Advise an employer on the steps to be taken in establishing and sustaining a succession plan.
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Advise an employer on the steps to be taken in establishing and sustaining a succession plan.
Succession planning is a method and plan for replacement outlining or filling on leadership positions. It is practiced to recognize and grow new, possible leaders who can go into leadership functions when they shift idle.
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- Hazel had worked for the same Fortune 500 company for almost 15 years. Although the company had gone through some tough times, things were starting to turn around. Customer orders were up, and quality and productivity had improved dramatically from what they had been only a few years earlier due to a companywide quality improvement program. So it came as a real shock to Hazel and about 400 of her coworkers when they were suddenly terminated following the new CEO's decision to downsize the company. After recovering from the initial shock, Hazel tried to find employment elsewhere. Despite her efforts, after eight months of searching she was no closer to finding a job than the day she started. Her funds were being depleted and she was getting more discouraged. There was one bright spot, though: She was able to bring in a little money by mowing lawns for her neighbors. She got involved quite by chance when she heard one neighbor remark that now that his children were on their own, nobody…What are the benefits of succession planning ? Provide examples aswell.Rita wants to be involved in business. She has a fair amount of money to invest, but she does not want to be involved in management. She wants to form a business in the quickest way possible under her circumstances. Which form of business would be best for Rita? Limited partnership Sole proprietorship LLC Corporation
- Which type of pension plan would you prefer to be covered under (ie defined benefit, defined contribution, or cash balance) and whey if you were an employee? Employer?Unfortunately, some managers within organizations purposefully make an employee’s situation miserable with direct intent to force the employee out. This is due to many circumstances such as collective bargaining agreements where a union is represented, specific contract language, or tenure policies. Because of these elements, many managers aren’t able to terminate under regular conditions and will sometimes commit themselves to unethical practices. How can HR minimize unhealthy and potentially illegal situations like this? HR is the sole representative during any legal proceeding and bears the burden of proving guilt for the company. HR is able to conduct frequent investigations ensuring they enforce appropriate conduct within the business. HR plays a dual role in advocating on behalf of employees and also acting as a representative of the company. A good HR professional must leverage company resources while watching out for the individual. HR is able to review comments from…Inducate the section of the business plan it should be included : Nature of the business
- Topic: Based on your readings for this week (Chapter 13 & 14 - TMH), craft and post a well thought-out reflection on the implications the readings have on your thinking about Succession Planning. You should post at least one paragraph for each chapter. Specifically, reflect on what you have encountered in your reading that was new, and how this has changed your views on human resource management practice. Also, you can share what you consider to be the most important takeaways from your readings.discuss the methods that can be used to engage and retain high-potential employees in a succession plan?1. What is the Role of Benefits in Attraction, Retention and Motivating Employees. 2. Why are defined contribution pension plans gaining in popularity?
- Mrs. Yaqoob has been an employee for the past six years in your department. During the tenureof her employment, she has worked efficiently however during the past two years; you haveobserved that there is sudden change in her work performance as a result of absenteeism andtardiness. The entire department is aware of the fact that, Karen is having household issues andin such processes her colleagues have covered half of her work. However, after a certain periodof time they started complaining.Although, it irked you that somehow Yaqoob’s issues will be normal and will return to her usualwork however; you must help her will her remaining work.When you came across her the next morning and started having a conversation with her. Shestarted to cry and reveals the fact that her husband is abusive, her son is taking drugs and she issuffering from depression and is under the influence of alcohol. You suggest her to opt for theEmployee Assistance Program and visit her physician as well. it is…explain why would an organization not use succession planning Would you recommend this type of planningSuccession planning is often misunderstood or undervalued in the workplace. According to Talent Management magazine, about 70 percent of companies say they participate in some form of succession planning. However, 62 percent also report having too few candidates for organizational needs, and a third of organizations report no succession plan at all. These numbers are low relative to just how important succession planning is to an organization’s success. Please state the challenges organizations have that lead to few candidates and or no succession plan at all.