Every business faces the ongoing challenge of managing employees who are in transition, whether they are progressing through their organization in a lateral, upward, or outward fashion. When employees are promoted or leave your firm, careful succession planning is required to ensure smooth transitions for those moving on, their successors and the larger organization. Moreover, successfully filling job vacancies requires knowing how to identify the “right” candidates for a position. Once hired, employers must also tackle the issue of retention by creating opportunities for continued professional and personal growth. The importance of selection and retention is particularly acute when it comes to top executives, given their broader spheres of organizational influence and knowledge.
Our Human Capital (HC) consultants have extensive experience in helping clients develop and implement strategies that ensure successful succession, selection and retention of employees.
Succession is about much more than finding the right person to assume a role after his/her predecessor has moved on. It’s also about providing opportunities for a company’s future leaders to grow and develop both professionally and personally, effectively preparing them for the demands of new role(s) and creating smooth transitions for them as well as those around them. Doing so ensures a higher likelihood of success and therefore a higher likelihood that these rising stars and their direct reports will be retained. Specifically, our HC consultants help clients:
- Align succession planning with overall business strategy & the capabilities required for successful execution of that strategy
- Base succession planning on substantive assessment data to ensure capability requirements are met
- Ensure compatibility of succession candidates with an organization’s culture
- Develop sufficient talent pools & create regular talent reviews
- Promote increased diversity
- Secure the commitment & involvement of top management
Although SilverStone Group is not a search firm, we help clients effectively navigate and manage the selection process in order to find the optimal candidate(s) for a position. Our consultants begin by creating a target profile based upon the critical success factors of the position. Candidates are then measured against this profile in order to determine the level of fit with the job, the management team and the organizational culture. The best match is found by identifying applicants who have the necessary skills, abilities, and leadership characteristics to succeed as well as expectations that align with those of the employer. Specifically, our consultants are trained in helping clients:
- Source prospective candidates & verify references
- Assess candidates’ skills & competencies
- Leverage assessment data to develop behavior-based interview questionnaires
- Conduct interviews and/or provide behavior-based interview training for your
- Facilitate the selection process, serving as the primary interface between candidates
& your selection body
How much does it cost an employer to lose a talented employee? Most employers realize the answer is “it costs too much.” Sadly, many employers really don’t understand why good people leave. Often, it’s not just money; it’s more likely to be issues related to the quality of work experience – management, job satisfaction or career opportunities.
As a third party, SilverStone Group listens to current and former employees and exposes the root causes of unnecessary employee turnover. We also offer a series of management development programs that provide leaders with the insights and tools needed to be more effective, thus creating a supportive environment that encourages employees to remain and contribute. Resources available in the area of employee retention include the following:
- Third-party “exit” interviews
- Third-party “stay” interviews of key incumbent employees
- Internal analysis of practices that may impact employee retention
- Management training in employee retention practices
All employee retention engagements can be customized to your specific needs and concerns.