Ultimate Guide to Succession Planning Software

Are you looking to effectively plan, track, and foster growth within your organization?

Effective succession planning is a vital business software option for any organization looking to continue providing quality service while introducing new roles and responsibilities.

With the right software, businesses can stay one step ahead by supporting their team members in advancing their skillset or reaching higher positions.

In this ultimate guide to succession planning software, we cover what exactly succession planning is, the key features to look for in a software solution, as well as the benefits it offers businesses.

Here we’ll give you all the information needed to pick out the perfect tool for your organization’s needs!

What is Succession Planning?

Succession planning is a crucial task for any company to ensure that they have a solid plan in place for the future.

At its core, it’s about identifying potential risks and gaps in talent and leadership and developing strategies to mitigate them.

By identifying key players within your organization and developing plans to help them grow and succeed, you can ensure that your company continues to thrive even amidst staff changes and turnover.

So, if you’re looking to future-proof your organization, succession planning is the way to go.

Benefits of Having a Succession Plan in Place

Smooth Transition

A succession plan ensures a smooth transition of leadership within an organization, minimizing disruptions and maintaining continuity.^1,2

Talent Development

Succession planning allows organizations to identify and develop internal talent, nurturing future leaders and ensuring a pipeline of skilled individuals.³

Knowledge Retention

A succession plan helps capture and retain institutional knowledge, preventing the loss of critical information when key employees leave.⁴

Reduced Costs

By promoting internal candidates, succession planning reduces recruitment and onboarding costs associated with external hires.⁵

Increased Employee Engagement

Succession planning demonstrates a commitment to employee growth and development, leading to increased engagement and job satisfaction.⁶

Organizational Stability

A well-executed succession plan provides stability and confidence to stakeholders, including employees, customers, and investors.⁷

Strategic Alignment

Succession planning ensures that leadership positions are filled by individuals who align with the organization’s values, vision, and strategic goals.^8,9

Risk Mitigation

A succession plan helps mitigate the risks associated with unexpected departures or retirements of key personnel, ensuring business continuity.^10,11

Improved Succession Decision-Making

Succession planning allows organizations to make informed decisions about leadership transitions, considering factors such as skills, experience, and cultural fit.^12,13

Long-Term Sustainability

A well-designed succession plan contributes to the long-term sustainability and growth of an organization, ensuring its continued success.^14,15

It is important for organizations to regularly review and update their succession plans to adapt to changing circumstances and ensure their effectiveness.

Best Succession Planning Software Tools

Thankfully, there are many succession planning software tools out there that can help make succession planning easier and more efficient.

So, if you’re looking for a reliable software solution to help you with your company’s succession planning needs, here are the top Succession Planning Software options to consider;

Maus Succession Planning Software

Maus is an all-in-one performance management platform that helps businesses create and manage effective succession plans.

Key features: goal setting, real-time feedback, automated reporting, job simulations and virtual mentorships.

Best for: Large businesses and enterprises.

Willful Succession Planning Tools

Willful is an integrated cloud-based talent management platform that helps businesses create and manage succession plans for all levels of employees.

Key features: online learning, competency tracking, automated performance reviews, and employee engagement tools.

Best for: Mid-sized to large businesses.

Legal Nature

SuccessFactors is a cloud-based HR system that helps businesses create and manage succession plans using an integrated platform.

Key features: performance management, talent analytics, employee engagement tools, and succession planning modules.

Best for: Mid-sized to large businesses.

Law Depot

Ingentis org.manner

Ingentis org.manner is an advanced organizational charting and workforce planning software that helps businesses create and manage succession plans.

Key features: real-time analytics, visuals reports & dashboards, automated tracking & communication.

Best for: Mid-sized to large businesses.

Gloat Succession Planning Software

Gloat is a cloud-based succession planning software that helps businesses create and manage effective succession plans.

Key features: talent review & assessment, employee engagement tools, competency tracking and performance reviews.

Best for: Small to mid-sized businesses.

Motivosity Succession Planning Tools

Motivosity is an award-winning performance management platform that helps businesses create and manage succession plans.

Key features: engagement tracking, peer recognition, data analytics, and automated performance reviews.

Best for: Small to mid-sized businesses.

Eightfold AI Succession Planning Tools

Eightfold AI is an advanced analytics platform that helps businesses create and manage their succession plans.

Key features: real-time data visualization, automated tracking & communication, employee engagement tools, and career development resources.

Best for: Mid-sized to large businesses.

PeopleFluent

PeopleFluent Succession Planning Software is an integrated talent management platform that helps businesses create and manage succession plans.

Key features: goal setting & tracking, automated performance reviews, competency tracking, and career development resources.

Best for: Mid-sized to large businesses.

Succession Wizard Succession Planning Software

Succession Wizard is a sophisticated online succession planning software designed to help businesses create and manage effective succession plans.

Key features: employee tracking, performance reviews, analytics & reporting, automated reminders.

Best for: Small to mid-sized businesses.

Plum Succession Planning Software

Plum is a cloud-based workforce management platform that helps businesses create and manage succession plans.

Key features: automated performance reviews, goal setting & tracking, analytics & reporting, and employee engagement tools.

Best for: Small to mid-sized businesses.

TalentGuard Succession Planning Software

TalentGuard is an integrated cloud-based talent management platform designed to help businesses create and manage succession plans.

Key features: online learning, competency tracking, automated performance reviews, career development resources.

Best for: Mid-sized to large businesses.

Empxtrack Succession Planning Tools

Empxtrack Succession Planning Software is an integrated cloud-based talent management platform that helps businesses create and manage succession plans.

Key features: employee tracking, performance reviews, analytics & reporting, automated reminders.

Best for: Small to mid-sized businesses.

SumTotal

SumTotal is an integrated talent management platform designed to help businesses create and manage succession plans.

Key features: Succession Planning Software for goal setting & tracking, automated performance reviews, analytics & reporting, and employee engagement tools.

Best for: Small to mid-sized businesses.

BirdDogHR Succession Planning Tools

BirdDogHR is an advanced workforce management platform that helps businesses create and manage effective succession plans.

Key features: employee tracking, automated performance reviews, career development tools, and succession planning modules.

Best for: Mid-sized to large businesses.

PageUp

PageUp is a cloud-based solution HR system designed to help businesses create and manage succession plans.

Key features: online learning, competency tracking, automated performance reviews, employee data tracking & goal setting.

Best for: Mid-sized to large businesses.

Weaving Succession Strategies

Weaving Succession Strategies is an online software suite designed specifically for the needs of succession planning.

Key features: analytics & reporting, automated tracking & communication, employee engagement tools, and career development resources.

Best for: Small to mid-sized businesses.

Workscape Suite Succession Planning Tools

The Workscape Suite is a cloud-based talent management solution with features specifically designed for succession planning.

Key features: workflow automation, analytics & reporting, performance appraisal tools, and succession planning modules.

Best for: Mid-sized to large businesses.

These are the top Succession Planning Software options available today that can help you create and manage effective succession plans. Each platform provides different features and is designed for businesses of different sizes.

With the right software, you can streamline the process of managing succession plans and ensure that your business is future-proofed for success.

What Industries Can Benefit From Succession Planning Software?

While commonly used in the corporate world, succession planning can be beneficial in industries ranging from healthcare to government and beyond.

Healthcare

With an aging population and a shortage of healthcare professionals, succession planning is essential for hospitals and healthcare facilities to ensure they have the right skillsets in place for when staff inevitably retire.

Technology

In the tech industry, finding the right talent to fill crucial roles is a challenge due to the ever changing landscape of top talent moving to leadership roles and the rapid career progression of internal talent rising up the ranks moving to replace outgoing executives.

EdTech

Educational technology companies often struggle to find the right people with the skills and knowledge needed to keep up with ever-changing technology. With succession planning software, EdTech companies can ensure they have a pipeline of qualified individuals ready to take on new roles when they become available.

Government

Long-term planning of the employee lifecycle is key when it comes to government and education, both of which rely on future budgets and investments as well as training new generations of students or citizens.

Manufacturing

Backed by a growing demand for automation, manufacturers are looking to succession planning software to map out their future and make sure that they have the right skillsets in place when new technologies come into play.

Non-Profits/Charities

Succession planning is also important when it comes to non-profits and charities. With an ever-changing landscape of funding opportunities, talent management tools help avoid talent vacancy costs.

Financial Sector

For banks and other financial institutions, succession planning is essential to ensure that there is always the right personnel in place from talent pools available.

By using talent management software solutions you can ensure a smooth succession plan and future-proof your business for long-term success in most industries.

Succession Planning Benefits for Business Organizations

1. increased alignment of goals
2. clear communication of expectations
3. overview of entire workforce
4. improved decision-making
5. consistent staff development and training 
6. better performance tracking and evaluation
7. reduction in uncertainty by providing a sense of security
8. identify future leaders and key employees
9. target development opportunities
10. workforce planning.

So if you want to maintain a stable and successful business, it’s worth making succession planning a priority.

Key Features to Look for in Succession Planning Software

Management Tools

A good software solution will provide easy-to-use management tools that make it simple to manage and track succession plans.

These tools should enable you to set goals, monitor progress and provide feedback as needed in order to ensure employees are on the right track.

Employee Performance Analysis

Performance analysis is an important part of creating and managing succession plans.

Look for software that provides detailed analytics so you can easily track the performance of your employees and understand how they are progressing in their roles.

Automated Reminders

Succession planning requires consistent monitoring and assessment, which can be difficult to remember without automated reminders.

Data Reporting

The software should also provide robust analytics and reporting capabilities so that you can easily assess performance and make informed decisions when it comes to succession planning.

Training & Development

A good succession planning software should also provide tools to support employee development and training. This could include offering an online learning platform or having resources such as job simulations and virtual mentorships available for employees.

Customizable

It’s a good idea to make sure the software is customizable to fit the unique needs of your business. You should also look for a program that allows for easy collaboration and communication among team members.

Talent Management

Look for a software solution that provides a comprehensive talent management system. This will help you find the best candidates for succession roles and make sure that your business remains well-equipped to handle any future changes or challenges.

Automation

Additionally, consider the level of automation the software offers – the more streamlined the process, the better.

User-friendly interface

Finally, don’t forget about the user interface. The software should be user-friendly and intuitive, making it easy for everyone on your team to use effectively.

By keeping these tips in mind, you can ensure that you choose the best software for your succession planning needs.

Pros & Cons of Succession Planning Software

As a business owner, you know that having a succession plan in place is vital to the long-term success of your company. But should you use software to help create and manage your plan?

Talent intelligence platform pros and cons;

Pros

• Facilitates a smooth transition of promotions
• Makes the planning process faster and more streamlined
• Helps to ensure future success of an organization
• Provides clear expectations for employees
• Real-time tracking & evaluation of employee performance
• Identifies high potential employees & top talent
• Clarifies skill gaps
• Facilitates employee development and training
• Reduces employee turnover
• Develop talent pools
• Exposes future leadership vulnerabilities
• Reduce employee turnover
• Reduces uncertainty by providing a sense of security.

Cons

• Can be expensive to implement and maintain
• Needs to be regularly updated with new features
• Lacks a human element
• Can take time to learn and understand the system.

Ultimately, the decision to use software should be based on your individual situation and needs, but it’s certainly worth considering as a crucial component for your succession planning efforts.

Existing Business Continuity Issues to Consider

It is important to audit any issues that may exist in your current succession planning. For example;

Existing talent pool

Do you have any gaps in your current talent pool? This could be due to lack of development or succession planning, and could cause problems down the line.

Leadership competencies

Organizational assessments should be conducted regularly to ensure that your leaders have the necessary skills and competencies.

Employee engagement

Are employees motivated and engaged? Do they have a good understanding of their roles and are they invested in meeting organizational goals?

Organisational structure

Descriptions and roles should be clearly defined to ensure that everyone understands their duties and responsibilities.

Insufficient training & development

Make sure your employees have the necessary training and resources to meet organizational objectives. Regularly review existing training programs to ensure they are up-to-date.

Job roles & responsibilities

Identifying job roles & responsibilities is an important part of any succession planning initiative. It’s important to ensure that everyone in the organization understands their job role and how it fits into the wider organizational goals.

Prioritizing the employees with high potential leadership skills

Being able to identify high potential employees and assessment of their leadership skills is key to finding the right person for a succession role.

Time frame for succession and retirement plans

Consideration of a suitable timeline for succession planning and retirement should be done in order to ensure a smooth transition.

Employee Retention

A high employee turnover leads to the loss of valuable knowledge and skills. Ensuring an effective succession planning strategy in place would reduce turnover and increase stability.

Source: The Influence of Leadership Style, Talent Management and Succession Planning on Employee Retention

Employee skills gaps

Organizational training should be conducted to identify any skills gaps and close them accordingly.

Lack of resources

An effective succession plan requires adequate resources, so it’s important to ensure that these are in place and regularly reviewed. Succession Planning Software would help smooth this process.

Organizational culture

Leadership succession plans should take into account the organizational culture of the company. It is important to ensure that any new leaders are a good fit for the existing culture and values.

Leadership vulnerability

The question of leadership vulnerability should ensure you create succession plans which recognize any potential gaps in key leadership positions and adjust futre talent acquisition accordingly.

Budget constraints

You should also consider budget when choosing a software solution for succession planning. Some of the more comprehensive solutions can be quite expensive, so it’s important to know what you need and set a realistic budget accordingly.

Training and development

Training and development plans should be put in place to ensure employees are properly equipped for their roles. This could include offering an online learning platform or having resources such as job simulations and virtual mentorships available for employees.

Customer support

Customer support requirements should be assessed before introducing a succession planning tool so that business requirements are known and the human capital management can be fulfilled accordingly.

Scalability

Scalability of software is another important factor to consider, as it should enable you to adjust the system accordingly when your company grows.

Data privacy and security

Data privacy and security are key when introducing a succession planning tool. It’s essential that all the data gathered in the process is kept secure and confidential at all times.

Integrations & User Experience

Look into how user friendly your current succession planning provisions are. Finding the right software option and what integrations it offers, can make the process easier for everyone involved.

Employee engagement levels.

Before putting  a succession planning tool is in place, it’s important to review employee engagement levels regularly. This will ensure that all team members are actively involved and motivated to reach the organizational goals.

Once any issues have been identified, they can be addressed with the help of succession planning software.

Why do HR Managers Use Talent Management Platforms?

A talent management platform is a comprehensive software solution that enables an organization to identify, attract, acquire, develop and retain the best possible workforce for their needs.

Talent management systems allow HR teams to access detailed performance data on individual employees; track progress of staff development initiatives; and provide real- summary, succession planning is an essential part of any organization’s long-term success.

By using the right software solution and addressing existing issues, businesses can ensure they have a comprehensive plan in place and are well equipped to handle future challenges.

In Conclusion

As we’ve seen, choosing software for your succession planning can be a difficult task as there are many different options out there.

Weighing the pros and cons is key when making any major decision for your business, but choosing the right software can make all the difference in how successful your succession planning turns out.

With the right software, you and your business can have an effective and smoothly operating succession process with no hiccups. It’s really worth a try!

References

1. Huynh, T. (2016). Library Succession Planning Process In Vietnam. New Library World, 11/12(117), 756-767. https://doi.org/10.1108/nlw-08-2016-0059
2. Phillips, T., Evans, J. R., Tooley, S., Shirey, M. R. (2017). Nurse Manager Succession Planning: a Cost-benefit Analysis. Journal of Nursing Management, 2(26), 238-243. https://doi.org/10.1111/jonm.12512
3. Phillips, T., Evans, J. R., Tooley, S., Shirey, M. R. (2017). Nurse Manager Succession Planning: a Cost-benefit Analysis. Journal of Nursing Management, 2(26), 238-243. https://doi.org/10.1111/jonm.12512
4. Phillips, T., Evans, J. R., Tooley, S., Shirey, M. R. (2017). Nurse Manager Succession Planning: a Cost-benefit Analysis. Journal of Nursing Management, 2(26), 238-243. https://doi.org/10.1111/jonm.12512
5. Phillips, T., Evans, J. R., Tooley, S., Shirey, M. R. (2017). Nurse Manager Succession Planning: a Cost-benefit Analysis. Journal of Nursing Management, 2(26), 238-243. https://doi.org/10.1111/jonm.12512
6. Phillips, T., Evans, J. R., Tooley, S., Shirey, M. R. (2017). Nurse Manager Succession Planning: a Cost-benefit Analysis. Journal of Nursing Management, 2(26), 238-243. https://doi.org/10.1111/jonm.12512
7. Huynh, T. (2016). Library Succession Planning Process In Vietnam. New Library World, 11/12(117), 756-767. https://doi.org/10.1108/nlw-08-2016-0059
8. Huynh, T. (2016). Library Succession Planning Process In Vietnam. New Library World, 11/12(117), 756-767. https://doi.org/10.1108/nlw-08-2016-0059
9. Phillips, T., Evans, J. R., Tooley, S., Shirey, M. R. (2017). Nurse Manager Succession Planning: a Cost-benefit Analysis. Journal of Nursing Management, 2(26), 238-243. https://doi.org/10.1111/jonm.12512
10. Huynh, T. (2016). Library Succession Planning Process In Vietnam. New Library World, 11/12(117), 756-767. https://doi.org/10.1108/nlw-08-2016-0059
11. Phillips, T., Evans, J. R., Tooley, S., Shirey, M. R. (2017). Nurse Manager Succession Planning: a Cost-benefit Analysis. Journal of Nursing Management, 2(26), 238-243. https://doi.org/10.1111/jonm.12512
12. Huynh, T. (2016). Library Succession Planning Process In Vietnam. New Library World, 11/12(117), 756-767. https://doi.org/10.1108/nlw-08-2016-0059
13. Phillips, T., Evans, J. R., Tooley, S., Shirey, M. R. (2017). Nurse Manager Succession Planning: a Cost-benefit Analysis. Journal of Nursing Management, 2(26), 238-243. https://doi.org/10.1111/jonm.12512
14. Huynh, T. (2016). Library Succession Planning Process In Vietnam. New Library World, 11/12(117), 756-767. https://doi.org/10.1108/nlw-08-2016-0059
15. Phillips, T., Evans, J. R., Tooley, S., Shirey, M. R. (2017). Nurse Manager Succession Planning: a Cost-benefit Analysis. Journal of Nursing Management, 2(26), 238-243. https://doi.org/10.1111/jonm.12512.