New information brochure for employers – Talent management and succession planning
The Department of Training and Workforce Development, together with our project partners, has published the eighth in a series of workforce planning and development brochures tailored to small to medium businesses. The eighth brochure is titled Talent management and succession planning.
A key element in business is the management of the skills, talent and succession of employees. When this is done effectively, staff are prepared and ready to cope with current and future work requirements.
Talent management and succession planning provide businesses with a deliberate strategy for the retention and continuation of critical competencies and demonstrate a genuine commitment to developing the existing workforce.
Without a planned and deliberate approach a business may be unable to provide its services and products to the level or at the quality expected.
Importance of talent management and succession planning
Supported by effective workforce planning, talent management and succession planning are important to business because they:
- protect critical operational requirements;
- ensure maximum contribution of high potential employees;
- support the development and growth of employees and ensure greater worker engagement;
- offer a range of learning, development and skilling opportunities;
- are formalised through training and career pathways and plans; and
- are a key component in formal human resource planning systems.
If you would like to find out more you can download the brochure.
You can also download all previous brochures in the Templates and resources section of this website.