. 2 Succession Planning Program 2007 Meeting Objectives: Prepare for critical short-term and long-term senior staffing needs at the organization Establish an executive succession planning process for the organization that will address the CEO, and key senior executive positions Consider the roles of the Board and senior management in the process Discuss how the succession planning process might work Discuss Board committee expectations for succession planning at lower levels in the organization Objectives
. 3 Succession Planning Program 2007 A statement of the program objectives, linked to the present and future strategic needs of the organization A list of positions and/or persons covered in the program A systematic process for succession planning program management, including accountability for program management A detailed description of the desired qualifications and requirements (competencies) needed for each included position Ready and forward replacement plans for each position Individual assessment and development plans for each executive ~Development in current position ~Future potential ~Action planning for future positions ~Retention planning (may also include forward replacements at lower than SVP levels) Integration with the performance management program Succession Planning Program Elements Succession Planning Program Elements
. 4 Succession Planning Program 2007 Developing a succession plan for the CEO position requires a process that involves both internal and external stakeholders. A possible approach includes the following following steps Establish a project working group drawn from critical stakeholders; develop a time line and assign project accountabilities Identify and interview key stakeholders, including Board members, the CEO, other key internal executives, thought leaders, industry experts, etc.) ~Develop an interview protocol that focuses on the role of the CEO and the critical success factors for the position relative to the strategic objectives and mission of the organization Present findings to the project working group which will develop draft position requirements Present draft position requirements for discussion and review to the Board committee Create a process for identifying internal candidates and external sources Develop a plan for interim succession if circumstances require CEO Succession Planning Approach For Discussion CEO Succession Planning Approach For Discussion
. 5 Succession Planning Program 2006 The following steps outline how it might be done. Establish the roles of the Board committee, CEO and executive staff Establish a project working group of the organization executives, as well as a process, a time line, and accountability for project management Identify and interview key stakeholders for information about each position, including the CEO, position incumbents, and others (such as Board members, peers, subordinates, external customers.) Develop an interview protocol that focuses on the role of the position and key success factors relative to the strategic needs of the organization and critical success factors Present findings and draft position requirements to the project working group Refine the position requirements Establish a process for identifying and assessing ready and forward replacements for each position. Create assessment and development plans for each position Develop individual assessment and development plans for each ready and forward replacement Develop a system to manage the process Develop a process for reporting to the Board committee on the system and its progress Key Executive Staff Succession Planning Approach For Discussion Key Executive Staff Succession Planning Approach For Discussion
. 6 Succession Planning Program 2006 Lack of a formal management succession planning process in place Lack of commitment from top management and/or the Board Lack of resources for mentoring, development, and training Over design – too many forms and time demands Lack of integration with other processes Why do Succession Planning Programs Fail? Why do Succession Planning Programs Fail?
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