Succession Planning Presentation 2011


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Succession Planning Presentation 2011

  1. 1. Enhancing Workforce Performance Through Succession Planning
  2. 2. Healthcare Leadership Crisis <ul><li>Every day for the next 19 years over 10,000 Baby Boomers will reach age 65 </li></ul><ul><li>Projections are that 50% of healthcare management could be lost over the next 5 years </li></ul>
  3. 3. Healthcare Leadership Crisis <ul><li>56% of executives polled said that they did not know who would assume leadership should they have a vacant key executive role </li></ul><ul><li>59% of executives say they do not feel that their hospital has a succession plan in place </li></ul><ul><li>64% say that their hospital is not adequately prepared should their CEO resign suddenly </li></ul><ul><li>68% of executives polled said that the departure of their key executive would have a dramatic impact on their hospital. </li></ul>
  4. 4. Definition of Succession Planning <ul><li>The process of identifying, developing, evaluating and reinforcing and a group of talented employees to assume key management roles </li></ul><ul><li>The principles of succession management are simple and flexible. They can be used for every management and leadership position (CEOs, VPs, Directors, and Managers), and they can be used to help identify potential board members . </li></ul>
  5. 5. Develop a Succession Planning Program <ul><li>The overall objective of the succession plan will be to “plan and initiate a program to ensure leadership continuity for key positions that will help to guarantee the survival of the group/community served.” </li></ul>
  6. 6. Rationale for Succession Plans <ul><li>Cost Savings </li></ul><ul><li>Continuity </li></ul><ul><li>Loyalty/Morale </li></ul><ul><li>Less Risk </li></ul><ul><li>Contingency Plan “Hit by a Bus” Scenario </li></ul><ul><li>Successful Companies Have Succession Plans </li></ul>
  7. 7. Building Succession Plan Foundation <ul><li>Make the business case </li></ul><ul><li>Define High Potential Leaders </li></ul><ul><li>Evaluate current staff and identify High Potential leaders </li></ul><ul><li>Develop High Potential Leaders </li></ul><ul><li>Evaluate and Reinforce High Potential Leaders </li></ul>
  8. 8. Specific Objectives of the Succession Plan Include <ul><li>Define the Relationship Between the Succession Plan and your Organization’s Mission </li></ul><ul><li>Establish Key Positions that Should Fall within the Scope of the Succession Plan </li></ul><ul><li>Identify Which Individuals Can Step into the Key Positions and What Development Plan Should be Utilized </li></ul><ul><li>Prepare a Curriculum for the Development of Leadership Talent </li></ul><ul><li>Document the Succession Plan Together with an Implementation Schedule </li></ul>
  9. 9. Best Practice Model <ul><li>Make the business case </li></ul><ul><li>Define High- Potential Leaders </li></ul><ul><li>Identify High-Potential leaders </li></ul><ul><li>Communicate High Potential Status </li></ul><ul><li>Develop High Potential Leaders </li></ul><ul><li>Evaluate, Reinforce , Reward </li></ul>
  10. 10. Make the Business Case <ul><li>Analyze Workforce Demographics </li></ul><ul><li>Determine Organizational Strategic Priorities </li></ul><ul><li>Determine Diversity Goals </li></ul>
  11. 11. Developing a Work Plan <ul><li>Prepare your organization-get buy in but do not relent </li></ul><ul><li>Establish key leadership Positions and assess work requirements- have all key leaders update their job descriptions (do not rely on human resources for this) </li></ul><ul><li>Bring in outside human capital subject matter experts to assess current staff for each key role </li></ul><ul><li>Assess Future Work Requirements </li></ul>
  12. 12. Developing a Work Plan <ul><li>Review Individual Performance </li></ul><ul><li>Identifying High Potential Leaders </li></ul><ul><li>Construct Leadership Development Program </li></ul><ul><li>Install Evaluation Process for Succession Planning Program </li></ul>
  13. 13. Fundamentals of Work Plan <ul><li>Key leadership roles should have updated job descriptions </li></ul><ul><li>Action plan to bring individual performance in line with requirements </li></ul><ul><li>Requirements for implementing leadership development program </li></ul><ul><li>Timeline, stakeholders and ownership of results </li></ul>
  14. 14. Identify High Potential Leaders <ul><li>Review Performance Score </li></ul><ul><li>Identify Key Success Factors for Advancement </li></ul><ul><li>360 Degree Review Process </li></ul><ul><li>Solicit Leaders Interest in Advancement </li></ul>
  15. 15. Key Attributes of High Potential Leaders <ul><li>Should know the company and mission knowledge and lives it </li></ul><ul><li>Demonstrated passion thru measurable career accomplishments, </li></ul><ul><li>Has exceeded expectations in current role </li></ul><ul><li>Track record of overcoming adversity with clear concise results </li></ul><ul><li>History of “getting things done through others” , good relationship building skills </li></ul><ul><li>Community service mix- “it is not all about me” </li></ul>
  16. 16. High Potential Leader Development <ul><li>Experiential Learning- Stretch Assignments </li></ul><ul><li>Cross Functional Teams </li></ul><ul><li>Leadership Academies </li></ul><ul><li>Shedding Silos </li></ul>
  17. 17. Communicate High – Potential Status <ul><li>Discuss status with High Potential Leaders </li></ul><ul><li>Assess is interested in Advancing in organization </li></ul><ul><li>Detail Advancement Strategies </li></ul><ul><li>Review resources needed for successful outcomes </li></ul>
  18. 18. Evaluate and Reinforce High Potential Leaders <ul><li>Align Performance Management with Incentive System </li></ul><ul><li>Senior Leadership Engagement </li></ul><ul><li>Support Leaning Culture </li></ul><ul><li>Develop Metrics for Success </li></ul>
  19. 19. Keys to a Successful Plan <ul><li>An operating and/or business plan </li></ul><ul><li>Employee engagement and accountability </li></ul><ul><li>Updated detail as to job description of key person(s) </li></ul><ul><li>Involve key stakeholders obtaining buy-in </li></ul><ul><li>Leadership development program-management and performance focused such as Lean </li></ul>
  20. 20. Impediments to Success <ul><li>Cutbacks leave little or no budget for leadership development </li></ul><ul><li>Formal mentoring programs are virtually non-existent </li></ul><ul><li>Increased workloads to achieve cost savings </li></ul><ul><li>Budget cuts for tuition reimbursements, professional events etc. </li></ul>
  21. 21. Impediments to Success <ul><li>High turnover among top level staff, “leaders firing their boss” </li></ul><ul><li>Tight talent market-finite number of leaders, highest/best bidder </li></ul><ul><li>Focus on processes, systems and away from people </li></ul><ul><li>Promotion without training </li></ul><ul><li>Loss in patient continuity-quality and satisfaction suffer </li></ul><ul><li>Strong competition for patients/dollars </li></ul>
  22. 22. Impediments to Success <ul><li>Time/procrastination </li></ul><ul><li>Fear of going outside the culture/fishbowl </li></ul><ul><li>Cost-how expensive is it to lose continuity </li></ul><ul><li>Perceived absence of talent-only we/I can do it </li></ul><ul><li>Internal rivalry/ego/politics </li></ul><ul><li>Lack of mentors </li></ul>
  23. 23. Factors to Avoid <ul><li>Choice of convenience-someone who you know who might be able to rise to the occasion </li></ul><ul><li>Choice via internal political pressure for internal candidate </li></ul><ul><li>Choice via pressure from one or more advisors against best judgment </li></ul><ul><li>Work on weaknesses in a non-fit candidate-don’t talk yourself into a substandard fit </li></ul><ul><li>No immediate worst case scenario-e.g. death of a key member/senior leader </li></ul>
  24. 24. <ul><li>The great French Marshall Lyautey once asked his gardener to plant a tree. The gardener objected that the tree was slow growing and would not reach maturity for 100 years. The Marshall replied, 'In that case, there is no time to lose; plant it this afternoon!' </li></ul><ul><li> John F. Kennedy 35th president of US </li></ul>