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Succession Planning: The Elephant in the Conference Room Phyllis Weiss Haserot Practice Development Counsel 212-593-1549 Kathleen.

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Presentation on theme: "Succession Planning: The Elephant in the Conference Room Phyllis Weiss Haserot Practice Development Counsel 212-593-1549 Kathleen."— Presentation transcript:

1 Succession Planning: The Elephant in the Conference Room Phyllis Weiss Haserot Practice Development Counsel Kathleen Lucey Montague Technology Management, Inc

2 How NOT to do Succession Planning….

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8 Today’s Objectives Part I: Recognizing different kinds of elephants Part II: Group Exercise: what YOUR elephant looks like Part lll: Learn how to train your elephant

9 Identifying Your Elephant Focus to get a clear image:  Susceptible positions  Unique contributors  Potential loss or additional expense

10 Questions to Get Started... WHY ? WHO ? WHAT ? WHERE ? WHEN ?

11 √ WHY ?

12 Is This a Continuity Issue? YES! Unexpected departures may cause process disruptions, revenue losses, and/or require unanticipated expenses.

13 Can This Be an Enterprise Survival Issue? YES! Sufficient losses and extra expenses may lead to company failure. OR Loss of key leader / designer / salesperson may cause fatal erosion of competitive position.

14 Very High Probability APPROACHES 1.0! Much higher probability than other business interruption events that BC commonly plans for.

15 Who: Positions Provider of critical services Revenue generator: “rainmaker” Office managers Design or other creative talent Executive management, sometimes Administrative assistants, sometimes Others? Who in your organization fits this profile?

16 Who: Unique Contributors Warning Signs: Single-person functions Outsourced functions Function stops when person is away Sketchy or missing process documentation Repeated refusal to train or work with another staff member

17 What √ Establish the type and size of vulnerability. √ Measure impact in time and loss type. –Revenue loss –Extra expense –Erosion of competitive position –Loss of business leadership

18 Where √ In all the usual places √ In many other environments –Technology –Design –External specialists –Personal support –Facilities and Operations IN ALL ORGANIZATIONS...including yours.

19 What’s Going on in Your Organization? PART II: GROUP EXERCISE First as individuals, then as a small group: List the most critical persons in your organization: position; department – choose one. Why so valuable? Importance of contribution, time and cost to replace. Estimate potential loss types. Report to large group; discussion.

20 Part III: Training Your Elephant

21 Why Don’t Organizations Plan for Succession? Denial Large initial time investment Internal dynamics – behavioral issues

22 What Are the Tough Behavioral Issues? Lack of openness and information sharing Control – people who won’t let go Non-collaborative cultures No one takes ownership Quick to deflect and assign blame Territoriality – people and departments Involuntary succession

23 The Successful Elephant Trainer Will... Own the issue, take charge, raise awareness. Include HR, relevant others on your team. Analyze lost revenues/extra expense; make the business case. Anticipate individual behavioral issues. Get an internal champion; get training or specialized external expertise. Make successes visible.

24 Publicize early successes Golden Boy I Golden Boy II

25 Resistant cultures can CHANGE with time and successes!

26 PLEASE REMEMBER TO: Fill out and turn in your evaluation form. Leave a business card: To receive an electronic copy of this presentation: write “PPT” To receive a summary of the exercise results: write “RESULTS” Get some peanuts for your elephant from the Certified Elephant Trainer on your way out!

27 Questions ?? Phyllis Weiss Haserot Practice Development Counsel Kathleen Lucey Montague Technology Management, Inc


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