Less Time and Money
Those who are mentoring in a succession plan are those who are valuable personnel to the company and have essential knowledge in their role, they will be helping guide their successor in what they know best, which is their work role. Dedicating time to plan the future of your organization will save your company time and money. Plans to promote and train people within your company means less time spent recruiting for external candidates, interviewing them and checking their references. This also keeps those who are in the current role motivated as they can see that they are a valued member of the team and the company acknowledges them for that in asking them to mentor the successor. Money allotted to those efforts will also decrease with a solid succession plan in place.
Mentors are chosen
Succession planning requires planned company effort to align a mentor with the selected successor for a role. Those key employees who are imperative to their role are most likely the most suitable candidate in mentoring as they are great at their job, however, they themselves may require training to be a successful mentor.
Those who are mentoring in a succession plan are those who are valuable personnel to the company and have essential knowledge in their role, they will be helping guide their successor in what they know best, which is their work role. Dedicating time to plan the future of your organization will save your company time and money. Plans to promote and train people within your company means less time spent recruiting for external candidates, interviewing them and checking their references. This also keeps those who are in the current role motivated as they can see that they are a valued member of the team and the company acknowledges them for that in asking them to mentor the successor. Money allotted to those efforts will also decrease with a solid succession plan in place.
Mentors are chosen
Succession planning requires planned company effort to align a mentor with the selected successor for a role. Those key employees who are imperative to their role are most likely the most suitable candidate in mentoring as they are great at their job, however, they themselves may require training to be a successful mentor.