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Succession Planning Results Company

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This presentation focuses on the major tenets of Succession Planning development and effective executive Leadership.

This presentation focuses on the major tenets of Succession Planning development and effective executive Leadership.

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  • Roles- not positions necessarily
  • Baby boomers
  • Don’t focus on too many competencies
  • -It is also important to rank within each category.-There will be steady performers who are not linked to promotional positions. However, this is not necessarily an indication of their performance, merely a reflection of their great long term fit within their current role. This should never be the rule. An employee not linked to a promotional position, should be the exception.
  • -It is also important to rank within each category.-There will be steady performers who are not linked to promotional positions. However, this is not necessarily an indication of their performance, merely a reflection of their great long term fit within their current role. This should never be the rule. An employee not linked to a promotional position, should be the exception.
  • -Personality tests-All employees
  • -moved to integrate four commercial applications (PeopleSoft, HRCharter, Lotus Notes, and ExecuTRACK) Successfactors; Cornerstone
  • Sharepoint, network server
  • -It is also important to rank within each category.-There will be steady performers who are not linked to promotional positions. However, this is not necessarily an indication of their performance, merely a reflection of their great long term fit within their current role. This should never be the rule. An employee not linked to a promotional position, should be the exception.
  • For example, your star network analyst may show great leadership savvy in addition to his technical ability. Though he currently may not be ready for an IT Management role, with the right development, he might be perfect for it within a two year timeframe.
  • Does anyone care to share any practices that works for them?
  • Staff is underdeveloped, under challenged, underutilized, bored and frustrated
  • Last minuteDon’t give enough time to the staff to finishRaise your hand if you know anyone who manages like this.
  • Can anyone identify with this managing style?
  • Your organization is recognized throughout the globe (e.g., consulting firms, ex- alum) Accenture, etc.
  • Raise your hand if you know who will replace you if you were to leave your organization
  • Right and wrong way of doing succession planning
  • 55%
  • -moved to integrate four commercial applications (PeopleSoft, HRCharter, Lotus Notes, and ExecuTRACK) Successfactors; Cornerstone

Transcript

  • 1. NAAAHR
    SUCCESSION PLANNING:
    THE EFFECTIVENESS OF A LEADER
    IS MEASURED BY THE DEVELOPMENT
    OF HIGH PERFORMERS
    www.resultstrainingcompany.com
    1
  • 2. Itinerary
    What Makes a Good Leader?
    Succession Planning Defined.
    The Necessity of Succession Planning.
    The Nine Steps of Comprehensive Succession Planning.
    Diversity In Succession Planning.
    2
    Results Company Copyright 2010
  • 3. What Makes a Good Leader?
    SELF AWARENESS
    INFLUENCE
    INSPIRES
    COLLABORATION
    VISIONARY
    ADAPTABILITY
    INTEGRITY
    DEVELOPS OTHERS
    SERVITUDE
    ACCOUNTABILITY
    3
    Results Company Copyright 2010
  • 4. Leading well is not about enriching yourself, but about empowering others.
    Don’t fall prey to the Barriers to Empowerment:
    Fear of Loss of Job Security: Many people hoard information and responsibility from others to maintain their own job security.
    Change is often uncomfortable. Requiring growth and improvement equals change for the leader and team member.
    Those with low self-worth cannot empower others, because they don’t recognize the power that they have within.
    Empowerment is rewarding for everyone:
    Empowerment creates better performers and overall better performance for the entire team. It also encourages retention of your star players.
    Leaders must embrace change in order to improve and grow as leaders. Effective leaders are, in fact, change agents.
    Secure leaders are recognized and respected. They are honored for the star team that they develop.
    4
    Results Company Copyright 2010
  • 5. Succession Planning is…
    a strategic system to ensure that the
    Organization has a steady pipeline of High
    Performance talent that will meet the needs
    of critical roles of the organization now and in
    the future.
    5
    Results Company Copyright 2010
  • 6. Traditionally, succession planning focused on merely on finding replacements for top three levels of management below the CEO.
    CEO
    Successor Ready?
    Successor Ready?
    Successor Ready?
    6
    Results Company Copyright 2010
  • 7. Unlike yesterday, today, Succession Planning is
    continuous and inclusive, not simply an annual
    process.
    Effective Succession Planning consists of
    -Succession
    -Progression
    -and Development
    7
    Results Company Copyright 2010
  • 8. Succession is the identification of backups and consists of:
    • Identifying High
    Performers
    • Listing Succession
    Replacements
    • Identifying vulnerable
    paths and positions
    8
    Results Company Copyright 2010
  • 9. Progression is the actual tracking of the pathways in career development and consists of:
    • Identifying competencies
    and experiences requires
    • Exploring the possible
    pathways of careers
    • Developing possible
    mentor relationships
    9
    Results Company Copyright 2010
  • 10. Development is the implementation of skills, knowledge and experience growth and consists of:
    • Creating development
    opportunities
    • Gathering best practices data
    • 11. Developing company programs
    • 12. Preparing individual
    development plans
    • Coaching and tracking progress
    10
    Results Company Copyright 2010
  • 13. As managers and small company 0wners,
    There still exists the need to replace critical
    roles and responsibilities and retain
    knowledge.
    Oftentimes the need is greater in smaller
    organizations since there are fewer
    individuals carrying multiple and major
    responsibilities.
    11
    Results Company Copyright 2010
  • 14. Is it any wonder that companies
    that manage their succession,
    progression and development for
    HIPOs have higher retention of
    executive talent?
    -Sobol 2007
    12
    Results Company Copyright 2010
  • 15. “Perhaps the Single Most Important thing that
    Jack Welch did at GE is build an integrated plan
    for succession, progression and development
    - Sobol, 2007
    13
    Results Company Copyright 2010
  • 16. Why is Succession Planning so important now?
    14
    Results Company Copyright 2010
  • 17. Recruiting and retaining leaders will become an economic and strategic challenge.
    The average college graduate will change jobs
    five times in his or her career. Within the next
    decade, this norm will probably increase to
    seven job changes.
    15
    Results Company Copyright 2010
  • 18. The Average Tenure
    of Employees
    Working at
    Organizations in
    Professional Service
    Capacity in the
    United States is
    3 years.
    The Average Tenure
    of Employees
    Working at
    Organizations in the
    United States is
    4 years.
    16
    Results Company Copyright 2010
  • 19. Why Is Succession Planning So Important Now?
    The workforce is shrinking-for every two hires that leave only one Enters.
    60% of new jobs require skills that are possessed by only 20% of the Workforce.
    There is high employee discontent.
    54% are not engaged
    The
    recession
    shuffle -
    massive
    layoffs will
    require
    Workforces
    to
    reorganize.
    17
    Results Company Copyright 2010
  • 20. 81% of companies worldwide rank as
    TOP
    Human Capital Problem
    18
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  • 21. 9 Steps to Effective Succession Planning
    19
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  • 22. Ensure that everyone, especially leadership is on the same page.
    Nothing dies faster than an organizational effort that does not have leadership buy-in.
    In order to reach and influence a maximum number of managers and employees ensure that leadership understands and supports the succession plan.
    A sure way to test whether a succession plan is owned by leadership is to assess whether any rewards or consequences are linked to it.
    20
    Results Company Copyright 2010
  • 23. Identify the Important Positions, Skills AND People that you have and need.
    Due to their diverse ability to exceedingly perform in
    multiple areas, star performers give you the luxury
    Of moving them around to a variety of needed
    positions.
    Ensure that focus is on star performers in addition to
    star positions, so that your most vital players don’t
    walk out of the door.
    21
    Results Company Copyright 2010
  • 24. Develop a Competency Model that best serves your entire organization.
    Start by observing your top ten critical human assets.
    Identify the skill sets that they possess.
    Identify your top core competencies of your organization.
    Rank your staff based on the top of your
    organization. core competencies
    Identify your high performers based upon your competency
    model.
    22
    Results Company Copyright 2010
  • 25. Develop a clear and systematic path for all employees.
    23
    Results Company Copyright 2010
  • 26. Build a Hierarchy that maps how positions and people are to travel within your organization.
    Paths should exist to clearly display the connection between positions within your organization.
    The hierarchies should be simple enough for all employees to understand.
    Globalized Architecture that connects everything for all employees should be available- linking performance review scores, goals, possible promotions, etc..
    Nothing should stand alone. Everything should be connected in a meaningful way.
    24
    Results Company Copyright 2010
  • 27. High Performers should have updated, comprehensive
    profile pages.
    • Bio and Background
    • 28. Competency Profile and Strengths
    • 29. Development Needs
    • 30. Individual Development Plan
    • 31. Personality Characteristics
    • 32. Risk (Vulnerability) Assessment
    • 33. Work Experience
    • 34. Progression Path
    • 35. Job Goals
    • 36. Next Steps
    25
    Results Company Copyright 2010
  • 37. Continuously Align and Re-
    Align Your Human Capital
    Succession Paths as needed.
    26
    Results Company Copyright 2010
  • 38. Technology can be your best friend for Succession Planning…
    Technology can be used to seamlessly organize your data.
    Web-based systems seem to offer great potential for worldwide access and large-scale integration of data.
    People, Positions and Paths can be found all in one place and integrated in a meaningful manner.
    Reports can reveal retention/ gap risk areas
    People performance can be displayed among core competencies.
    27
    Results Company Copyright 2010
  • 39. Upcoming Events
    28
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  • 40. 29
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  • 41. 30
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  • 42. What if your top performer walked out of the door and never came back?
    31
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  • 43. Develop a Central Repository.
    What information is most pertinent to your organization and operation?
    The majority of information and projects should be managed
    and stored in a central repository.
    A centralized knowledge system empowers the team to continue work
    as seamlessly as possible when an employee exits.
    Consistent and regular updates to the central repository should be a
    general process for all employees to follow, not only leadership.
    32
    Results Company Copyright 2010
  • 44. What if you left today, would your team be able to function?
    Results Company Copyright 2010
  • 45. Identify Current and Future Gaps for Critical Employee Paths that will not be easily filled and develop a Strategy to fill them.
    • Identify specific assets of the respective persons and/or positions and attempt to document them for others to emulate in absence.
    • 46. Identify target locations for the assets at risk- internal teams, external companies, organizations, etc.
    • 47. Develop emergency contingency plans.
    34
    Results Company Copyright 2010
  • 48. Develop Your Stars for Future Positions.
    If you are a manager, you don’t have to wait for leadership to develop your team.
    Build you bench strength. Some of tomorrow's key jobs may not even exist now. If a firm plans to double in size in five years, they will need more talented managers.
    Don’t underestimate the importance of succession planning for front line employees.
    35
    Results Company Copyright 2010
  • 49. What type of development and coaching
    practices do you use?
    Do you have a philosophy toward
    professional development?
    36
    Results Company Copyright 2010
  • 50. Which Element Most
    Closely Resembles Your
    Leadership Style?
    37
    Results Company Copyright 2010
  • 51. As a manager, nothing gets through you. You hoard all of the information and vehicles to get anything done. You pull the ultimate trigger on everything.
    “My job is secure.”
    38
    Results Company Copyright 2010
  • 52. As a manager, things permeate rarely… though only when pulled and prodded out from supervisees. You are a tough gatekeeper.
    “You only need to know but so much...”
    39
    Results Company Copyright 2010
  • 53. As a manager, things permeate.. You give, but only as absolutely needed to get the assigned task completed.
    “I’ll give it to you, but only if you absolutely need it to finish this project at hand..”
    40
    Results Company Copyright 2010
  • 54. Knowledge flows generously, but without intention and strategy . There is no planning involved.
    “What would you like to know? “
    41
    Results Company Copyright 2010
  • 55.
    • You are a mentor.
    • 56. You professionally develop your staff strategically.
    • 57. You pour out of yourself to others around you- above, below and laterally.
    • 58. You encourage the same behavior for your staff.
    • 59. Exponential growth is recognized among your team throughout the entire organization.
    • 60. Learning is contagious.
    • 61. You create stars who are tomorrow’s leaders of your organization.
    42
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  • 62. Developing leaders is the highest level of team evolution.
    Stage 1: Develop Yourself.
    Stage 2: Develop Your Team.
    Stage 3: Develop Leaders.
    43
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  • 63. The Difference between Leaders who Maintain Followers and those who Develop Leaders.
    Leaders who maintain followers.
    Leaders who develop Leaders.
    Need to be needed.
    Develop the bottom 20%
    Focus on weaknesses
    Treat everyone the same
    Spend time with others
    Grow by addition
    Want to be succeeded.
    Develop the top 20%
    Focus on strengths
    Treat individuals differently
    Invest time in others
    Grow by multiplication
    44
    Results Company Copyright 2010
  • 64. You benefit from developing your successors.
    45
    Confidence for your seniors to promote you, knowing that a placement exists.
    A mutually benefitting and trusting relationship.
    Greater assets for the higher performance of your team.
    An intrinsic satisfaction from seeing others grow
    Continuation of a legacy that you worked tirelessly toward.
    Results Company Copyright 2010
  • 65. Who is ready to take over when you leave?
    46
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  • 66. The CASE
    OF THE RUNAWAY TALENT
    47
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  • 67. Ensure That Your Organization has a Solid
    Rewards and Retention Program.
    48
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  • 68. Traditional Model
    of
    Employee Retention
    Development Model
    of
    Employee Retention
    49
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  • 69. Average CEO turnover
    Has grown by 59%
    from
    1995 to 2006.
    Hay Group 2008
    50
    Results Company Copyright 2010
  • 70. At least ___ %
    of Employees plan to
    change jobs when the
    economy recovers?
    51
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  • 71. Never Stop Courting High Performers
    Never Stop Courting Your High Performers.
    52
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  • 72. What Is Your Turnover Risk?
    53
    Retention Determinants for
    High Potentials:
    • Compensation/ Benefits
    • 73. Position/ Title
    • 74. Work/ Life Fit
    • 75. Boss/ Supervisor
    • 76. Team/ Environment
    • 77. Learning/ Development
    What is Your Turnover Risk?
    How Happy Are
    Your
    High Performers?
    Results Company Copyright 2010
  • 78. Continuously Monitor and Evaluate Your Succession Plan and Respective Employees.
    54
    A good succession plan includes clear measures for success.
    Evaluation should be regularly conducted.
    Feedback and communication is always good for employees to understand where they are performing and how they may improve and progress.
    Build a Scorecard that clearly reflects the performance of all areas that influence the success of your succession plan.
    Results Company Copyright 2010
  • 79.
    • Percentage of managers with replacement plans
    • 80. Ratio of internal hires to external hires for key positions
    • 81. Average number of positions having no successors
    • 82. Average number of candidates for key positions
    • 83. Average number of successors for key positions
    55
    A good succession plan includes clear measures of success.
    Results Company Copyright 2010
  • 84. 56
    Build A Scorecard That Clearly Reflects the Performance Levels Of All Aspects Of Your Succession Plan.
    Good
    Risky
    Low
    Results Company Copyright 2010
  • 85. Be Open and Transparent with Your Succession Plan.
    57
    Your succession plan is a roadmap for your employees. They should be able to use it to help navigate their careers.
    High performers should be recognized and aware of the path that is available to them within the organization.
    Transparency of the succession plan also makes it much easier to implement and increase the understanding of all stakeholders required to make it successful.
    Results Company Copyright 2010
  • 86. Instilling Diversity & InclusionIn Your Succession Plan
    It’s the right thing to do.
    It better reflects your customer mix and equips you to serve better.
    It enhances decision-making with alternative, differing mindsets.
    It ensures greater participation and greater connection with global reality.
    Diversity is a Must to incorporate into Your Succession Plan.
    58
    Results Company Copyright 2010
  • 87. Instilling Diversity & InclusionIn Your Succession Plan
    Ensure that diversity is incorporated into your recruitment approach.
    Train competencies that address diversity and inclusion
    Connect Performance Management with diversity efforts
    Develop mentor efforts
    Create a culture of openness and collaboration.
    Diversity can be seamlessly incorporated into your succession planning approach.
    59
    Results Company Copyright 2010
  • 88. AGOOD TEACHER HAS BEEN DEFINED AS ONE WHO MAKES HIMSELF PROGRESSIVELY UNNECESSARY.
    -Thomas J. Carruthers
    60
    Results Company Copyright 2010
  • 89. ?
    RESULTS COMPANY
    Dr. Lepora Manigault, SPHR, PMP, Six Sigma Black Belt
    www.resultstrainingcompany.com
    lepora@resultstrainingcompany.com
    770.367.5444
    61