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Leaders For Today  Succession Planning Presentation 2011
 

Leaders For Today Succession Planning Presentation 2011

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This is the slide deck I use for discussions on succession planning.

This is the slide deck I use for discussions on succession planning.

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    Leaders For Today  Succession Planning Presentation 2011 Leaders For Today Succession Planning Presentation 2011 Presentation Transcript

    • Healthcare Leadership Succession Factors for Key Planned/Unplanned Events
    • Definition The process of cultivating a group of talented employees to assume key management roles.
      • 56% of executives polled said that they did not know who would
      • assume leadership should they have a vacant key executive role
      • 59% of executives say they do not feel that their hospital
      • has a succession plan in place
      • 64% say that their hospital is not adequately prepared should
      • their CEO resign suddenly
      • 68% of executives polled said that the departure of their key executive
      • would be extremely or somewhat damaging to their hospital while
      • 21% said that it would not be damaging and 11% said good riddance
      • Key Attributes in Choosing a Successor
      • Should know the organization and mission knowledge and lives it
      • Demonstrated passion thru measurable career accomplishments
      • Has exceeded expectations in current role
      • Proven loyalty factor
      • Track record of overcoming adversity with clear concise results
      • Keeps the trains running on time and advances the cause
      • High level of proven commitment
      • History of “getting things done through others”
      • Sincere people and relationship building skills
      • Community service mix- “it is not all about me”
      • Challenges
      • Cutbacks leave little or no budget for leadership development
      • Formal mentoring programs are virtually non-existent
      • Increased workloads to achieve cost savings
      • Budget cuts for tuition reimbursements, professional events etc.
      • High turnover among top level staff, “leaders firing their boss”
      • Tight talent market-finite number of leaders, highest/best bidder
      • Focus on processes, systems and away from people
      • Promotion without training
      • Loss in patient continuity-quality and satisfaction suffer
      • Strong competition for patients/dollars
      • The Short List
      • Internal key staff who have the drive and acumen to move up
      • Internal resources-staff referrals of former colleagues, board, etc.
      • Human Capital (internal or consultant) assessment bridge plan
      • Industry resources-colleagues/peer referrals, professional associations, trade events, vendors
      • External resources-consultants, service providers
      • Avoidance Factors
      • Choice of convenience-someone who you know who might be
      • able to rise to the occasion
      • Choice via internal political pressure for internal candidate
      • Choice via pressure from one or more advisors against best
      • judgment
      • Work on weaknesses in a non-fit candidate-don’t talk yourself
      • into a substandard fit
      • No immediate worst case scenario-e.g. death of a key
      • member/senior leader-plane crash in key role (no one knew
      • he was a pilot)
      • Components of Built In Success Factors
      • An operating and/or business plan
      • Employee engagement and accountability
      • Performance improvement
      • Updated detail as to job description of key person(s)
      • Involve key stakeholders obtaining buy-in
      • Leadership development program-management and performance focused such as Lean
    • Enhancing Workforce Performance Through Succession Planning
    • 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.
    • Why Plan?
      • Cost Savings
      • Continuity
      • Loyalty/Morale
      • Less Risk
      • Contingency Plan “Hit by a Bus” Scenario
      • Successful Companies Have Succession Plans
    • Leaders For Today Best Practices
      • Based on:
      • Fortune 500 Companies
      • McDonald’s Corporation
      • Aultman Hospital – Canton, OH
      • Cardinal Health System – Muncie, IN
      • Baystate Health – Springfield, MA
      • Develop a Succession Planning Program
    • Develop a Succession Planning Program 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.”
    • Specific Objectives of the Succession Plan Include:
      • Define the Relationship Between the Succession Plan and your Organization’s Mission
      • Establish Key Positions that Should Fall within the Scope of the Succession Plan
      • Identify Which Individuals Can Step into the Key Positions and What Development Plan Should be Utilized
      • Prepare a Curriculum for the Development of Leadership Talent
      • Document the Succession Plan Together with an Implementation Schedule
    • The Steps for Developing a Work Plan are:
      • Prepare your organization-get buy in but do not relent
      • Establish key leadership Positions and assess work requirements- have all key leaders update their job descriptions (do not rely on human resources for this)
      • Bring in outside human capital subject matter experts to assess current staff for each key role
      • Review Individual Performance
      • Assess Future Work Requirements
      • Develop Process for Identifying Future Individual Potential
      • Construct Leadership Development Program
      • Install Evaluation Process for Succession Planning Program
    • The Detailed Action Plan Should Specify:
      • Key leadership role- updated job description
      • Action to bring individual performance in line with requirements
      • Requirements for implementing leadership development program
      • Timeline, stakeholders and ownership of results
    • Common Impediments
      • Time/procrastination
      • Fear of going outside the culture/fishbowl
      • Cost-how expensive is it to lose continuity
      • Perceived absence of talent-only we/I can do it
      • Internal rivalry/ego/politics
      • Lack of mentors
      • 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!'
      • John F. Kennedy 35th president of US