Succession planning is a crucial aspect of any organization. It helps businesses to identify and develop talent within their company and ensure a smooth transition of leadership and management positions. However, managing the succession planning process can be challenging without the right tools. That’s where succession planning software comes in.
Succession planning software is designed to help businesses manage their succession planning process effectively. It can help organizations identify high-potential employees, develop their skills, and create career paths that align with business goals. With the right succession planning software, businesses can ensure that they have a robust talent pipeline to help them achieve their long-term objectives.
In this article, we’ll take a closer look at the 10 best succession planning software available in 2024.
Top 10 Succession Planning Tools
1. BambooHR
BambooHR is a cloud-based software that offers a variety of HR management tools, including succession planning. The software allows managers to create customized succession plans based on specific job roles and business needs. BambooHR also offers reporting and analytics tools to help managers track the progress of their succession plans and identify areas for improvement.
2. SuccessFactors
SuccessFactors is an SAP product that provides a comprehensive suite of talent management tools, including succession planning. The software is cloud-based and offers a wide range of features, including analytics, goal setting, and performance management. SuccessFactors allows managers to create customized succession plans, track progress, and identify potential gaps in skills and knowledge.
3. ADP Workforce Now
ADP Workforce Now is a cloud-based software that offers a variety of HR management tools, including succession planning. The software allows managers to create customized succession plans based on specific job roles and business needs. ADP Workforce Now also offers reporting and analytics tools to help managers track the progress of their succession plans and identify areas for improvement.
4. Cornerstone OnDemand
Cornerstone OnDemand is a cloud-based software that provides a comprehensive suite of talent management tools, including succession planning. The software allows managers to create customized succession plans, track progress, and identify potential gaps in skills and knowledge. Cornerstone OnDemand also offers reporting and analytics tools to help managers track the progress of their succession plans and identify areas for improvement.
5. UltiPro
UltiPro is a cloud-based human capital management software that helps organizations manage their employees’ entire lifecycle. The UltiPro Succession Planning module helps organizations identify and develop high-potential employees for leadership positions. The software provides a talent matrix that allows managers to identify potential successors for critical roles based on their skills, performance, and potential. The system also provides development plans and career paths for employees, helping to ensure that they are ready to take on leadership positions when the time comes.
6. Halogen TalentSpace
Halogen TalentSpace is a cloud-based software that offers a variety of talent management tools, including succession planning. The software allows managers to create customized succession plans, track progress, and identify potential gaps in skills and knowledge. Halogen TalentSpace also offers reporting and analytics tools to help managers track the progress of their succession plans and identify areas for improvement.
7. SuccessionWizard
SuccessionWizard is a web-based software that provides a variety of succession planning tools, including gap analysis and talent mapping. The software allows managers to create customized succession plans based on specific job roles and business needs. SuccessionWizard also offers reporting and analytics tools to help managers track the progress of their succession plans and identify areas for improvement.
8. Talentsoft
Talentsoft is a cloud-based software that provides a variety of talent management tools, including succession planning. The software allows managers to create customized succession plans, track progress, and identify potential gaps in skills and knowledge. Talentsoft also offers reporting and analytics tools to help managers track the progress of their succession plans and identify areas for improvement.
9. Saba TalentSpace
Saba TalentSpace is a cloud-based software that provides a comprehensive suite of talent management tools, including succession planning. The software allows managers to create customized succession plans, track progress, and identify potential gaps in skills and knowledge. Saba TalentSpace also offers reporting and analytics tools to help managers track the progress of their succession plans and identify areas for improvement.
10. Motivosity
Motivosity is an employee engagement platform that includes succession planning software. It allows businesses to identify high-potential employees and create development plans to help them achieve their career goals. The software also provides managers with tools to track employee progress and identify potential areas for improvement. Additionally, it includes features like peer recognition and social recognition that can help motivate employees and foster a positive workplace culture.
How Do You Create an Employee Succession Plan?
A succession plan is a strategic process designed to identify and develop potential employees who can take over key roles within an organization in the future. It is a critical aspect of human resource management that can ensure the continuity of an organization’s operations and protect it from the risks of losing key employees. We will discuss how to create an employee succession plan.
Identify critical positions: The first step in creating an employee succession plan is to identify the critical positions within your organization. These are the roles that are essential to the success of your organization and would be difficult to fill in case of a sudden vacancy. These positions may vary depending on your organization’s size, industry, and goals.
Define job requirements and competencies: Once you have identified the critical positions, the next step is to define the job requirements and competencies required for these positions. This involves listing the skills, knowledge, and experience necessary to perform the job successfully. It is essential to be specific about the job requirements to ensure that you are identifying the right employees for the job.
Identify potential candidates: After defining the job requirements, the next step is to identify potential candidates who can take over the critical positions in the future. These candidates should possess the necessary skills, knowledge, and experience to perform the job successfully. You can identify potential candidates by conducting talent assessments, performance reviews, and employee feedback.
Develop employee skills: Once you have identified potential candidates, the next step is to develop their skills and knowledge to prepare them for the critical roles. This can be done through training and development programs, mentoring, coaching, job shadowing, and stretch assignments. It is essential to provide these opportunities to employees to ensure that they are prepared for the critical roles when the time comes.
Create a plan for each employee: After identifying potential candidates and developing their skills, the next step is to create a succession plan for each employee. This plan should outline the steps that the employee needs to take to prepare for the critical role, the timeline for the transition, and any support or resources that they may need to be successful.
Monitor progress: Once you have created a succession plan for each employee, the next step is to monitor their progress regularly. This involves tracking their development, providing feedback, and making adjustments to the plan as necessary. Regular monitoring can ensure that the employee is on track to meet the job requirements and is prepared for the critical role.
Review and update regularly: Finally, it is essential to review and update the employee succession plan regularly. This involves revisiting the job requirements, assessing the employee’s progress, and making adjustments to the plan as necessary. Regular reviews can ensure that the employee succession plan remains relevant and effective.
In conclusion, creating an employee succession plan is a critical aspect of human resource management that can ensure the continuity of an organization’s operations. It involves identifying critical positions, defining job requirements and competencies, identifying potential candidates, developing employee skills, creating a plan for each employee, monitoring progress, and reviewing and updating regularly. By following these steps, organizations can prepare their employees for critical roles and ensure their long-term success.
