Replacing Top Talent

Today's tight employment environment requires that you actively manage a talent retention strategy and have Performance Management systems in place to help identify and nurture your top talent. Replacing your top talent is vastly more expensive and time consuming than resourcing or developing your own Human Capital from further down the organisation. The HR department is increasingly being called upon to provide Talent Management software solutions to Succession Planning as well as a host of other questions such as:

• Who do we spend our development dollars on ? 
• Who is ready to take over this critical role ? 
• When will this person be ready for their next promotion ?

Having the capability to graphically display your entire succession strategy, person by person, changes everything.

Search Your Entire Talent Pool

PeopleStreme Succession Planning is one of the most comprehensive systems in the market. Our Succession Planning software draws on online data from multiple sources. The system provides you with instant answers across the entire talent pool. This is a succession planning system not just for the executive team but for the entire organisation. Our system can search your entire Talent Pool and report on:

• Those who have been nominated as potential successors for critical roles 
• Competency gaps in potential successors 
• Your high potential staff thereby providing a list for future leadership development 
• Who is ready for promotion right now

Improve Retention

Succession Planning has a direct impact on reducing staff turnover. As soon as the organisation starts collecting data on employees qualifications, their aspirations, readiness for a new role and so on, your employees realize they are being considered for career advancement.

In most organisations, this process only happens for the executive team. However, with the improvement in technology, this process can now be conducted for the entire organisation. The net effect is that a tighter bond develops between the employee and the organisation. The employee now knows that their career aspirations are finally being taken seriously and that the prospect of career advancement is real, tangible and a high probability if they are able to continue to perform.

Focus Development Spend

Once you have implemented a Succession Planning system, you are then able to identify your High Potential Talent pool and focus your Development budget on your staff with the highest potential and best organisational fit.