10 Factors for Talent Management & Succession Planning Success

I was recently asked what key factors are important for determining whether an organization’s talent management and succession planning practices are successful?  Here was my response:

  1. Build and have an actual strategy.  Include KPIs in the beginning. Stay focused on the strategy.
  2. Design TM and Succession practices that are congruent with the organization, its business strategy and its culture; and integrated with other human resource practices.
  3. Build in accountability at all levels of the organization for the ownership and execution of the practices. Especially with the CEO.
  4. Collaboration with key stakeholders is critical throughout the entire process.
  5. Right size and scale the tools and practices for the organization.  Leverage them vertically and laterally.
  6. Ensure it’s marketed and communicated to the organization as a leadership and management owned process and not just another HR initiative. Be as transparent at the organization allows.
  7. Maintain adherence to processes, rules, and definitions put in place for consistent application (ex. performance and potential).  But, remain agile to allow for variables out of your control.
  8. Classroom training is not always the answer. Development can take place in many ways.  Allow for failures and ensure learning happens from them.
  9. Have an entry and exit strategy for the talent pools you create.
  10. Build a talent mindset throughout the organization. Everyone is a talent manager. Everyone is responsible for their own development and direction they want to go.

What are your thoughts?  What would you add?