have been trained and gained experience, their value to other companies increases, therefore it is important to select those you intend to retain and reward them appropriately