Succession Planning- Tip #2- What’s the real difference between workforce and succession planning?

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The leadership of any corporation has to be actively involved in planning its workforce.  After all, isn’t that the lifeblood and the future of any company?

But, is workforce and succession planning that the same thing? If not, how are the two different?

Very simply put, while one is a part of the other, considering them interchangeable would be a mistake.

Workforce planning is having the right people in the right job-fit across an organization at any given time. It is typically budget-driven and focused on staff-level jobs, forecasts and internal resource projections.

The goal of workforce planning and succession planning is the same: putting the right people—across the organization—in the right jobs, doing the right things at the right time. However, the difference between workforce and succession planning is distinct. Workforce planning is typically budget-driven and focused on staff-level jobs, hiring forecasts and internal resource projections.

Succession planning, while a subset of workforce planning, is a systematic approach to professional development with the express purpose of ensuring that selected (typically senior) staff is trained, experienced and ready to assume future leadership positions. Succession planning also focuses on individual and team transition needs and effectively guides implementation.

Both are critical for the endurance and bench strength of any organization.

At Key Corporate Services, our specialists have experience (using behavioral interviewing techniques) in matching candidates to positions ranging from entry-level management to C-level positions.

Let us partner with you in your workforce and succession planning process.

From The Key Corporate Services Blog Team