Succession Management Methods

Information about Succession Management Methods

Published on November 21, 2010

Author: fayyazabid

Source: authorstream.com

Content

Slide 1: Innovations in succession management methods and applications Transforming succession planning from a once a year event to an ongoing way of managing and developing talent Slide 2: Introductions What is high impact succession management? Major succession management questions What are the business goals? Who to include in the process? How to evaluate talent? How to develop talent? How to deploy the process? Conclusion Overview : Overview 3 High Impact Succession Management : High Impact Succession Management Replacement Planning Who should replace this person if they leave? Depends on creating candidate lists of available candidates High Impact Succession Management How can we maintain a steady supply of high performing talent in pivotal roles across the organization? Depends on aligning Career Development to help employees achieve their full potential Performance Management to evaluate and improve the effectiveness of employees in their current role Recruiting to fill positions with the best available talent Workforce planning to anticipate and prepare for future talent needs. Compensation to incent people who develop high potential talent and to encourage high potential talent to remain with the company Effective succession planning integrates multiple talent management processes : Effective succession planning integrates multiple talent management processes Technology makes this integration possible : Technology makes this integration possible Effectively collecting and tracking talent information Sharing data across processes Providing access to tools for identifying, evaluating & developing talent Slide 7: Question 1. What are the goals of succession planning and how can you measure them? Succession Impact Succession Metrics Business Outcomes 1. What are the goals of succession planning and how can you measure them? : 1. What are the goals of succession planning and how can you measure them? What is the benefit of effective succession planning from the perspective of: Leaders Managers Employees Human Resources What metrics will show that your succession planning process is working: In six months? In one year? In three years? Slide 9: Question 2. What positions and people will be included in the Succession Process? Identifying positions for Succession Planning : Identifying positions for Succession Planning Top tier Functional ladders Pivotal Jobs Development Culture 2. What positions and people will be included in the Succession Process? : 2. What positions and people will be included in the Succession Process? What positions will the succession process support? What is the process for identifying candidates for positions? Based on current job or role Based on specific qualifications Based on manager and/or self-nomination Slide 12: Aspirations, mobility, constraints Skills and experiences Cognitive, Social, & Change capabilities Question 3. How will candidates be identified, qualified, and evaluated for roles? Slide 13: Qualification Criteria Requirements: time in current role, citizenship requirements, current position, etc. Nomination process: manager recommendation, self identification, etc. “Hard” Criteria Career Goals & Constraints Job interests, geographic mobility Skills & Experiences “Soft” Criteria Job Relevant Competencies Learning Capabilities Cognitive Ability, Social/Relationship Skills, Dealing with Change Commitment Criteria Turnover risk Support for company mission and values 3. How will candidates be identified, qualified, and evaluated for roles? Comparing succession candidates : Comparing succession candidates Slide 15: Where people realize their potential Stretch assignments Doing things people have not done before Critical assignments Doing things that are important to business success Question 4. How will candidates be developed? Slide 16: Will the process be transparent? What benefits come from being identified as a high potential? How will you engage people who are not considered high potentials? What resources will be used for development (training, work assignments, job rotation, etc.)? How will you evaluate the effectiveness of these resources? How will these be tied to succession planning results? How will you create a flow of talent? What incentives do managers have to promote people past them? How will you handle people who may be stalled in key development roles? How will you motivate people waiting for future opportunities? Job Rotation Training Developmental Feedback Career Planning Mentors Action Learning 4. How will candidates be developed? Question 5. How to ensure effective adoption and use of Succession Methods? : Impact Talent management processes evaluated & predicted based on well-defined data analytics Operational Insight: Data-driven insights for understanding, monitoring , and improving talent Organization Maturity Well-defined and widely adopted methods and tools Integration/Consolidation Comprehensive: Methods effectively supporting major talent management needs Question 5. How to ensure effective adoption and use of Succession Methods? Slide 18: Common Reasons for resisting Succession Management Senior Leaders: Must use a consistent and transparent process to promote talent. Cannot base decisions solely on “intuition”. Must defend their choice of talent. What incentives are in place to ensure senior leadership embraces, supports and actively participates in the process? Managers: Must nominate and risk losing their best people to another part of the business. In return, they will get people not fully ready for the open position who may be unfamiliar to them. How are managers rewarded for developing talent for other parts of the company? Employees: Are evaluated and labeled. Pressure on high po’s to achieve superior results. Low po’s feel undervalued with no career future. How are people treated if they do not qualify or do not want to be high po’s? What assurances do employees have that they might become a high po in the future? Human Resources: Must comply with processes from “corporate”. May resist methods that they feel are not right for their group our department. What methods do local HR professionals have that will allow them to influence or modify the process to ensure it aligns with local cultural and business needs? 5. How to ensure effective adoption and use of Succession Methods? Final thoughts : Final thoughts Business impact achieved through succession planning Improved Internal vs. external hires; Time to fill; Quality of hire Increased the number of ‘ideal/ready-now’ successors Improved succession depth (goal is 2 to 3: ‘ideal/ready-now’ promote-able candidates – too many=retention risk; too few is continuity risk) Increased number of positions filled by ‘ideal/ready-now’ EEs Increased number of ‘ideal/ready-now’ EEs that are high potential Decreased turnover of high potential EEs Increased % of EEs with career development plans (CDP) Increased % of high potential with completed CDPs Increased % of EEs completing 180 assessment (EE-Mgr.) More targeted training/development of high potential (plan/matrix) Introduced upward feedback – EEs rate Mgrs (developmental feedback) Final thoughts : Final thoughts Key take-aways Start small and build over time, but have a roadmap for scaling Leverage and integrate existing talent management processes; collect data once and use it multiple times Take action based on evaluations; succession planning without development is just “taking inventory” Give employees and managers an incentive to actively participate in the process Slide 21: Thank you for your time and attention!

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