This Presentation gives the knowledge on Succession Planning, its effectiveness & tools, Risk

1. Succession Planning
Prepared By: Varun Rana

2. What is Succession Planning???
• Succession planning is a process for identifying and developing internal
people with the potential to fill key business leadership positions in the
company.
• Succession planning increases the availability of experienced and capable
employees that are prepared to assume these roles as they become available
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3. Succession Planning
• Ensure that employees are recruited and/or developed to fill each key role.
• Ensure that we operate effectively when individuals occupying critical
positions depart.
• May be used for managerial positions or unique or hard-to fill roles.
• Align bench strength for replacing critical positions.
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4. What is “Bench Strength”?
• An assessment of the organization’s preparedness to replace departing staff
in critical positions.
• Identifying people who are ready to step into someone else’s shoes at the
appropriate time under the appropriate circumstances with seamless
transition.
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5. Succession Planning – What it is Not
• A one time event
• Decided by an individual
• Used solely for individual career advancement opportunities
• Reacting only when a position becomes open
• Line mangers relying solely on their own knowledge/comfort with
candidates.
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6. Replacement vs. Succession
▪ Reactive
▪ Form of Risk
Management
▪ Substituting
▪ Narrow Approach
▪ Restricted
▪ Pro-Active
▪ Planned Future
Development
▪ Renewing
▪ Organized Alignment
▪ Flexible
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7. Steps in Process
Identify Key/Critical Positions
Conduct Position Analysis
Develop Succession Plan
Monitor, Evaluate, Revise
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8. Identify Key/Critical Positions
• Key Contributor- in achieving the organization’s mission or would hinder
vital functions
• Specialized Leadership – The position requires specialized or unique
expertise
• Geographic – The position is the only one of its kind in a particular
location
• Vacancy- Position will be vacant due to retirement/advancement in the
organization/lateral moves
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9. Conduct Position Analysis
• What are the external and internal factors affecting this position?
• What competencies or skill sets will be required?
• What are the gaps (competencies or skill sets not possessed by the current
staff)?
• What strategies will be used to address the gaps?
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10. Develop Succession Plan
The succession plan is the culmination of Phases 1 and 2.
• Reviews of the individual positions and high turnover job classes are rolled
into one document and gaps and strategies are formulated at an
organizational or unit level.
• The strategies to overcome the gaps are outlined to include target
completion dates, responsible parties and required resources.
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11. Monitor, Evaluate, Revise
• Select evaluation period-typically reviewed annually
• Be prepared to respond rapidly to unforseen changes to the plan
• Status/Progress updates should be monitored via the succession planning
template and EPA’s (depends what Holly choses here)
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12. Overview of Process and Tools
Process Design
Org. Strategic Initiatives,
Vision, Mission &
Values
Determine
Competencies for
Leadership
Process
Implementation
Identify Key Leaders & Assess against
competencies
Manager & Self Evaluation
Determine Gap between Actual Performance
& Behaviors vs. Required Competencies
Decision Making Matrix
Assess Organizational Risks and Develop
Strategies
Executive Profiles & Organization Chart
Process
Management
Monitor & Track
Employee’s
Performance
Development plans
focus on both strengths
And development areas
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13. What tools will we use?
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18. Thank you
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