Preparing for the Unexpected Departure of Key Employees: An Introduction to Replacement Planning
1 hour 30 minutes
Gain an understanding of the key components of effective replacement planning.
Fewer than 40 percent of U.S. organizations, public or private, have functioning replacement plans in case of the disastrous loss of key people to death, disability, sudden resignation or the potential threatened loss in hostage-taking situations. Replacement planning is not the same thing as succession planning or talent management, though many organizational leaders confuse them. This topic helps you understand the key components of effective replacement planning and its value as a starting point for succession planning and talent management. It also helps you realize what can happen to your organizations if you do not have a functioning, operational replacement plan in place at all times.
• You will be able to describe how to make a business case for replacement planning.
• You will be able to recognize the difference between replacement planning for knowledge and for relationships.
• You will be able to discuss how succession planning and talent management work.
• You will be able to explain what replacement planning is and how it differs from succession planning.