Succession Planning: Creating A Plan For The Johnson Corporation
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Succession Planning is emerging as a new technique used to enhance a business's position in the increasingly global and competitive market. Improved retention rates, refined management teams, and decreasing job-replacement costs are among the many benefits a succession plan can offer. However, creating and implementing a succession plan is costly and time consuming. During my summer internship at the Johnson Corporation, a small, international, manufacturing corporation, I designed a succession plan that would not have otherwise been possible because of the time and financial limitations. After researching succession planning I modified the suggested tools and techniques to better reflect and meet the needs of the Johnson Corporation. Because of Johnson's small size and my own time restrictions, the plan we created was simple and focused merely on identifying key-positions, key-characteristics, high-potential employees and future managerial replacement needs. Throughout the entire process the Human Resource Manager and myself constantly analyzed and revised our approach techniques until we were satisfied with the structure and procedures of the plan. My role in the succession plan was completed after conducting our first meeting with a department manager. The responsibilities of sustaining the plan now rest on the HR Manager and the rest of the High-Potential Task Team, which include the Chief Executive Officer, Vice-President of International Sales and the Vice-President of Marketing and Technology. Acquiring managerial support is vital to the continued success of a succession plan and the company as a whole.