Any business can’t thrive without leaders. But as we all know, leaders will eventually retire, resign, or pass away, resulting in the need for replacements. This is why succession planning is conducted. Succession planning is the strategy for passing on leadership roles to an employee or group of employees to ensure business stabilization and make sure it continues to run smoothly even after a company’s most important employees retire or leave the company. By leveraging succession planning software, organizing succession plans become easier every step of the way.
12+ Succession Planning Software
3. Succession Wizard
8. UKG Pro
9. Saba Cloud
10. Cornerstone Performance
What Is Succession Planning Software
A succession planning tool is a human resource software that helps companies identify future leaders to ensure business continuity and business stabilization. This software tool supports the strategic decisions to be made by the company in developing employees to make them suitable for higher positions.
How does it work exactly?
Succession planning tool begins with filling in databases with employee and job profiles. Then, the succession planning tool will match that information with the higher positions that the employees are ready to take. Should there be no one available for the position(s), the HR personnel can leverage this tool to take specific actions to hone the employees’ skills and prepare them to become successors.
Using a succession planning tool helps you determine who among your employees has/have the potential to develop the knowledge and skillsets required to fill in higher roles. In that sense, you can plan which tools to use in employee development programs. With this information in place as part of your strategic planning process, you can effectively manage your resources and time.
Your choice of succession planning tools will depend on your business goals and requirements. But to help you choose the best software product, here are the things your succession planning tool of choice must be able to show:
– education and certification of the candidate
– past work experience
– corporate social responsibility
– record of accomplishments
– strengths and weaknesses of the employees
– promotion readiness
– openness for relocation
– corporate legacy and heritage
Top 10 Succession Planning Software
Motivosity is an employee engagement platform that focuses on the top drivers of employee satisfaction: appreciation, community involvement, and meaningful relationship with the manager. Motivosity has a company size of 49 employees and makes $10M in revenue.
2. Dayforce HCM
Pingboard helps you build a strong company culture with its in-depth, fully customizable employee profiles, alongside other features that will help you stay connected to your employees. Pingboard has a company size of 33 employees and makes $3M in revenue.
4. UKG Pro
UKG Pro provides unique, culture-driven solutions for midsize to large enterprises to help them support their employees. UKG has 13,000 employees and makes $3B in revenue.
5. Trakstar Performance Management
Trakstar Performance Management is an online performance management software that helps leading mid-size companies to motivate and engage employees. Trakstar, the company, has 85 employees and generates $12M in revenue.
6. Oracle Taleo Cloud
Oracle Taleo Cloud is a talent management solution that builds workforce quality and leadership pipelining. Oracle has a company size of 135,000 employees and makes $39B in revenue.
SutiHR by SutiSoft is an easy-to-use, scalable, and comprehensive HR software for businesses of all sizes. SutiSoft has 150 employees and makes $35M in revenue.
8. Saba Cloud
Saba Cloud by Cornerstone OnDemand helps you build a successful talent pipeline while empowering your employees to create their own career paths. Cornerstone OnDemand has 2,900 employees and makes $740M in revenue.
9. Saba TalentSpace
Still, by Cornerstone OnDemand, Saba TalentSpace offers practical, effective, and affordable ways to implement succession planning, using today’s best-practice talent pools.
10. STRATWs ONE
STRATWs ONE helps companies collect and consolidate data in KPIs to empower managers to make quick actions when results are below the target.
What Are the Factors to Consider In Creating a Succession Plan?
– internal candidates
– candidate development
– family considerations
– multiple candidates
– team approach
– middle management
What Type(s) of Business Need Succession Planning?
All organizations, regardless of size, need succession planning.
How Long Does Succession Planning Take?
Succession planning may take about 12 to 36 months.
Leaders in your company will not be there forever. That’s why you need to develop leaders among your talent pool and upskills the entire workforce. An important first step to this is managing employee profiles. This will help you make sound decisions in identifying who among your employees should be the next leader, and if none, how will you train them? With the help of succession planning software, you can cover all those aspects for a smoother leadership transition.
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