Workforce and succession planning for utilities
A robust workforce development and succession planning program is a must-have for sustainable, operationally stable organizations. For community-owned utilities facing an impending labor shortage as many workers reach retirement age, development of a succession planning/workforce program can’t happen a minute too soon.
Yet, not all utilities have launched a formal program and excuses abound: Workforce development and succession planning are monumental tasks! We’re too busy and don’t have time! It’s too expensive!
In actuality, developing a workforce and succession planning program isn’t done in a vacuum and doesn’t need to be overwhelming. Many of the elements of workforce/succession planning build upon existing programs and processes that most public utilities already engage in – with nominal addition of time and resources.
Baker Tilly has developed a guide for public power utilities that breaks workforce development and succession planning into these key steps:
- Define your outlook
- Identify and prioritize critical positions
- Develop core competencies
- Pinpoint top talent and build a talent bench
- Create a tailored training program
- Optimize market competitiveness
For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.
