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Succession Planning and the Development of Your High Potentials | Webinar 11.13.14
The document outlines best practices for succession planning and high-potential employee development, emphasizing the need for strategic alignment with organizational objectives and continuous learning culture. It discusses the importance of assessing current and future capabilities, as well as utilizing self-selection assessments to identify and groom talent effectively. Key elements include fostering a supportive environment for high-potential employees to reduce turnover and enhance overall productivity.
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Succession Planning and the Development of Your High Potentials | Webinar 11.13.14
- 1. WEBINAR BROUGHT TOYOU BY:
- 2. ? What isyour most pressing concern about your next generation of leaders?
- 3. WHAT WE HOPEYOU’LL LEARN Best practices in succession planning and HIPO development programs. A practical model for selecting participants for a succession planning or HIPO development program. A model for determining the development targets and competencies for your program
- 4. It’s not justsuccession to the top – it’s getting the right person in place for every job. Some of tomorrow’s key jobs may not even exist now. Robert M. Fulmer, Growing Your Company’s Leaders
- 5. Critical Trends •Broadmarket forces and trends •Emerging competencies •Future job needs – likely unknown today •Reduced employee loyalty
- 6. EMPLOYERS PREFER DEVELOPINGEMPLOYEES OVER HIRING NEW ONES TEAM LEADERS AND MIDDLE MANAGEMENT 73% 27% SENIOR MANAGERS AND EXECUTIVES 33% 67% SOURCE: 2014 Workforce Strategies Survey, College for America SAY EMPLOYEES ARE MISSING PROMOTABLE SKILLS
- 8. BEST PRACTICES: SUCCESSIONPLANNING AND THE BOTTOM LINE Aligned with organization’s strategic objectives. Analysis of current and future capabilities required. Focused on potential and values. Perceived as relevant and real by participants. Drives a culture of continuous learning and development.
- 9. S.W.O.T. ANALYSIS STRENGTHS:What do we do well today? Will our strengths prepare us for future success? WEAKNESSES: What do we do poorly and why? Can we do LESS of this? What steps must we take to either improve or minimize the risks? OPPORTUNITIES: What are our greatest opportunities for growth? Are our strengths aligned to take advantage of them? Do our weaknesses stand in the way? THREATS: Where are we vulnerable? Are our biggest threats external or internal? Market-driven or competition? Lack of talent or not the right talent?
- 10. REQUIRES EXECUTIVE INVOLVEMENT! STRATEGIC GOAL ALIGNMENT Understanding of current and future trends for organization and industry.
- 11. OPPORTUNITIES THREATS Areour strengths aligned to take advantage of opportunities? Do our weaknesses stand in the way? Where are we vulnerable? Can we influence or control biggest threats? Market-driven or competition? Lack of talent or not the right talent?
- 12. Deciding Whom toGroom
- 13. Readiness SELF- SELECTION ASSESSMENTS •Values-driven behavior •Competencies •Career readiness OBSERVATION
- 14. LOW SELF ANDHIGH OTHERS •Under utilized skills •Motivation to excel may be issue - career goals may not be aligned with area HIGH SELF AND HIGH OTHERS •Areas of true strength •Focus for development •Opportunity for major gains in productivity and career growth HIGH SELF AND LOW OTHERS •Blind Spots •Substantial need for coaching •Opportunities for significant career conflict and disaster LOW SELF AND LOW OTHERS •Areas to avoid and move away from to the extent possible •Coach techniques to minimize potential career harm 5 5 4 4 3 1 2 1 2 3 High High Low PERFORMANCE RATINGS OF SELF AND OTHERS OTHERS SELF
- 15. CURIOSITY INSIGHT ENGAGEMENT DETERMINATION LOOK FOR POTENTIAL Understanding of current and future trends for organization and industry.
- 16. LOW PERFORMANCE AND HIGH POTENTIAL HIGH PERFORMANCE AND HIGH POTENTIAL HIGH PERFORMANCE AND LOW POTENTIAL LOW PERFORMANCE AND LOW POTENTIAL 5 5 4 4 3 1 2 1 2 3 High High Low PERFORMANCE TO POTENTIAL POTENTIAL PERFORMANCE
- 17. COLLABORATION LEARNING AGILITY PEOPLE DEVELOPMENT DIGITIAL LITERACY GLOBAL CITIZENSHIP Vision Interpersonal Skills Ability To Develop Others Intelligence Character
- 18. CLEARLY DEFINE STANDARDS,REQUIREMENTS AND COMPETENCIES RELEVANCY AND SUPPORT Communicate the why, how and when?
- 19. Managers need tostretch, challenge, and coach their high-potential employees… Without multi-dimensional dialogue about these issues, managers tend to hold on to their high-potential people instead of helping them along an intentional developmental pathway. High-potentials then may interpret this as a lack of company support and will be inclined to look elsewhere. Ron Ashkenas, The Paradox of High Potentials Harvard Business Review
- 20. HOLISTIC THINKING INTEGRATEDCHANGE CAPACITY COLLABORATION COMMITMENT CONTINUOUS LEARNING A learning culture has five key elements.
- 21. Leaders at AllLevels Supervisory and Team Lead HIGH POTENTIAL EMPLOYEES Managing NEW MANAGERS AND NEWLY PROMOTED Advanced Leadership MID AND SENIOR LEVEL MANAGERS Executive Development SENIOR DIRECTORS AND VICE PRESIDENTS
- 22. Consideration Exploration Transition Adoption Succession Planning Phases
- 23. Succession Planning Phases Pre-Promotion Post-Promotion Consideration Exploration Transition Adoption Focus Selection Roles and Responsibilities Processes and Procedures Professional Identity Information Time Frame 1+ Year 1 Year or Less 1st 100 Days 6-18 months Activities •Seminars •Informational interviews •Job shadowing •Focus groups •Training •Acting Manager •Job Rotation •Project Manager •Training •Mentoring •Networking •Training •Mentoring •Feedback •Peer Evaluation A Succession Plan for First Time Managers, Maria Plakhotnik and Tonette S. Rocco, T&D Magazine, December 2011
- 24. Best Practices: SuccessionPlanning and the Bottom Line Aligned with organization’s strategic objectives. Analysis of current and future capabilities required. Focused on potential and values. Perceived as relevant and real by participants. Drives a culture of continuous learning and development.
- 25. BIZLIBRARY.COM QUESTIONS Usethe Q&A box in the lower right hand portion of your screen.
- 26. RECOMMENDED RESOURCES Course:Business Impact – Succession Planning Target: Managers Course: Mentoring: Creating a Mentoring Program Duration: 7 min.
- 27. WWW.BIZLIBRARY.COM/FREE-TRIAL 7,000+ COURSES. 25 TOPIC AREAS . UNLIMITED ACCESS
- 28. Jessica Petry Sr.Marketing Specialist jpetry@bizlibrary.com @JessLPetry @BizLibrary Chris Osborn Vice President of Marketing cosborn@bizlibrary.com @chrisosbornstl #BIZWEBINAR