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Succession Planning Who will replace your leaders? Presented by Jacquelyn Thorp, MSHR/SPHR -CA.

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Presentation on theme: "Succession Planning Who will replace your leaders? Presented by Jacquelyn Thorp, MSHR/SPHR -CA."— Presentation transcript:

1 Succession Planning Who will replace your leaders? Presented by Jacquelyn Thorp, MSHR/SPHR -CA

2 What is Succession Planning? Succession Planning involves ensuring that another individual is ready to move into a position of higher responsibility. Succession planning is the process of identifying and preparing suitable employees through mentoring, training and job rotation, to replace critical people — such as the chief executive officer (CEO) — within an organization as their terms expire.

3 Who Will Replace Your Leaders? Succession Planning involves having senior executives periodically review their top executives and those in the next lower level to determine several backups for each senior position. A succession plan clearly sets out the factors to be taken into account and the process to be followed in relation to retaining or replacing the person.

4  A Facilitator  HRIS  Management Inventory Report  Skills Inventory  Training  Job Rotation  Talent

5 Facilitator Facilitates Schedules Conducts Serves as a resource Educates Encourages

6 HRIS Human Resource Information System

7 Skills Inventory Basic Motor Intellectual Learning New Technology Obsolescent Job Specific

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9 For Manager Success Resourcefulness Doing Whatever it Takes Being a Quick Study Building and Mending Relationships Compassion Straightforwardness Flexibility Putting people at ease Composure Setting a development climate Confronting problem subordinates Team Orientation Work Life Balance Decisiveness Self Awareness Hiring Talented staff

10 For Manager Success Leadership Mental ability Reasoning skills Ability to get along Tolerance for ambiguity Administrative Interpersonal Oral communication Written communication Judgment Organization ability Stress tolerance Problem solving Sensitivity to others Assessment Centers

11 Training Management Diversity Leadership Communications Sensitivity Team Strategy Conflict Management Time Management

12 Job Rotation Involves providing employees with a series of job assignments in various functional areas of the company or movement among jobs in a single functional area or department.

13 Job Rotation Helps employees gain an overall appreciation of the company’s goals Increases understanding of different company functions Develops a network of contacts Improves problem solving

14 Job Rotation Improves decision making skills New skill acquisition Salary growth Promotions Salaries Experience

15 Job Enlargement Job Experience Promotion Transfer Lateral Move Downward Move Job Rotation Lateral Move Temporary Assignments Projects Volunteer Work Presentations Teams

16 MENTORING – FORMAL OR INFORMAL

17 Talent

18  Organizations are losing large numbers of upper level managers due to  Retirement  Promotions  Transfers  Resignations  Death  Restructuring that reduced the potential of upper level managers  Middle managers are not ready to move into upper level positions  Skill weakness  Lack of experience

19  Retiring  Part time work  Starting their own enterprises …Leaving gaps in leadership talent

20 “40% of new CEO’s fail within 18 months”.

21  Systematically conducts a review of “High Potential” talent in the company  Ensures top-level management availability  Provides experiences that managers need to be considered top management talent  Attracts potential talent  Retains potential talent by providing opportunity

22  Have completed individualized programs › Education › Mentoring › Coaching › Job Rotation › Career Path

23 1. Large Pool of Potentials Identified › Candidates eliminated due to:  Turnover,  poor performance,  personal choice not to strive for a higher level position,  failure to complete academic programs.

24 2. Development Experiences › Excellent performance › Sacrifices (e.g., accepting new assignments or relocating) › Excellent oral and written communication skills › Excellent Interpersonal talent › Meeting the expectations of senior management

25 3. Fit in the Company Culture › Personality characteristics › Exposure to Key Personnel › Direct work with CEO Note: Reaching Stage 3 may take 15 plus years

26 1. Identify what positions are included in the plan. 2. Identify the employees who are included in the plan 3. Develop standards to evaluate positions (e.g., competencies, desired experiences, desired knowledge, developmental value).

27 4. Determine how employee potential will be measured (e.g., current performance and potential performance). 5. Develop the succession planning review. 6. Link the succession planning system with other human resource data and systems including training and development, compensation, and staffing systems. 7. Determine what feed back is provided to employees.

28 Eligible employees enter their own information into the HRIS: – Education – Job preference – Location preference Their supervisor enters – Performance appraisal – Rating of core competencies – Promotion potential

29 Creates an Online Resume Talent Calibration Meetings – Who will stay – Who will go (“toxic” or ineffective managers) – Development programs

30 86% internal promotion rate $21 million cost reduction in recruitment and training expenses Time to fill open positions reduced from 60 days to 35 days.

31 Self Peers Manager Subordinates Customers

32  Understand strengths and weaknesses  Identify a development goal  Identify a process for recognizing goal accomplishment  Identify strategies for reaching the development goal

33 Performance Management… simply put, is managing the performance of the entire organization. It ensures that the organization is moving in the same direction.

34 The first day your employee begins to work… Job Descriptions New Hire Orientation Employee Handbook Training

35 Plan for Excellent Performance › Mission of the Position › Essential Job Duties › Accountabilities › Goals and Actions › Vulnerabilities

36 Did employee meet standards and measurable targets?

37 Formal Performance Evaluation ◦ Evaluates Performance ◦ Evaluates Knowledge, Skills, Abilities ◦ Evaluates Talent ◦ Looks to the past

38  Looks to the future  Clarifies essential job duties  Acknowledges accountability  Sets goals  Sets actions needed to reach the goals  Identifies vulnerabilities  Identifies ways to avoid the problems

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