As part of an employer's performance management process, it should also have a succession strategy for key roles in place, says Mary Herrmann, managing director of executive coaching at BPI Group, a global management and human resources consulting firm in Chicago. Not only does succession planning give employees a glimpse into their potential career paths but it also prepares an employer should an emergency happen and allows the employer to gauge its future talent pool. By following these four tips, an employer can create a more effective succession plan.

Develop a planning and communications strategy

The first step is to identify who is involved in succession planning and determine whether this is an open or closed process with engagement throughout the organization, Herrmann says. While only the key roles need succession planning, some employers choose to be open about the process and invite others to participate in the process. This gives employers a temperature of how others in the organization would respond to specific employees moving into those key roles.