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Succession planning June 2013
This document provides an overview of succession planning best practices. It discusses workforce planning, key themes in succession planning like identifying talent and developing successors. It outlines steps to adopt succession planning like establishing strategic alignment and implementing succession management plans. The document also discusses performance and potential assessment, common mistakes to avoid, and criticisms of traditional succession planning approaches. It concludes with questions about applying succession planning.
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Succession planning June 2013
- 1. Planning for success byToronto Training and HR June 2013
- 2. CONTENTS 3-4 Introduction toToronto Training and HR Inc. 5-6 Definitions 7-9 Workforce planning 10-11 Key themes in succession planning 12-14 Steps to adopt 15-16 What stage is your organization at? 17-19 Performance and potential 20-21 Four critical dialogues 22-25 Strategies for succession planning 26-27 Drill 28-29 Best practice in succession planning 30-32 Succession planning in the water industry 33-34 The nine-box grid 35-38 Common mistakes 39-40 Seven sins of succession planning 41-45 Criticisms of succession planning 46-47 Technology 48 Case studies 49-50 Conclusion and questions Page 2
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- 4. Page 4 Introduction toToronto Training and HR Toronto Training and HR is a specialist training and human resources consultancy headed by Timothy Holden 10 years in banking 10 years in training and human resources Freelance practitioner since 2006 The core services provided by Toronto Training and HR are: Training event design Training event delivery Reducing costs, saving time plus improving employee engagement and morale Services for job seekers
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- 6. Definitions • Succession planning •Replacement planning • Workforce planning • Strategic planning • Links between succession planning and talent management • The succession planning model Page 6 Identify leadership characteristics Assess bench strength Identify talent Develop talent Evaluate succession planning Pre-plan Communicate plan
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- 8. Workforce planning 1of 2 • Why is it necessary? • How does it address recruiting needs? Page 8
- 9. Workforce planning 2of 2 THE FIVE STEP MODEL • Set the strategic direction • Analyze the workforce • Develop the action plan • Implement the action plan • Monitor, evaluate and revise Page 9
- 10. Page 10 Key themesin succession planning
- 11. Key themes insuccession planning • Open or closed process? • Job modelling • Broad or narrow audience? • Making room for succession • An annual or a continuous activity? • Integrating succession planning and development • Diversity • Burnout • Who owns the talent? Page 11
- 12. Page 12 Steps toadopt
- 13. Steps to adopt1 of 2 • Establish strategic alignment • Identify succession targets and analyze the talent pool • Develop the succession management plan • Implement the succession management plan • Evaluate succession strategies Page 13
- 14. Steps to adopt2 of 2 RECIPE FOR SUCCESS • Ongoing senior leader commitment • Ongoing employee commitment to development • Ongoing alignment of program goals to strategic plan • Ongoing communication and change management Page 14
- 15. Page 15 What stageis your organization at?
- 16. What stage isyour organization at? • Crisis mode • Replacement planning • Succession planning • Talent management Page 16
- 17. Page 17 Performance andpotential
- 18. Performance and potential1 of 2 • Performance dimensions • Standards for judging performance • Types of potential and standards for judging potential • “High” professionals Page 18
- 19. U N OF F I C I A L DEPTH CHART As of July 1 2013 Chief Executive Officer President Chief Financial Officer Chief Operations Officer Chief Human Resource Officer Chief Information Officer Chief R & D Officer Vice President of . . . Vice President of . . . Manager of . . . Manager of . . . Supervisor of . . . Key Technical Contributor First Team Back - Up Back - Up Anywhere Company
- 20. Page 20 Four criticaldialogues
- 21. Four critical dialogues •The internal dialogue • The employee’s dialogue with their stakeholders • Dialogue between the organization and employees generally • Dialogue between employees’ social networks and those of the organization Page 21
- 22. Page 22 Strategies forsuccession planning
- 23. Strategies for successionplanning 1 of 3 • Identify leadership skill sets required for the future-not the past or present • Cultivate leaders from far-flung corners of the organization • Seek significant diversity when comprising a leadership team • Develop comprehensive learning systems • Create “stretch” work experiences Page 23
- 24. Strategies for successionplanning 2 of 3 LEADERSHIP • Extensive use of recruitment and retention flexibilities for non- supervisory, mission-critical occupations in order to identify/hire/retain high-potential candidates who are in the talent pipeline for leadership positions Page 24
- 25. Strategies for successionplanning 3 of 3 LEADERSHIP(CONTINUED) • Use of a full range of structured Leadership Development Programs to ensure that current and future leaders have the necessary skills to manage the workforce effectively, exercise leadership continuity, and sustain a learning environment that drives continuous performance improvement Page 25
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- 28. Page 28 Best practicein succession planning
- 29. Best practice insuccession planning • Deploy a succession management process • Identify future leaders and successors • Develop future leaders and typical activities • Measure results • Keep it simple • Align succession with the organization’s overall strategy • Support the process Page 29
- 30. Page 30 Succession planningin the water industry
- 31. Succession planning inthe water industry 1 of 2 • Problem • Purpose • Barriers to meeting needs • Issues • Education and succession planning • Certification • Training • Leadership • Compensation Page 31
- 32. Succession planning inthe water industry 2 of 2 • Outreach • Recruitment and retention • Recommendations Page 32
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- 36. Common mistakes 1of 3 • Only allowing planners to select successors from the chain of command under a position • Heralding super-flat organizations as a nirvana of efficiency Page 36
- 37. Common mistakes 2of 3 • Allowing performance review scores to be weighted as high as 80% of criteria for placement as successor • Only doing succession planning for the top three layers of an organization • Producing future workforce strategies without reviewing the data of historic workforce trends and external market conditions Page 37
- 38. Common mistakes 3of 3 • Avoiding line managers and business unit leaders when it comes to making employee policies, because they “don’t understand HR” • Accepting that hard-to-use software is better because it’s more complex and will do more for you…or that cheaper software is merely simpler and will give you a faster, yet lesser return Page 38
- 39. Page 39 Seven sinsof succession planning
- 40. Seven sins ofsuccession planning • I’ll be here forever • What mattered then… • Assume the plan is the plan • Assume you need the whole plan figured out • Believing everyone wants to rise through the ranks • Developing only your high potential people • Thinking you need a formal position Page 40
- 41. Page 41 Criticisms ofsuccession planning
- 42. Criticisms of successionplanning 1 of 4 • Overly reliant on line manager’s perceptions of their direct report’s performance • Embedded in inflexible competency frameworks • Expect the individual to adapt to the job description • Assume the job is relatively stable but jobs evolve rapidly • Inadequate definitions of talent • Do not take enough account of gender differences Page 42
- 43. Criticisms of successionplanning 2 of 4 • Ignore work-life balance as a factor in people’s decision to go for more senior positions • Fail to ensure employees gain experience of both functional specialists and generalist roles at an early stage • Assume employees will stay for the long-term despite evidence to the contrary • Impose a uniform talent development process Page 43
- 44. Criticisms of successionplanning 3 of 4 • Place people in boxes • Focus succession on specific roles with a small number of candidates rather than developing large clusters of jobs which may be filled from a larger pool • Do not take sufficient notice of the difference in attitudes between different generations Page 44
- 45. Criticisms of successionplanning 4 of 4 • Fail to appreciate how people make the transition from one level of the organization to another • Takes inadequate account of how “adult” people are • Fail to take a sufficiently systemic perspective Page 45
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- 49. Page 49 Conclusion andquestions
- 50. Page 50 Conclusion andquestions Summary Videos Questions