Most business leaders have to think about succession planning, but how many of them are able to adapt to precise succession planning processes into their respective organizations? Succession Planning is a hot and debatable topic and very crucial for the continuous functioning of all key roles in the business. It plays a vital role in the talent management process for all departments, sales, marketing, IT and more. In a nutshell, succession planning helps in:
- Identifying key roles in the organization
- Choosing people with right skills who may fulfill higher organizational roles in the future for any department
- Offering a way to cut costs on recruitment and enable in-house recruitment or team changes/transfers
The process also helps when senior leaders plan to retire. The new entrants can show their skills and talent to fill in the senior roles and the retiree can handover the responsibility without leaving loopholes in processes. Manually, this process looks cumbersome, but with various succession planning software, things go easy.
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Succession Planning software are adopted far and wide and it is an estimation that the succession planning applications market will reach $404 million by the end of 2024. Before you miss out on adopting one such software for your concern, let us have a look at the top Succession Planning Software around the world:
1. Oracle Taleo Cloud
Improving talent leadership is all we need these days and Oracle Taleo Cloud offers just that. It is fast, easy and offers affordable talent management solutions for all organizations. With features like career development, goal management, performance management and succession management, the succession planning software improve workforce quality and helps in building a cohesive leadership pipeline.
2. EmployeeConnect
EmployeeConnect is an intuitive HRMS SaaS platform allowing HR leaders to implement the best HR processes with better control of the activities. It offers the best possible tools to connect and transform workforce with more flexibility. Its set of features include competency scale, goal management, succession management, performance management, organizational charting, recruitment management and so on.
3. Mereo
Serving successfully in more than 40 countries, Mereo is an all-inclusive talent management suite offering a wide variety of features to add to your HR arsenal. Powered by facilities like career management, alignment tree, projects, actions, budgeting and data analytics, Mereo lets the leaders work on the company strategy closely. It is a great tool to manage people and business performance altogether.
4. Fuel50
Fuel50 is an award-winning career growth tools helping employees with decisioning career path to achieve success in leaps and bounds. The software empowers the organizations with robust career growth tools to attract and retain talent thereby boosting productivity and engagement. It is powered with tools to cater to cross-generational goals and objectives coupled with features to maximize succession planning, align values of employees and achieve organizational goals.
5. PageUp People
PageUp helps its organizations to create a talent bench with features like career development, creating employee profiles, organizational charting, recruiting management, 360 degree feedback, competency scale and many more. It further offers a 9-box tool to map current and future vital roles together with the demanding competencies.
6. InnerMobility by Gloat
Clientele of InnerMobility includes most of the Fortune500 companies with hundreds and thousands of employees. It is a kind of internal talent market place, powered by AI, to foster personal development thereby improving the productivity within the organization. The primary features of the software includes career development, goal management, succession management, recruiting management and so on.
7. Action HRM
Action HRM standardizes job descriptions for internal employees and help manager to recruit from the available pool of talent. The JDs are well incorporated with organizational goals improving the recruitment and productivity for the organization. Best suited for small and medium sized enterprises, Action HRM features workplace safety, multiple language support, compliance reporting, payroll integration and auditing etc.
8. Aruspex
Aruspex beautifully helps in creating plans for workforce, developing strategies for future recruitment, training, compensation and allows change in current job descriptions. It allows the leaders to cater to the “what if” scenarios, boosting recruitment management, performance management and goal management.
9. Parachute360
For small business with minimum or no succession plan, Parachute 360 offers great benefits. The software focuses more on providing precise succession planning regimen for smaller service, e-commerce and manufacturing firms with shorter management layers. It is available as a web-based, SaaS and cloud based platform. The primary features include employee profile creation, organizational charting, and succession management.
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We have provided a list of top succession planning tools to help you improve your workforce retirements and prepare for the future. This list is not exhaustive though, and so, if you know a tool that should be mentioned here, drop a comment below!
