What is Replacement charts?
Replacement charts refers to a tool used in succession planning which lists the critical job roles in a company along with current and future job vacancies in order to help the companies visualize key job roles.
Replacement charts definition
Replacement charts refers to a tool used in succession planning which lists the critical job roles in a company along with current and future job vacancies in order to help the companies visualize key job roles.
How do replacement charts function?
In replacement charts positions are mapped alongside information such as potential replacements, age, skills, experience, gender and promotion potential.
Replacement charts classify employees into employees ready for promotion, employees who would be ready for future promotions if given additional training,employees performing satisfactorily but needs motivation and further improvements and employees who are not fit to be on employment and need to be replaced.
Updates to replacement charts are made regularly especially in response to fluctuations in economic conditions or business activity.